One Rental At A Time Bitcoin Goes Below $90,000
Nov 18, 2025
Bitcoin's dramatic drop below $90,000 raises questions about its market implications. Home Depot's dismal earnings hint at waning homeowner spending and longer housing tenures. Meanwhile, Klarna's rapid growth brings concerns about the risks of buy-now-pay-later schemes. A rise in pending home sales might signal a market bottom, while record high delinquencies across various loans showcase post-pandemic corrections. Lastly, inflation mentions have plummeted on earnings calls, suggesting shifting corporate priorities.
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Home Depot Earnings Reveal Deferred Home Spending
- Home Depot beat revenue but missed earnings and cut guidance, showing weakening homeowner spending.
- The CFO described a 'deferral mindset' where homeowners delay projects, hurting Home Depot's profits.
Longer Home Tenure Lowers Housing Activity
- The host links Home Depot weakness to record-low housing turnover, now rising from eight to around 12 years.
- Longer home tenure reduces renovation and moving-driven spending across related industries.
BNPL Growth Masks Underlying Risk
- Klarna reported 26% revenue growth and 100 million users, yet buy-now-pay-later worries persist.
- The host views BNPL as a potential disaster despite top-line growth and user counts.