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credit ek slash claims I'm Jerry Willis and this is the Fox Business Run Down.

Monday, June 24th, 2024.

Record high home prices have dried up summer sales and consumers are feeling

the inflation pinch. Could the Fed come to the rescue or must Americans pull back their pocketbooks

in a summer of high prices.

And I think consumers are moving around a little bit, okay?

Afflegmignon, the steak, the chicken, to sell a ball of rice now.

Inflation is still going up.

Bad once at 2% target, I think that ship is sailed.

The national median home price in May was $490,000, a record high since 1999.

Despite a major spike in housing inventory,

last month US home sales fell for the third month in a row

because the high prices and mortgage rates were wreaking havoc

on buyers buyers budgets.

And the data tells us that Americans aren't just dialing back on real estate investments.

A Commerce Department report last week shows consumers are still hesitant to open up their wallets when it comes to

retail spending. Inflation vary shoppers are reportedly looking for discounts and now opting

...