Because that’s where the money is, on paper. But it’s not where the market is.
By city, down to the neighborhood.
Construction boom, flood of new high-end apartments, not enough demand, rising vacancy rates, and the biggest concessions since the Great Recession.
They’re settling in urban centers. In many ZIP codes, they’re already the majority. And they spend their money on rent.
Defying my dictum that nothing goes to hell in a straight line.
A structural shift with some significance for the auto industry.
Rents plunge in Chicago & Honolulu, spiral down in New York, Washington DC, & others, but surge in many markets.
A different set of private-equity firms, at the peak of the market, as brokers constantly blame low inventories of single-family houses for sky-high prices.
Lowe’s finally seems to get the brick-and-mortar meltdown.
Even brick-and-mortar sales at our hero-of-the-day Nordstrom actually fell!