🏠 CEO of Reventure @nickgerli1 ON THE WARNING SIGNS IN THE HOUSING MARKET: "Existing home sales are around 4 million annualized right now. That's about what they were in 2008, 2009 during the worst financial crash in 80 years. Demand right now is comparable to that period." The builder signal that only happens in recessions: "Builder supply on the market is over 9 months of supply. Normal is 5 to 6. That only happens in economic recessions. You're seeing things that only happen in recessions, collapse in sales, builder supply through the roof, that are happening right now." The disconnect: "We haven't seen a legitimate economic recession. The unemployment rate is still 4%, the stock market is still booming. Part of me wonders if housing and the weakness in demand is kind of warning us about what the average American is feeling." "Maybe at some point we will have a labor market recession."