Bidenomics? US Pending Home Sales Plunge More Than Expected In May To -20.8% YoY (Negative On Top Of 25 Straigth Months Of Negative REAL Wage Growth)

Bidenomics continues to disappoint as the economy suffers from consecutive years of negative wage growth and a sharp decline in Pending Home Sales. In May, pending home sales plummeted by 2.7% month-on-month, far worse than anticipated, and marking a distressing 20.8% year-over-year drop. The middle class and low-wage workers bear the brunt of inflation, further exacerbating their financial hardships.