**LEGAL ISSUES OF THE DAY**

An interesting fact: 3 times in history, households owned more wealth in stock certificates than in their residences.

According to data from the Federal Reserve, the value of securities reached $61.1 billion, while real estate amounted to $49.3 billion.

The first occurrence was in 1968, when the market lost 48% in the subsequent 6 years.

The second was in 1999, when the market lost 49% in the following 3 years.

We are writing history for the third time.

Shiller's CAPE data reached 40, the second highest in the past 150 years.

The top 10 stocks hold 39.1% of the value of the S&P 500, exceeding concentration levels in 1929 and 2000.

Passive investment funds control 52% of equity assets, this market buys without asking prices and sells without tolerance.

**OF THE ARTICLE ON LEGAL BREAKING**

A sign that the economy is weakening: commercial real estate debt reaches 7.26%, while the office sector hits 11.68%.

Before 2026, over $1 trillion in debt will mature at rates that are unmanageable for borrowers.

Michael Burry, who earned 489% returns by betting against the real estate market in 2008, invested $1.1 billion in options against AI companies leading this disparity.

He named his newspaper Cassandra Unchained - in Greek mythology, Cassandra was given the gift of prophecy but was cursed to be disbelieved.