At least home prices are at all-time highs. This is fine.
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Oh and just an FYI, most construction loans are variable rate. Soooooo, those of you that live in areas where construction is booming right now, could see a ‘flash bust’ in construction. Where I live in NC, I’m expecting this hammer to drop any week now. Hardest hit will be multi-family units probably.
Just Sayin’
Doesn’t bode well for 1st time buyers.
DINKs millennials earning 6 figure incomes the exception.
Now do a chart showing rental price trends.
Should’ve – could’ve – wish-i’d’ve – bought a rental for a pittance around ’09.
In the right neighborhood, of course.
Mish had a clue back then, B4 Blackcock et. al scooped up many single family rez’s.
Meanwhile, Skippy’s doing gummies & gaming in Ma & Pa’s basement, going on 3 years +.
A buddy in the lending industry based in Columbus tells me biz is slow.
Maybe not in the Beltway, though.
Those circles have no issue finding the funds for large square footage erections.
Likewise, twas saline if they opted in, in 2021. None getting jabbed with certain strains of mRNA,
as another one in RE thereabouts knows nobody who croaked, so he ain’t buying either.
Nothing that a gallon of gas and a road flare couldn’t take care of.
Jew1sh lightning?
Climate Change pulses?
Just waiting for The Crash to buy my retirement property and leave the corporate world forever. October of this year is my guess.
Buffett just bought three home builders.
But he’s never made a good investment in his life?!?!?