Recession Watch: Cratering Condos and Creeped-Out Consumers

Most of the following charts are from Wolf Street or the Kobeissi letter. Definitely follow those guys.

Cratering Condos

There’s no way to overstate how crazy US home prices have become. To take just one metric, the median US household income is $79,200, but it takes an annual income of $124,200 to buy the average American house. That’s a gap of $45,000,…