“Davidson” submits: Once a quarter, the St Louis Fed releases delinquency rates on consumer and business loans. With the consumer 67.8% of GDP this chart shows the two categories of consumer ...
The multi-family market is cracking. Starts continue to decline at a high rate (24% YOY). Think about it, given the government’ss forced eviction freezes, rent moratoriums, and mandatory forbea...
While I admit we are not in a recession now, my fear remains this fall….. “Davidson” submits: With many disconcerting headlines still confusing forecasters, there is one major theme which j...
https://www.valueplays.net/2020/08/18/residential-building-employment-rebound/
I’ve long said that what was missing from a full housing rebound and the associated ancillary benefits of that (more employment, additional GDP growth etc) was the starter home and those first-...
https://www.valueplays.net/2020/01/17/here-come-the-first-timers/
“Davidson” submits: The history of bank lending vs deposits shows a gradual increase from under 70%(bank reserves 30%+) to a 1990 peak of 89% which then pulled back to ~80% with the scare ...
“Davidson” submits: The HMI, a builders sentiment indicator, was reported a cycle high 76. Note that Single-Family Starts does not support this enthusiasm. It is likely that the builders a...
“Davidson” submits: The MCAI(Mortgage Credit Availability Index) is reported at 188.9. May 2019 was the previous high reported at 189.5. Since then we experienced a sharp yield curve in...