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Here's why the housing market may turn soon:

There is a near-perfect correlation between mortgage defaults and unemployment.

Meanwhile, the Fed has made it clear that they want to see HIGHER unemployment to bring down inflation.

That's right, the Fed WANTS higher unemployment… pic.twitter.com/gCiGDexVPX

— The Kobeissi Letter (@KobeissiLetter) September 4, 2023