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KEY DISCUSSION TOPICS:
- Fundamental Deceleration: Volume growth is slowing in the new and existing market. Home prices, meanwhile, are in a bitter tug-of-war between lagged demand trends and supply constraints.
- Supply Side Economics: Supply has emerged as the big conundrum this cycle. Why is it so depressed and what is the outlook for it to change?
- Seasonality Headwinds: Housing stocks follow a distinct seasonal trading pattern that offers a lot of alpha opportunity; 2Q/3Q are the weakest six month stretch of the year.
- San Francisco: A bubble or not? That is the question. We’ll take a deep look at the SF market.
- Big City Affordability: One of the more interesting phenomenon is where major metros stand in terms of affordability and what the outlook is for further price appreciation.
- Commercial Real Estate: The CRE market has run into some big speedbumps. Will this bleed into the Residential market?
Joshua Steiner, CFA
Christian B. Drake