Finally an economist that makes sense! t.co/qTtcQvJpCb
— QE Infinity (@StealthQE4) August 14, 2024
1) What's very interesting about these inventory trends is that they run counter the common narrative about where people are moving.
High level – you would think that the South should have lower inventory due to all the people moving there.
While the Northeast/Midwest should…
— Nick Gerli (@nickgerli1) August 13, 2024
3) So given this data we should probably start re-evaluating the common notion that the South is the best place for real estate investors.
And the best place for home builders.
To the contrary – it's the most heavily supplied region in America for housing.
— Nick Gerli (@nickgerli1) August 13, 2024
5) Smart money in real estate is not looking to buy housing in the South right now. There's too much downside, and the technical trends are pointing to that downside appearing imminently (if it hasn't already).
Rather – smart money started buying the Midwest 1-2 years ago.…
— Nick Gerli (@nickgerli1) August 13, 2024