Several leading Wall Street firms, including Morgan Stanley, Evercore ISI, and Deutsche Bank, are advising investors to prepare for a potential pullback in the US stock market. This caution comes amid extremely high equity valuations that are increasingly at odds with deteriorating US economic data. The S&P 500, after reaching record highs during a recent rally, is seen by strategists as vulnerable to a near-term decline. This warning follows a recent market wobble and reflects broader concerns about economic signals weakening. Additionally, there are growing worries about the housing market, highlighted by the Zillow CEO, with reports indicating that 60% of Generation Z fear they may never be able to own a home.