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America’s Homebuilders Are Feeling A Lot Better
While previewing this week's sparse collection of scheduled US macro data, I suggested the Fed should be on alert for evidence that housing is picking up again.
The issue is simple: With stocks in a bull market and home prices still far closer to the record highs seen last summer than pre-pandemic levels, it's eminently possible that monetary policy hasn't done enough to squelch the wealth effect, which may in turn be a factor in explaining the persistence of core inflation.
During Q1, gains f
I just listed, and sold within 48 hours of listing, my parents’ home that they built and we moved into when I was 4 and my brother was 2. We lived there for years without carpeting or air conditioning or a color TV because unless my dad ( my mom stayed home raising us and taking care of family pets) had the cash….. the improvements didn’t get made. But it was a super neighborhood, so worth it.
This is crazy- but the house sold to the granddaughter to one of my parents’ neighborhood friends— for $20k (8%) over asking at $120/sq ft. (Very well maintained) In the capital city of a midwestern state.
The couple who purchased is expecting their first child- I threw in all the furniture, and can’t wait to meet her after closing. The couple both have remote jobs. They waived the appraisal contingency.