Gary Carmell
In the short run, the Fed chose to keep up the inflation fight despite deteriorating financial stability emanating from a wounded banking sector. There is now a lot of market data corroborating that the Fed will have no choice but to start cutting rates soon.
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Gary Carmell
I’m going to breeze through a number of tweets and charts as I’m headed to watch the semi-finals and finals of the tennis matches at Indian Wells. The weather is going to be outstanding, and the matches have a similar promise.
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Gary Carmell
Like many others, I have been looking for where cracks in the financial system might appear catalyzed by the aggressive Federal Reserve rate hiking policy and balance sheet contraction. And while the housing market has been an obvious sacrificial lamb via much higher mortgage rates,
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Gary Carmell
With the renewed runup in interest rates, I thought it would be appropriate to revisit the homeownership market via a frenzy of charts. Of course, all real estate is local, but these overall trends are pretty powerful, so it would be unusual for most markets to be immune to them.
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Gary Carmell
2023 is already shaping up to be the year when the tsunami of office building defaults, foreclosures, and large losses for lenders and equity investors comes on with full force. Cracks have already appeared, and it is only going to get worse. The office building sector is impaired,
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Gary Carmell
Last week I wrote about the epiphany I had of focusing on loving to win versus hating to lose and how I savored a great forehand that I hit playing in a tennis tournament even though I lost. This led me to focus much more on the satisfaction of that great forehand versus what I didn’t do well or on the mistakes I made.
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Gary Carmell
A couple of weekends ago, I played in a tennis tournament. Then on the following Monday evening, I played doubles from 5:00 to 6:30, followed by a clinic from 7:00 to 8:30. Proving there’s no rest for the weary, the next morning, I had a training session from 6 to 7 and then played singles from 8:00 to 9:30.
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Gary Carmell
I recently returned from the National Multifamily Housing Council conference in Las Vegas. I have been attending the conference since very early in my career, which makes me one of the pioneer attendees as the organization was fairly new then, and there were probably no more than 500 people at the conference in the early 1990s.
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Gary Carmell
Give me a word
Give me a sign
Show me where to look
Tell me, what will I find?
What will I find?
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Gary Carmell
Last week was pretty important in confirming the trend change in interest rates and solidifying a slowdown in economic activity. Evidence of the economy slowing is reflected in more U.S. firms cutting their earnings guidance versus raising them.
As the above chart shows,
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