In some ways, I can understand investors looking through the threat of tariffs on multiple fronts by President Trump as just his standard negotiating tactic to strike a better deal. Despite very derogatory statements directed towards our strong allies and trading partners of Canada,
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Hurricane Michael created unfathomable devastation to Florida Panhandle beach communities. What was particularly insidious was how fast it formed and deprived people of precious time to evacuate. This picture is one representation of the fury of Mother Nature and the wrath she brought down.
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It has been our belief at CWS that housing in totality has been undersupplied. This does not mean that apartments may not be over-supplied in certain metro areas, particularly in the urban core. This is the case because these properties are often very dense and result in the delivery of a lot of units at one time that can often result in rent discounts to entice people to rent at these communities so developers can expedite getting out of their construction loans and/or be in a position to sell their properties.
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Are We Opening Pandora’s Box to a New Housing Crisis?
With the regulator of Fannie Mae and Freddie Mac announcing that the Government Sponsored Agencies will probably start purchasing loans with 3% down payments, it’s understandable that people would be concerned that we’re opening up Pandora’s Box again to a new housing crisis precipitated by terrible lending practices.
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Gary Carmell
Posted in Economy, Interest Rates, Investing, News, Trends, Uncategorized, Wealth
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For the last few years, the Fed has been telegraphing that monetary policy cannot do all of the heavy lifting and that fiscal policy had to play a role as well. The market seemed to agree with the Fed and is also the reason that the market very rarely believed the Fed’s dot plot of the future path of interest rates.
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When we started to scale our apartment business in the mid to late 1990s our location decisions were based on investing in cities that would be highly appealing to knowledge-based workers. It was starting to become clear that economic growth would be driven by technological innovation deployed widely throughout U.S.
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I recently completed a wonderful, classic book called The Art of Loving by Erich Fromm. It has great applicability to all relationships, not just your primary one with your spouse or significant other. I found there was also a lot to apply in terms of helping us at CWS to build upon our tremendous focus on communicating with and serving our investors.
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Gary Carmell
Posted in Economy, Interest Rates, Investing, News, Stock History, Trends, Uncategorized, Wealth
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In an earlier blog, I discussed a fascinating study that asked whether stocks outperformed T-Bills. Surprisingly, the answer was that most stocks do not and the bulk of stock market returns have come from an incredibly small number of companies that have produced the estimated $32 trillion in wealth (returns in excess of T-Bills) between 1926 and 2015.
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In 1986 Dan Rather was attacked on the streets of New York City by an assailant who kept asking “Kenneth, What’s the frequency?” And if Dan Rather hoped to forget about the incident this became impossible as R.E.M. memorialized it with their huge hit in 1994 of a slightly different title called What’s the Frequency,
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Gary Carmell
Posted in Advice, Economy, News, Psychology, Stock History, Uncategorized, Wealth
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Paul O’Neill, who ran Alcoa and quintupled profits during his 13-year tenure, famously focused on one keystone habit to transform the company. It’s worker safety. Analysts and investors couldn’t believe their ears when he was introduced as the new CEO when he said that would be the company’s most important focus.
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