The invisible hand of market forces steering our economy is still a corona virus. The economy contracted at a record 30+% pace when this pandemic spurred a national lockdown and when COVID metrics improved from late April to mid June we saw an improving economic scorecard as many cities slowly…
“Build it and they will come” (Field of Dreams) is a demand driven mantra that applies to the secular housing shortage today. The normal business world responds to shortages by rationing supply with higher prices until production can rise to meet demand. However, over the past decade the residential construction…
It’s widely assumed that consumer spending and home buying will remain depressed while virus fears are elevated. When the US and most of the globe shut down their economies to slow the Covid pandemic in March, there was no time to examine unintended consequences. With a health emergency projecting Millions…
Toll Brothers stock, one of the largest home builders, is down a whopping 35% from its peak this year as housing prices keep reaching new astronomical heights. The median home price in Tribeca, Manhattan is over $5 Million. Not a problem for Justin Timberlake, but many worry that the wave…
The national debt here and around the world continues to grow inexorably toward the stratosphere, yet households have steadily improved their balance sheets. Household debt to GDP has fallen from almost 100% to just 80% since 2008. Individual assets have risen at a rapid 10% rate that far outpaces consumer…
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