RIP Sam Zell, Home Depot Falls Off and Remodels are Mid

<p>According to a report from the Commerce Department, retail sales increased but fell short of expectations. The advanced sales report showed an increase of 0.4%, below the Dow Jones estimate for 0.8%. Excluding auto-related figures, sales increased 0.4%, which was in line with expectations. As the numbers are not adjusted for inflation, the headline increase equaled the 0.4% monthly rise in the consumer price index. On an annual basis, sales were up just 1.6%, well below the 4.9% CPI pace.</p><p>In this episode of The Higher Standard, Chris and Saied examine this news and determine the effect it will have on the economy as a whole.</p><p><br></p><p>They discuss news that stock in Home Depot tumbled more than 5%, or $13 a share, in premarket trading, which was worth about 100 points on the Dow Jones Industrial Average. Once trading opened, the stock recovered some of its gains, and was recently down about 1.5%, still big enough to shave about 30 points off the Dow.</p><p><br></p><p>Chris and Saied look at a Census Bureau survey, showing that more Americans struggle to meet expenses now than in the immediate aftermath of the Covid-19 pandemic, when millions lost their means of employment. About 38.5% of American adults — or 89.1 million people — faced difficulty in paying for usual home expenses between April 26 and May 8. That’s up from 34.4% a year ago and 26.7% during the same period in 2021.</p><p><br></p><p>They also offer some thoughts on the passing of Chicago real estate magnate Sam Zell, who earned a multibillion-dollar fortune and a reputation as “the grave dancer” for his ability to revive moribund properties.</p><p><br></p><p>Join Chris and Saied for this fascinating and informative conversation.</p><p><br></p><p>Enjoy!</p><p><br></p><p><br></p><p><strong>What You’ll Learn in this Show:</strong></p><ul><li>Why retail sales rose 0.4% in April, and why this is indicative of bad things to come.</li><li>The concept of a real estate trust.</li><li>A University of Michigan report showing that consumer senti