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.
Single-family giants are selling houses they bought amid the Housing Bust and shifted to new construction of build-to-rent developments. Multifamily caught up in CRE turbulence.
