According to @KobeissiLetter, President Trump announced a ban on institutional investors purchasing single-family homes, and Blackstone (BX) erased up to $17 billion in market value within minutes of the headline (source: @KobeissiLetter on X, Jan 7, 2026). According to @KobeissiLetter, this is a developing thread aiming to explain market implications, with immediate trading focus on the policy headline and BX price action noted by the source (source: @KobeissiLetter on X, Jan 7, 2026).

According to @KobeissiLetter, US home delistings rose by 18,460 year over year (+28%) in September to 84,278, marking the highest September level since 2017, source: @KobeissiLetter. According to @KobeissiLetter, a home is considered delisted if it remains off the market for over 31 days without selling or going under contract, source: @KobeissiLetter. According to @KobeissiLetter, delistings have increased by 38,527 (+84%) over the last four years, source: @KobeissiLetter. According to @KobeissiLetter, delistings now represent 5.5% of all active listings, the highest September share since at least 2016, source: @KobeissiLetter. According to @KobeissiLetter, the typical delisted home sat on the market for 100 days before being pulled, source: @KobeissiLetter. According to @KobeissiLetter, these readings signal a frozen US housing market, source: @KobeissiLetter.

According to Edward Dowd, he asserted that undocumented immigration has boosted US economic activity and put a floor under the housing market via rental demand. Source: Edward Dowd on X (Dec 5, 2025). For traders, rental-driven demand is material because shelter comprises roughly one-third of the CPI basket, a key input for Federal Reserve policy expectations that drive rates, the dollar (DXY), and cross-asset risk appetite. Source: U.S. Bureau of Labor Statistics CPI relative importance; Federal Reserve FOMC communications. Crypto market participants should note that changes in US inflation and rate expectations have been associated with co-movements between equities and major cryptocurrencies such as BTC and ETH, making CPI shelter prints and housing data potential volatility catalysts. Source: International Monetary Fund analysis on crypto–equity correlations; Federal Reserve communications on the role of inflation in policy. Equity and macro proxies to monitor include US REITs and homebuilder ETFs (VNQ, XHB, ITB) for housing sensitivity, 2-year Treasury yields for policy-path repricing, and DXY for dollar liquidity impacts that often spill over into crypto liquidity conditions. Source: Vanguard (VNQ) and State Street/BlackRock (XHB, ITB) fund documents; U.S. Treasury yield benchmarks; ICE U.S. Dollar Index methodology.

According to The Kobeissi Letter, the average price of a new U.S. single-family home has remained below the price of an existing home for 12 consecutive months, marking the first such stretch in 54 years. Source: The Kobeissi Letter (Nov 27, 2025). For traders, a persistent housing price gap can ease shelter inflation with a lag, and shelter is the largest component in the CPI that the U.S. Bureau of Labor Statistics tracks, shaping rate expectations monitored by the Federal Reserve. Source: U.S. Bureau of Labor Statistics; Federal Reserve FOMC statements. Policy repricing typically transmits through Treasury yields and the U.S. Dollar Index, and crypto assets such as BTC and ETH often see elevated volatility around CPI releases and FOMC decisions. Source: Federal Reserve; ICE Data (U.S. Dollar Index); CME Group.

According to @KobeissiLetter citing Zillow, 53% of US homes lost value over the last year, the largest share since 2012. According to @KobeissiLetter citing Zillow, national home prices were flat on average year over year even as values declined from peaks across major metros. According to @KobeissiLetter citing Zillow, the share of homes below peak levels is 91% in Denver, 89% in Austin, 88% in Sacramento, 87% in Dallas and Phoenix, and 86% in San Antonio. According to @KobeissiLetter citing Zillow, the national average drawdown from peak values is -9.7%, compared with -27.0% in 2012. According to @KobeissiLetter citing Zillow, these figures indicate a stagnant housing market backdrop for traders.

According to @DowdEdward, a widening gap between homes for sale and homes sold corresponds with declining home sales, highlighting softening housing turnover that traders should monitor across housing-related and rate-sensitive exposures; source: @DowdEdward on X.