Lead Story… It’s barely been a week since the NFL approved the Rams move to Inglewood and investor interest in local real estate is already spiking. LA area Realtors are seeing dollar signs as players, coaches, front office staff and all of the various other well-paid employees that it takes to run an NFL team descend on the city. See Also: Does living near an NFL stadium boost property values?
Recession: Bill McBride of Calculated Risk is sticking by his call that there won’t be a recession in 2016. He’s been as good as any at calling economic cycles and is absolutely worth following closely. But See: Ray Dalio of Bridgeport (the world’s largest hedge fund) says that the Fed’s next move is more likely a return to Quantitative Easing than further rate hikes.
Video of the Day: Fascinating summary on the impact of <$30 per barrel oil on the world economy. Less than 2 minutes and well worth your time.
In recent years, developers and builders (and cities) have mostly focused their efforts on single family homes and mid-rise or high rise buildings in most regions of the US. However, it wasn’t always this way and focusing on in-between product types dubbed “The Missing Middle” could be a key ingredient in bringing back the first-time buyer and others looking for more affordable housing.
Emerging from the Gutter: Downtown LA has been undergoing a renaissance for several years with developers constructing new projects and rehabbing old buildings. Right on cue, the NIMBYS are coming out of the woodwork. See Also: NIMBY’s and environmentalists are suing Riverside County over a general plan update that would pave the way for more growth.
Houston, We Have a Problem: Oil prices tripled from 2009 – 2014 and took the Houston housing market soaring with them as both starts and sales spiked. Now oil is in the midst of an epic crash and housing is following in Texas’s largest city as starts plunge and builders offer concessions.
A Tale of Two Countries: Five years into the recovery, job growth and housing prices are soaring on the coasts but not so much in the mid-west and the south. At the same time, entry level housing is hard to come by as developers continue to focus on high end units.
You’ll Never Guess What Happens Next: Those super annoying viral click-bait sites that clog up your Facebook feed appear to be going the way of the dodo. Let me be the first to say good riddance.
Masters of the Universe: Amazon, Apple, Alphabet (Google), Facebook and Microsoft are poised to dominate digital life for the foreseeable future.
Endorsement King: Sunday will be the 17th (and possibly final) battle between Tom Brady and Peyton Manning. Brady holds a decided edge over his career, winning 11 and only losing 5 to his arch rival. However, Manning still tops Brady in one important area: endorsements.
Chart of the Day
Low Starts = High Housing Costs as a Percentage of Income
I Wonder if She Dates Much: Meet the real life cat lady who lives with 1,100 cats. I’m sure that her neighbors love her.
Congratulations America: We are now fat enough that McDonalds is considering offering french fries drizzled in chocolate.
Ill-Informed: Ten percent of American college graduates think that Judge Judy is a member of the Supreme Court because, apparently 10% of American college grads are idiots.
Raising a Nation of Wimps: High school authorities in Wisconsin have banned chants like “Airball,” “Scoreboard,” and “Overrated” at sporting events to keep athletes from getting their feelings hurt. Apparently, American high school students have become just as wimpy as our college students. Shocking.
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