The years 2020 and 2021 will go down as the greatest era ever of consensual hallucination and financial gangsterism.
Starts: Single-family houses: -18.8% year-over-year; larger multifamily buildings: +15.9%. Here are the long-term trends.
Because suddenly the SoftBank-backed company, which blew $1.73 billion since 2017, is running out of runway.
Homebuilder sentiment dives 8th month in a row, their stocks are down 19% to 36% YTD despite blistering summer rally.
Average prices jump relentlessly from record to record.
Charts of stocks like these – hundreds of them now – are an indictment of the mania in 2020 & 2021. We’ll be shaking our heads for years.
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Sales volume plunged 38%.
Biggest investors in single-family houses: “We need to be patient and allow the market to reset.”
Inflation in services is now where the action is, not commodities or durable goods.