Bravo for digging into rents. IMO ppl have been way too dogmatic about it "lagging" and will decline.
Another fly in the ointment. 80+% of recent apt builds were "luxury", mid grade apt rents still zooming.
I forget which Fed president said it, but basically as long as companies remain willing to plan to raise their prices inflation is a problem. So far he's right. And idk how that ends without a real drop in demand.
Bravo for digging into rents. IMO ppl have been way too dogmatic about it "lagging" and will decline.
Another fly in the ointment. 80+% of recent apt builds were "luxury", mid grade apt rents still zooming.
I forget which Fed president said it, but basically as long as companies remain willing to plan to raise their prices inflation is a problem. So far he's right. And idk how that ends without a real drop in demand.
Thank you for publishing your thoughts and ideas!
I liked the long book addition. It provides a nice high level view for those interested in mostly market beta with some thoughts on risk.