The Houses Are Fine (Flaming Marshmallow)

The Houses Are Fine (Flaming Marshmallow)

It wasn't all bad news on the economic front in the US Thursday although, as noted somewhat abrasively here, the idea that 900,000 initial jobless claims is somehow "good" just because it came in below economists' forecasts is tragically farcical. Outside of data from the labor market (you know, that place where real people work to earn the money they need to feed their families), Thursday's data was decent. Everyone knows the US housing market is doing well. True to form, housing starts poste
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2 thoughts on “The Houses Are Fine (Flaming Marshmallow)

  1. The housing starts are one major benefit of the asset inflation we’re seeing. The higher the prices are, the more houses will be built to take advantage of the higher prices. Hopefully that will help ease some of the higher prices even if the post-Great Recession era led to a huge deficit in housing stock and it will take a while to make up for that. I do wonder what will happen to all those high end luxury apartments that have been built in cities. Might it become affordable to live in a major city again?

  2. I mean ultimately the problem is housing around growing cities suffer from commute creep. Sure you can go farther out but eventually getting to work in under an hour has significant financial value. More if you have children and despite everything we learned this year… most companies want you warming chairs in an office. Print money or don’t… you still can’t make more land appear in proximity to workplaces. I don’t doubt we’ll get another dip but long term I expect housing to outpace a lot of other investments especially given that rents will likely resume uptrends when we exit this crisis.

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