Last week we had our annual investor meeting. It was the first time we met in person since 2019. It was so nice to be together again. Despite not communicating the rosiest of messages, it was an evening that had great positive energy.
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Blog Archives
Getting in the Arena in Austin - Resilience
by 
Gary Carmell
Posted in Apartments, COVID 19, Investing, Labor, Personal, Psychology
No Comments ↓
Gary Carmell
Posted in Apartments, COVID 19, Investing, Labor, Personal, Psychology
No Comments ↓
One of the beneficial things about writing a blog each week is that it helps me prepare for presentations that I have to do periodically. Last week we had our national meeting in Austin for many of our CWS employees, and this week we have our annual investor meeting.
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From Housing to Labor and Back Again
by Gary Carmell
Posted in Apartments, COVID 19, Economy, Housing, Interest Rates, Labor, News, Real Estate
No Comments ↓
Gary Carmell
Posted in Apartments, COVID 19, Economy, Housing, Interest Rates, Labor, News, Real Estate
No Comments ↓
I think this chart is what keeps Jay Powell up at night. If he were convinced beyond a reasonable doubt that we were still in the same low inflation regime that had been present for decades prior to Covid,
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Powell's Conundrum: Demand and Supply
by Gary Carmell
Posted in Economy, Housing, Labor, Manufacturing, Real Estate, Stock Market
1 Comment ↓
Gary Carmell
Posted in Economy, Housing, Labor, Manufacturing, Real Estate, Stock Market
1 Comment ↓
In my 35 years working at CWS and the years before that in college, when I first started taking economics classes, the most common term to find the equilibrium to determine optimal price has been “supply and demand.” I have also come to learn that words matter,
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Labor, Housing, and Fed Policy
It’s becoming even more clear that in order to stifle inflation, the Fed is going to have to induce a recession.
The following chart shows that it takes a recession to stamp out inflation or bring it down even more,
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Laboring over Labor
We finally had a CPI report that the market responded favorably to. The prior six releases led to market losses. Last week’s report led to a nice gain.
As an aside, this chart shows how incredibly fast margin debt went up and now down during the bear market that just took place.
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