Opendoor Technologies Inc (OPEN)

[santafe2]

Using short term, 30 & 90 day CDs. This is a transitory position and based as much on the debt ceiling political disagreement as the current financial issues and the deteriorating economic conditions. We'll know more when Powell speaks tomorrow afternoon. I suspect the Fed is still focused on inflation as weekly initial unemployment claims are only slightly elevated over pre-pandemic numbers. I suspect they'd like to see this above 250,000 a week. Here's a link if you want to track it. Numbers come out each Thursday.

https://fred.stlouisfed.org/series/ICSA

As I mentioned in my previous post, housing prices are not falling much because inventory is still quite tight. Case Shiller national housing index is down ~5% since last June. Now that we're in the spring buying season, prices are moving up again. See an article here:

https://www.cnbc.com/2023/05/02/home-prices-rise-in-march-amid-competitive-spring-market.html