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The PredictIt response/Housing price hopes, rent news/Consumers challenged/Overseas

The PredictIt response/Housing price hopes, rent news/Consumers challenged/Overseas

Peter Boockvar
Jun 28, 2024
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The chart below is of the S&P futures and I circled the time when the debate started and it speaks for itself on its view of how it went, which was pretty obvious I believe. Bond yields are higher too but also following the rise in European yields, particularly in France whose 10 yr yield is up another 6 bps. The chart below this one is from PredictIt on where the betting markets are and it's quite a move. I included one on Gavin Newsom.

S&P Futures

PredictIt, Trump in orange, Biden in white (Just a coincidence on the color choice)

Gavin Newsom

French 10 yr oat yield

This is encouraging for someone wanting to buy a home for the first time. Redfin yesterday reported that "the typical home is selling for less than list price, the first time that has happened in late spring since start of pandemic." In their press release, "The typical US home that sold during the four weeks ending June 23 sold for .3% less than its asking price...The typical home sold for exactly its list price one year ago, and roughly 2% above its list price two years ago."

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