'Housing Recession?' How the Beleaguered Real Estate Market Tells the Story of the Broader Economy

The Breakdown

Blockworks

Investing, Business

4.8 • 786 Ratings

🗓️ 22 September 2022

⏱️ 19 minutes

🔗️ Recording | iTunes | RSS

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Summary

This episode is sponsored by Nexo.io, Chainalysis and FTX US. On today’s episode, NLW looks at the housing market, which has shifted dramatically in the last six months. Mortgages today cost more than double what they did last year – the biggest year-over-year jump since those numbers started being recorded in 1975. Homebuilder sentiment is down for the ninth consecutive month – the first time that’s happened since 1985. All in all, the picture being painted isn’t pretty. Is it a “housing recession?” - Nexo is a security-first platform where you can buy, exchange and borrow against your crypto. The company ensures the safety of your funds by employing five key fundamentals including real-time auditing and recently increased $775 million insurance on custodial assets. Learn more at nexo.io. - Chainalysis is the blockchain data platform. We provide data, software, services and research to government agencies, exchanges, financial institutions and insurance and cybersecurity companies. Our data powers investigation, compliance and market intelligence software that has been used to solve some of the world’s most high-profile criminal cases. For more information, visit www.chainalysis.com. - FTX US is the safe, regulated way to buy Bitcoin, ETH, SOL and other digital assets. Trade crypto with up to 85% lower fees than top competitors and trade ETH and SOL NFTs with no gas fees and subsidized gas on withdrawals. Sign up at FTX.US today. - I.D.E.A.S. 2022 by CoinDesk facilitates capital flow and market growth by connecting the digital economy with traditional finance through the presenter’s mainstage, capital allocation meeting rooms and sponsor expo floor. Use code BREAKDOWN20 for 20% off the General Pass. Learn more and register at coindesk.com/ideas. - “The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. Music behind our sponsors today is “Razor Red” by Sam Barsh and “The Life We Had” by Moments. Image credit: Cemile Bingol/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.

Transcript

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0:00.0	Welcome back to The Breakdown with me, NLW.
0:09.2	It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.
0:14.8	The breakdown is sponsored by nexo.io, chain aliasis, and FtX, and produced and distributed by CoinDesk.
0:22.7	What's going on, guys? It is Wednesday, September 21st, and today we are talking all about
0:28.6	the housing market. Before we get into that, however, a quick note. There are two ways to listen
0:33.9	to the Breakdown Podcast. You can hear us on the Coin Desk Podcast Network feed,
0:37.9	which comes out every afternoon, and also features other great Coin Desk shows, or you can listen
0:42.1	on the breakdown only feed, which comes out a little later in the evening. Wherever you listen,
0:46.5	I would so appreciate it if you could take the time to leave a rating or a review. It makes a huge
0:51.1	difference, and I really appreciate it. Also a disclosure, as always,
0:54.7	in addition to them being a sponsor of the show, I also work with FTX. Finally, I want to tell
0:59.5	you about CoinDesk's new event, the investing in digital enterprises and asset summit or
1:03.4	ideas. Ideas is designed to facilitate capital flow and market growth by connecting the digital
1:08.8	economy with traditional finance.
1:16.2	Join CoinDesk October 18th and 19th in New York City for a 360-degree investment experience where you can source and invest in the next big deal in digital assets.
1:20.1	Use code breakdown 20 for 20% off a general pass and register today at coindesk.com
1:25.0	slash ideas.
1:26.6	All right, folks. Well, today, as you well know,
1:29.7	is FOMC Day. The market eagerly awaits what medicine the Fed will prescribe this time around.
1:36.4	Although at this point, the 75 basis points is so priced in that getting that hike,
1:41.1	which would have been extraordinary in other contexts, could actually cause a small relief rally. Now, the opposite is also true. If we see 100 basis points later today,
1:49.0	that could cause markets to take another leg down. In addition to this month's specific
	...

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