Latest Blog: Fireside Reading - 12/15/2020
Investment Insights are written by Angeles' CIO Michael Rosen
Michael has more than 30 years experience as an institutional portfolio manager, investment strategist, trader and academic.
HOUSING HAS LEGSPublished: 05-24-2016
Surprisingly strong housing numbers out this morning: new single-family homes rose 16.6% in April to an annual pace of 616,000 (see chart below), well above expectations, and up 23.8% over the past year. Supply of new homes fell to just 4.7 months, all due to faster sales (inventories were flat). Sales are up strongly in the Northeast, solidly in the South and West, although down in the Midwest. The median ($321,100) and average ($379,800) prices jumped 9.7% and 13.5%, respectively, the last year.
There is more to come. The graph below shows the data from 1963. We may never reach the 2005 peak of 1.328 million (or, maybe we will), but housing will continue to strengthen because job growth and wages are rising, and home ownership is still low. Housing has legs.
Book Wrap 12-31-2018
Time for my semi-annual book perspective. I read a lot of books, but truthfully, most of them I move through pretty ...READ MORE
Picking Up the Pace 08-28-2015
Lost amidst the market turmoil this week were a number of reports of a strengthening US economy. Consumer confidence ...READ MORE
Ursa Minor 10-02-2015
The bears are stirring. Not yet rampaging, but there's a lot of red ink across most markets.Today's jobs report was ...READ MORE
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