Gary Carmell
Posted in Apartments, COVID 19, Economy, Housing, Interest Rates, News, Real Estate
1 Comment ↓
At CWS we have been heavily focused on growth-oriented markets that have large in-migration due to a competitive cost of living, high quality of life, and pro-business environment. This has led us to be heavily concentrated in metro areas such as Austin,
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Gary Carmell
Posted in COVID 19, Economy, Housing, Interest Rates, Investing, Trends, Uncategorized
2 Comments ↓
There’s no question now that the Federal Reserve is in full hawkish mode. The release last week of the minutes of the previous FOMC meeting left no doubt that they are on an aggressive path to squelch inflation through demand destruction and tightening financial conditions.
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There’s nothing like a challenge to focus one’s mind, attention, and organization of one’s life to meet that challenge. I was playing doubles last Tuesday night and right before the match, I received a text from someone who I play singles with fairly regularly.
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Investors are always asking the question what inning are we in when it comes to where we are in a particular cycle. It’s a pertinent question related to housing as it has had a tremendous run in terms of home price appreciation, equity build-up among homeowners, and tremendous profits for builders and investors.
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Hey, don’t you worry, I’ve been lied to
I’ve been here many times before
Girl, don’t you worry, I know where I stand
I don’t need this love,
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2021 is now in the history books and it should be a year worthy of study and reflection. We had to work through a full year of Covid and the huge collateral damage that it has done to people’s physical and mental health,
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One can see that natural gas has gained the most market share of the world energy supply between 1973-2019. Oil’s share has dropped quite significantly during this same time frame. With that being said the second chart shows that it has still grown materially but not nearly as much as natural gas and nuclear.
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Urban locations with great walkability were in great demand…until Covid hit. These locations became far less desirable as congregating was either not allowed in large numbers or people didn’t want to gather together in close quarters for fear of exposing themselves to Covid.
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At the depths of the Great Recession in 2008 and 2009, it was nearly impossible to determine what the right valuation metric was to value apartment investments. Fear was pervasive, people didn’t know if Net Operating Incomes (NOIs) were going to fall off a cliff, lenders were very conservative,
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The answer? See for yourself, is it inflation or housing or both?
If Google Trends are any indication then inflation has been a top-of-mind topic.
CPI – Consumer Price Index
This is not surprising as one has to be a survivalist living far away from civilization and fully self-sufficient to have not been impacted by rising prices and slower delivery and service times.
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