Housing Developments Podcast

Soaring interest rates are crushing the real estate market causing many home builders to increase incentives or lower prices, which was the whole point in the first place, right?

Transformers are a problem! Not the robot/cars of 80s TV and 00s movies, the complicated equipment that converts and routes electricity at power stations. They are in short supply and it's becoming a huge issue for land development and home building.

When is robust hiring seen as a bad economic sign? When the Fed wants to reduce inflation by forcibly sending more Americans to the unemployment line, that's when.

Congress returns this week for a lame duck session that will see a sprint to pass Democrats' priorities before Republicans take control of the House.

The declining market for new homes purchases is driving up the share of single-family homes being built for rent. Have a happy Thanksgiving; the Daily Drill is taking next week off. We'll see you again on Monday, Nov. 28.

Yesterday, we said that home builder confidence was down, which would lead to fewer housing being built. Today, government data showed that home starts did indeed fall last month and are down more than 7% year to date. See, we know what we're talking about!

The NAHB/Wells Fargo Housing Market Index (HMI) declined again in November for the 11th consecutive month to a decade-low reading of 33. Rising interest rates and stubbornly high home prices are pushing buyers out of the market and home builders are feeling the effects.

Are we in a home buyers' market or a sellers' market? How about neither!

Get ready for a crazy week! We should finally have some clarity on the balance of power in Congress. But all eyes are on Tuesday, as the GOP will press forward with leadership votes and there might be an announcement from a particular Florida man.

The markets sure did like the inflation data this week showing a slowdown in price gains. Mortgage rates may follow. Also, there was interesting data on manufactured housing demand from a recent poll. Check it out: https://morningconsult.com/2022/11/10/manufactured-housing-investment-dwelling-units-mobile-homes/.