Ryan Serhant Says America No Longer Has A Housing Market

On today’s Hot Sheet, Byron Lazine breaks down Ryan Serhant’s CNBC Fast Money comments on why he believes there is “no longer a housing market in America,” along with the Federal Reserve’s July FOMC decision to hold rates steady despite a rare three-governor dissent.

He also reviews Logan Mohtashami’s Housing Market Tracker showing inventory continuing to outperform expectations and the U.S. Bureau of Economic Analysis (BEA) June PCE report, which showed inflation rising 0.3% month over month and 3.7% annually.