Inflation, Income, Home Prices & A 3 Star Review

With an uncharacteristically early recording time, the boys come in extra hot and caffeinated. Saied finally admits to being 1 of the podcast's one star reviews; however, the show did receive a real, legitimate 3 star review from a listener. We wanted to address it head on and talk about the data behind the insurance position which upset someone. They, of course, save the expletive filled rage for the end of the show. This episode covers all the underlying detail of the latest inflation print which continues to show that the real cost of living is likely higher for most consumers. Then Chris and Saied pivot to an article on banks having $1.2 trillion dollars in "hot" deposits which they believe signals a much larger concern. Home prices according to Zillow seem to suggest that there have been tremendous gains still despite even some areas having lived through minor corrections in recent months. What does this mean? Saied and Chris will tell you their thoughts. Make sure to stay tuned all the way to the end because this one gets extra sassy in the last quarter of the show.

Resources:

Here’s the inflation breakdown for August 2023, in one chart (CNBC)

Banks Load Up on $1.2 Trillion in Risky ‘Hot’ Deposits (Wall Street Journal)

Real incomes fell last year. No wonder Americans were bummed out (Axios)

Home price shift, as tracked by the Zillow Home Value Index (ZHVI) (Lance Lambert via X)

August core inflation, excluding food and energy, rose 0.3%, hotter than expected (CNBC)

Fears over access to credit hit highest level in more than a decade, New York Fed survey shows (CNBC)

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