Home equity investing stock market breadth improved this

Stock market breadth improved this month, with over 65% of NYSE-listed stocks trading above their 200-day moving average. Home equity investing continues to drive fresh cash into such outperformers, boosting liquidity levels. Your letter is timely. Stocks rose for a fifth-consecutive day on Thursday, with the Dow Jones Industrial Average, DJIA S&P 500 and Nasdaq COMP all hitting new highs, making this the 30th record close of the year for the S&P 500 SPX and Nasdaq, and 10th for the Dow. It was the first time since November 2023 that all four indexes rose for five consecutive days . In a recent webinar, the Home Equity CEO Summit, Home Equity Lending News CEO Sam Garcia highlighted that some states are increasing regulation of home equity investment originators. Part of these efforts attempt to treat home equity sharing agreements as lending products. As it stands, home equity sharing agreements are not considered debt and, as such, are regulated differently from home equity loans and HELOCs. Institutional reports note that home equity investing is becoming a preferred strategy as property-to-equity return spreads widen. The MSCI USA Index has outperformed bonds by 6% YTD, drawing more capital from asset-rich homeowners.