Inflation Drops, NAR Gets Popped & Racks and Bibles
October is in and it appears to have moderated, cooling measurably more than anticipated. Consumer prices rose 3.2 percent in the year through October, decelerating from the previous month and showing encouraging signs under the surface, but is it enough to keep Jerome Powell and The Fed data dependent and focused on the potential for future rate cuts? Saied, Chris and Haroon breakdown what they think "higher for longer" may mean and what you should actually expect. Walmart CEO says "deflation could be coming this holiday season" and the boys take the opportunity to remind you that they feel we are already in an earnings recession. Lastly, what would an episode of The Higher Standard be without a healthy degree of trash talk? Did you know that almost no one else in the world pays a 6% real estate commission outside of Americans? Join the boys as they dive in to how the rest of the world buys and sells homes. Oh! And, full disclosure, everyone had a cocktail or two this episode.
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Resources:
October Inflation Report (New York Times)
Wholesale prices fell 0.5% in October for biggest monthly drop since April 2020 (CNBC)
Deflation could be coming this holiday season, Walmart CEO says (CNBC)
Almost No One Pays a 6% Real-Estate Commission—Except Americans (Wall Street Journal)
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