New Deals
I have bids accepted on 3 non-performing CFD’s. These assets are located in: Dayton OH, Lima OH, and Jackson MS. I’m still in the process of pulling BPOs and going through the final diligence, but so far things are looking good. I’ll send a note to the preferred investor email list in a few days. If you would like to see the details on these deals, you can sign up for the preferred investor email list by dropping me an email at dan@fusionnotes.com
New Housing Starts
One of my favorite economics blogs that I have been following for about 9 years now is the Calculated Risk blog. It provides a lot of great charts showing trends in economic data over time. Other news sources will sometimes run stories about how some economic metric that has recently been reported is either up or down. But a single data point is meaningless unless put into context with long term trends.
On Calculated Risk I recently came across a chart showing new housing starts:
You can see from the chart how new housing starts for one unit structures are up about 100% from the depths of the great recession. But they are still way below the levels of housing starts back in the 1970’s. I think this partly explains why housing values continue to rise. Given the level of population growth, it seems like we need to be building new housing much faster than we are now.
The total starts are also well below the previous peaks in other cycles. This leads me to believe that there is still room to go in the current up cycle of the market. Of course no one can actually predict the future when it comes to the economy, least of all me. But I try to pay attention to some of these trends to get a sense of what might be coming down the road. |
