Recent News

/Recent News

Dueling Data

Dueling Data  Consumer confidence is by some measures at its highest level since 10/2000. Unemployment is microscopic, pay is up, and GDP growth is strong. Yet housing slumps. Pending sales are down Y-o-Y for seven straight months, existing sales have fallen four months in a row, home price increases are slowing, as are starts, homebuilder [...]

2018-09-18T14:28:18+00:00 September 18th, 2018|Recent News|0 Comments

Returning Reasonableness

Returning Reasonableness   After a decade of weak inflation, suddenly synchronized global growth, the fastest US wage increase since 6/09, and fiscal stimulus from the GOP tax cut have convinced investors it will become pervasive. This, they fear, will cause the Fed to raise rates more rapidly than expected and is what precipitated the steep decline [...]

2018-02-15T09:52:22+00:00 February 15th, 2018|Recent News|0 Comments

Fewer Firms

Fewer Firms   In 2017, 1.2 million houses were started. While that's double the number of starts in 2009, the worst year on record, it's still 400,000 starts below what's needed based on population, job growth, and teardowns. This means we're currently underbuilt by 4,500,000 units, with the gap widening, albeit more slowly now than [...]

2018-01-10T10:30:04+00:00 January 10th, 2018|Recent News, Uncategorized|0 Comments

Deed Deductions

Dead Deductions  While the final draft of the Republican tax-code rewrite improves its treatment of housing, the gains are superficial. This is because the standard deduction is being doubled, making itemizing largely irrelevant. And, while state and local income taxes will remain deductible, the deduction is capped at $10,000 including property taxes! Therefore, in areas [...]

2017-12-20T14:16:54+00:00 December 20th, 2017|Recent News|0 Comments

Halting Housing

Halting Housing   While housing starts in October rose 13.7% compared to September, they remain 2.9% below the level of 10/16, and are up just 5.8% YTD. Technically, it's because multifamily activity is down roughly 10% YTD. That's because multifamily activity has returned to its pre-recession level of roughly 400,000 units/year and is very volatile [...]

2017-11-28T12:42:10+00:00 November 28th, 2017|Recent News|0 Comments

Check this out!

“Naples area commercial property capitalization rates usually reflect an expectation of equity growth higher than the national average, rental rates increasing faster than national averages, and excess capital chasing a shortage of good real estate. Consequently, for a given property type local capitalization rates are often marginally lower than the national average. National cap rates [...]

2017-10-16T11:44:31+00:00 October 16th, 2017|Recent News|0 Comments