Episode Details

The stock market plummeted this week due to inflation data surpassing expectations, pushing the ten-year Treasury yield up and keeping mortgage rates high. Existing home sales missed targets, with prices at a record median of $417,700, but builders are struggling with lower rates and stable material costs. The hope for a rate cut in the second half of the year is dim, causing sentiment among builders to drop and prices to be slashed. Concrete Pumping and APi saw their stock prices drop, with Concrete Pumping experiencing a twelve percent sales drop. Investors should adjust their expectations as the construction industry faces stagnation and elevated costs.

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