⚠️ 𝗨𝗦 𝗵𝗼𝘂𝘀𝗶𝗻𝗴 𝘀𝘁𝗮𝗿𝘁𝘀 𝗱𝗿𝗼𝗽 -𝟭𝟱.𝟰% 𝗶𝗻 𝗠𝗮𝘆 𝘁𝗼 𝟭.𝟭𝟴𝗠 — lowest since May 2020. Multifamily collapses -40.2%, single-family falls -1.9%. April revised lower by 73K units. 𝗛𝘂𝗽𝘇𝘆 𝘁𝗮𝗸𝗲: Sharp deterioration reinforcing the stagflation narrative. Weakening housing data typically precedes broader economic slowdown and complicates the Fed's position between fighting inflation and supporting growth. Difficult backdrop for risk assets. source: KobeissiLetter Track real-time signals & trade → https://hupzy.com/trending(Hupzy (Spot On Chain))