'Thunder Clouds On The Horizon' In Housing

10/30/19 01:05PM EDT

https://youtu.be/E0rTWOr13S0

As our subscribers know, we have been bullish on U.S. housing since October 2018. We caught considerable flak for that contrarian call at the time. But history shows that it was right on the money. Incidentally, we still have a positive outlook on the U.S. housing complex for the rest of 2019.

That said, Hedgeye Housing analyst Josh Steiner explains in the clip above that there are some ‘thunder clouds on the horizon’ stemming from falling home prices in some key metro areas and declining foreign demand.

“Particularly on the west coast, in places like Seattle, San Francisco, Portland and Los Angeles, the deceleration there is pretty amazing,” Steiner explains.

“One of the reasons why, but certainly not the only factor, is that foreign demand for U.S. residential real estate has slowed down very significantly.”

Watch the clip above for more.

'Thunder Clouds On The Horizon' In Housing - hedgeye risk manager

© 2020 Hedgeye Risk Management, LLC. The information contained herein is the property of Hedgeye, which reserves all rights thereto. Redistribution of any part of this information is prohibited without the express written consent of Hedgeye. Hedgeye is not responsible for any errors in or omissions to this information, or for any consequences that may result from the use of this information.