During the day on Tuesday, the S&P 500 poked its head above 4,325. That’s a place the index has not been since early May. The S&P 500 has now gained back more than half of what it lost during this year’s unpleasantness.
The National Association of Home Builders/Wells Fargo Housing Market Index fell 6 points to 49. That was its eighth-straight monthly decline.
The reason why this is so important is that 50 is the tipping point. Any number above 50 is considered positive, while any number below it is considered negative. Now we’re negative. Except for a brief period around Covid, this index hasn’t been negative in eight years.

The broader economy is probably not in a recession at the moment, but its most important sector likely is.

@crash You might want to read this: https://time.com/5405158/the-true-history-of-americas-private-prison-industry/

The amounts shown in the table are 0.00% to reflect the fact that the Fund does not pay any advisory, administration or distribution and service fees, and that Loomis, Sayles & Company, L.P. (“Loomis Sayles” or the “Adviser”) has agreed to pay certain expenses of the Fund. You should be aware, however, that shares of the Fund are available only to institutional investment advisory clients of Loomis Sayles and Natixis Advisors, LLC (“Natixis Advisors”) and to participants in certain approved “wrap fee” programs sponsored by broker-dealers and investment advisers that may be affiliated or unaffiliated with the Fund, Loomis Sayles or Natixis Advisors. The institutional investment advisory clients of Loomis Sayles and Natixis Advisors pay Loomis Sayles or Natixis Advisors a fee for their investment advisory services, while participants in “wrap fee” programs pay a “wrap” fee to the program’s sponsor. The “wrap fee” program sponsors in turn pay fees to Natixis Advisors. Participants in “wrap fee” programs should carefully read the wrap fee brochure provided to them by their program’s sponsor. The brochure is required to include information about the fees charged by the “wrap fee” program sponsor and the fees paid by such sponsor to Natixis Advisors. Investors pay no additional fees or expenses to purchase shares of the Fund. Investors will, however, indirectly pay a proportionate share of those costs, such as brokerage commissions, taxes and extraordinary expenses that are borne by the Fund through a reduction in their net asset value. See the section “Management” in the Statutory Prospectus.

Schrager is a Senior Fellow at the Manhattan Institute-a right-wing think tank, so there's your explanation !