D.R. Horton ($DHI) podcast mentions

1. First though, let's do the numbers. Well, here you go. Kevin War started talking, stock started falling. Dow Industrials down 631 points today, 1.2% finished at 51,400. 4.61. NASDAQ basically flat, 25,978. S&P 500 gave back about 33 points, 0.4%. 7,551. Heard a lot about the Fed's rate hike today. Higher interest rates, of course, weigh on banks by curbing loan demand and doing a whole bunch of other stuff. Goldman Sachs fell 4% today. Wells Fargo sank 3%. Citigroup weakened 2.4%. JP Morgan Chase slid 1%. Kelly Wells was talking about mortgage applications. Rocket Companies, one of the biggest mortgage lenders in this economy, felt the sting today, dropped 1.8%. One of the biggest homebuilders also took a hit. D.R. Horton contracted 1.3%. Amazingly, tech was a bright spot.

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2. Yeah. Even in single-family, uh, because they are trying to satisfy the market. There's a lot of pressure on builders to cure the housing shortage problem. Um, but yes. They are building more. And what's interesting about it is these builders are building bare bones. If you go to the Lennar website or the D.R. Horton website or KB Homes, those are kind of the big entry-level build. Well, Lennar built some higher-end homes, but they build entry-level too. They are building some really bare-bones houses. No garages. Two bedroom, two bath, tiny little houses. Very basic finishes, albeit nicer than any home you saw in Lakewood, California, or Long Beach, California, where I used to live after World War II, right in the baby boom. But we've all become spoiled as to our idea of what is basic anymore, right? So yeah, they are building some really lower-end houses to try and meet that demand. It begs the question, why didn't the builders build more entry-level housing coming out of the Great Recession? Well, they didn't because there's just no money in it. The construction materials, the cost of labor, I mean, that has put enormous pressure on builders. And home construction is still a very primitive process, which I think is completely dysfunctional. We need to, as Americans, start accepting manufactured housing. Yeah, and that's not your grandpa's double-wide trailer. The manufactured housing today is quite nice. There are two-story manufactured homes. You know, it's just more logical to build a house in a factory and bring it to the job site and assemble it there rather than doing it piece by piece.

   Jason Hartman · Thoughtful Money with Adam Taggart · The Bullish Case For The Housing Market | Jason Hartman · 2026-09-03