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Tuesday, June 21, 2022 by Robinhood Snacks |

Movin’ back in with Mom… Millions of Americans raced to buy their dream homes last year — now that dream is impossible for many. Soaring mortgage rates, low inventory, and sky-high prices are finally cooling the hot housing market. Mortgage applications fell to a 22-year low last month, and online brokers Compass and Redfin did mass layoffs last week. Homebuilding giants Lennar and KB Home saw sales dip from records last quarter (we’ll get fresh earnings this week). Still, experts say it could take years for home prices to really cool.

Need Thrifty-er ice cream… Rite Aid’s losses deepened last quarter after it took on debt to build more pharmacies, while its drugstore rivals invested in profitable ventures (think: wellness clinics, insurance partnerships). Earnings jumped at CVS and Walgreens as Covid tests and vaxxes continued (though fewer), and Pfizer’s Covid pill boosted sales. While CVS and Walgreens boosted their earnings forecasts for this year, Rite Aid — which reports Thursday — expects sales to dip despite rising store visits as it cut costs.