MARKET MELLOWS, HOME PRICES AFFORDABLE?

The median price for homes that account for 87% of all home sales in America is now $363,000. This is up $4000 from last month, but down $50,800 from last summer. In our existing home sales analysis below, we show whether a $363k home is affordable. Do you agree with our math?

Also, Treasury chief Yellen today shared critical notes on the government's bank crisis playbook, which we have highlighted. This has calmed stock and bond/rate markets for now. Of note: it appears the government is placing consumers and local communities above big banks.

But don't be quick to bash big banks either. They're key government partners in crises like this. There's a story on the latest with First Republic below too. The fate of that bank is a key indicator of how local and regional banks will fare as this plays out.

Please keep your replies and intel coming!

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Julian