Housing Starts Jump 11.8% But Growth has Seesawed Wildly for a Year
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5 Comments
Newest
2 years ago
An almost 12% increase in spending $400K of scarce resources, in exchange for what anyone competent could build for $50-80K!
Hard to beat that effort, as far as wanton value destruction is concerned.
Now, all that’s required, is making sure The Fed forces those who didn’t contribute their share to this, latest, chapter of Great Dystopian Value Destruction experiment, to pay for it all.
We really need to replicate this obvious success in applied progressivism, to food production as well: Put in place nutrition-use restrictions and permitting processes, such that a bowl of soup costs 5x what goes into it in ingredients and labor. Then those who are smart enough investors to be handed Fed welfare to buy tomatoes with, can be smart investors who did the right thing as well. Doing the right thing, meaning destroying capital at a 5 to 1 ratio, that is.
2 years ago
This market has legs. But all the covid delays, shortages & price hikes have legs too. People I talk to and respect all now say 2023 MIGHT be the year things settle down and get back to the new normal (whatever that might be), and I agree.
2 years ago
The 15% or so yoy increase in rent …
2 years ago
Construction has been delayed and held up by the supply chain issues. Completions should pick up starting mid 2022. Let’s see if increased supply changes price dynamics in late 2022.
2 years ago
They’d build them faster if they could. Demographics is driving the demand for housing, and that will support prices for single family units, even if rates do go up a bit. Inventory here is back down to a 0.8 month supply, and currently falling.