Today's animal spirits is brought to you by Y-charts, one of the pieces of data that we could find there,

and there are many, is real estate data. So before we get to that, I just want to mention that we

just got some data released, S&P Core logic, up 19% year-over-year, up 18%, 18.7% from the previous

month, the hottest cities are Phoenix and San Diego and Seattle, Phoenix had 32% year-over-year

price increases. So this nationwide price index, it was the highest 12 month price increase ever

for this home price index, naturally. Now, I'll have you know, this is lag, this is a lag,

this is old data, this is from July, this is July data. So it's basically October, this data is

from July. Now, more recent data, US existing home sales, fell 2% quarter-over-quarter,

down 1.5% year-over-year. The number of offers on a typical home bin is now 3.8 offers,

on average, compared with 4.5% a month ago. So all I'm saying is that, I think I was right,

I think my housing slowed down, just a little dip is proving present.

The market has gone from scalding hot to it's just going to boil your skin.

We'll actually know, down 2% months of a month, down 1.5% year-over-year. That's existing

home sales for the month of August. Anyway, go to ycharts.com, tell my animal spurts sent to you,

if you're a new listener, you get 20% off a new subscription.

The opinion of Rithold 12 Management. This podcast is for informational purposes only and should

not be relied upon for investment decisions. Clients of Rithold 12 Management may maintain

positions in the securities discussed in this podcast. Welcome to Animal Spirits with Michael and Ben.

You saw the Robert. Starting to show off with a sigh.

Yeah, I don't, so. An exhale. I feel like if you're someone who is not very well read,

and I certainly wasn't coming out of high school college.

A leadist alert. A leadist alert. Why is that a leadist? That's like the opposite of a leadist.

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