Yes, housing prices are in a mild decline - -1% nationally - and yes commercial space vacancies are high - anyone watching that sector knows it - but known of it makes Elon Musk a real estate expert or an economic Oracle.
I notice today he was in Shanghai meeting the CCP foreign minister (and former CCP ambassador to the U.S.) to discuss his committment to EV production in China which now amounts to 60% of his EV production. He said there that he is against any U.S.-CCP economic decoupling. Of course he is; he’s made millions selling hugely expensive EVs made with cheaper Chinese labor (Chinese wages are 27% of U.S. wages).
“Chinese wages are 27% of U.S. wages”
I’m seeing more stuff made in India and Vietnam.