Latest Blog: Fireside Reading - 03/30/2023
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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.
Fireside Reading 02-08-2022
It's beach weather in LA this week, but in deference to the rest of the country, we'll stay with Fireside Reading. Three ...READ BLOG POST
Too Many Words 12-22-2014
Among monetary economists, there is a raging debate over the merits of the Fed's burgeoning balance sheet. Back in ...READ BLOG POST
Beach Reading 07-29-2021
A few more outstanding books for your summer reading...Black Buck, Mateo AskaripourThis is an exceptional debut novel ...READ BLOG POST
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