On Housing’s Recession, Brazil’s Election & Rising Profit Margins

The US housing market has entered a downturn. Sales activity is low, depressed by low demand given high mortgage rates and affordability constraints. Homebuilders have been hit hard, but the downturn hasn’t yet depressed prices for existing homes, Melissa reports. They’ve been supported by low inventories, as would-be home sellers with low mortgages have been opting to stay put. … Also: William discusses what may be ahead for Brazil’s economy and markets now that left-leaning President Lula has been reelected. … And: Is AI adoption improving corporate profit margins yet? Joe’s data suggest so.