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Bob Elliott, co-founder / CIO at Unlimited, observes that housing turned down even before the recent spike in long-end yields. March Case-Schiller price index has moved back into negative territory.
Elliott has previously challenged claims that artificial intelligence investment is powering the U.S. economy, arguing its macro impact remains limited in a recent note. He has also highlighted the current opportunity for investors to lock in nearly 3 percent real returns with 30-year TIPS, enabling reduced equity risk according to a separate report. His recent housing comments add to these observations on market conditions.