Examples: California, Texas, Florida, Washington, Oregon, Colorado, Arizona. In other states, homes still sell faster than before Covid, such as New York and Georgia (barely).
Corporate profits, after exploding in the high-inflation era, fell this year. Tariffs are very difficult to pass on after the price spikes in 2020-2022.
But profits are still huge after the pandemic free-money spike, except in auto manufacturing where losses pile up. Financial industry profits hit new record.
