A clip down

The average 30-year fixed mortgage rate slips to 7.41%

Spread: 277 bps

No banking crisis this year, spreads have been much better, even though they're historically high

A look at parent-child co-ownership of property in Canada

www150.statcan.gc.ca/n1/pub/46-28-0…

ICYMI
Fear of an ageing population is age old

The Australian Treasurer in 1935 was also concerned about the ageing problem, the pension system and the budget

fresheconomicthinking.com/p/fear-of-an-a…

I often hear about property owners competing down prices.

There is a good reason this never happens, as I explain here.

New FET article:
Patient property owners...
and the illusion of competitive land markets

'Through property trades and trial-and-error, the ownership of property always falls into the hands of the most patient owners who aren’t in a rush for cash'

fresheconomicthinking.com/p/patient-prop…

Strained housing affordability has builders going smaller—just look at what Lennar is building in Dallas

3 bed
2.5 bath
1,376 sq ft

Jon Greany: 'For an entry level buyer or someone downsizing into something lower maintenance it makes a lot of sense'
resiclubanalytics.com/p/strained-aff…

Every single one of my most talented friends is either already running their own business or planning their escape from their job

Corporate world is completely cooked talent-wise

In March, Lennar co-CEO Stuart Miller informed investors during their earnings call that there is ample demand for single-family new construction, provided it is offered at the right price point

In April, D.R. Horton CFO Bill Wheat told investors on their earnings call that: 'we have reduced the prices and sizes of our homes where necessary'

My latest on shrinking home size for ResiClub
resiclubanalytics.com/p/housing-affo…

D.R. Horton Lennar’s Rincon model above (1,376 sq ft) is double the size of the tiny homes Lennar is building in San Antonio

7.43% - The average 30-year fixed mortgage rate today

4.0% - The effective mortgage rate on outstanding U.S. mortgages
resiclubanalytics.com/p/navigating-l…
x.com/ResidentialClu…

A broader measure of home prices, the national index, rose 0.4% in February and also was up 6.4% over the past year. All numbers are seasonally adjusted.

I credit my immune system’s strength to having survived drinking out of these motherfuckers every day after every kid in my school put their germ-infested lips all over them. I’m unfuckwithable.

PulteGroup CEO Ryan Marshall on last week's earnings call:

'In a market where home prices are high and because of limited inventory, they will likely continue moving higher. Our company’s ability to offer targeted incentives, particularly mortgage rate buy-downs, is a powerful…

This poll is heated - where do you want to see the next analysis?

The news from yesterday 👇
x.com/NewsLambert/st…

Blackstone is the nation's largest owner of student housing. It has 140,000 'beds.'

It's selling 10,000 beds to KKR.

That will take KKR to 25,000 'beds.'

The “Cyclical Economy” aggregates employment and output for the high-powered engine of economic growth including residential construction, manufacturing, and durable goods consumption/transportation.

Recessions always come with an annual contraction in the rate of growth for the…