Latest Blog: Stop the Game! - 01/31/2021
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.
What I Learned While Atoning 10-17-2016
Twenty-four hours without food or drink is supposed to help focus the mind on the task at hand: atoning for the sins of ...READ MORE
Beach Reading 08-11-2020
One of the upsides to confinement over the past few months is that I've been able to raise my reading capacity. Here ...READ MORE
Commodity prices are in free fall. The Bloomberg Commodity Price Index (5-year chart below) is off about 30% in the last ...READ MORE
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