Cartoon of the Day: Housing Drought - 06.23.2023 real estate inventory cartoon

There's still a long ways to go before a potential "unlocking" of the existing home market.

On Friday's edition of The Macro Show, Hedgeye analyst Josh Steiner discussed a recent survey that revealed a large % of potential home sellers are waiting for interest rates to come down before potentially listing their home on the market.

"You're talking about a 2% drop just to get about a quarter of those thinking about listing off the fence," Steiner says. "Those are pretty big thresholds to improve the supply side." Watch the full clip.