Housing supply is currently at its lowest level since the 1970s.
Goldman Sachs said the shortage could last for years due to millennial homebuying and fewer starts.
There also won t be enough foreclosures to make a meaningful impact on the market, the bank says.
Supply for homes can t keep up with demand. At a point when the country badly needs more houses, housing starts fell 9.5% in April, and Goldman Sachs doesn t see the cavalry arriving soon.
A May 2 note from Goldman s Ronnie Walker found that new home sales and housing starts have reached their highest levels since 2006, and housing supply is at its lowest level since the 1970s. But as demand remains high, little is being done and can be done to fix the low supply. The resulting picture is one of a persistent supply-demand imbalance in the years ahead, the note said.
And while JPM has long been in the transitory bandwagon, the bank s strategist Andrew Tyler admits that in a crack to the party line, his view is that we’ll see inflation expectations continue to move higher over the summer, as we see improving macro data (NFP, CPI, PPI, and Retail Sales the most topical).
To help investors formulate their own inflation expectations - especially amid rising strains on the global supply chain created by COVID - he presents out the following charts:
LAD vs. KMX vs. IYT vs. SPX
ISM vs. CPI vs. PPI
ISM vs. 5Y BREAKEVENS vs. 5Y5Y INFLATION SWAPS
Can Virginia finally gets its ground game going in 2021?
Published Friday, Apr. 30, 2021, 1:55 pm
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Wayne Taulapapa celebrates with teammates after a fourth quarter touchdown. Photo courtesy Atlantic Coast Conference.
Bronco Mendenhall thinks this is the year that Virginia finally gets a strong ground game, with a backfield that he feels is the most talented he has had in his six years in Charlottesville.
The guy who has impressed the most in the offseason and through spring practice is junior Wayne Taulapapa, who led the tailbacks in 2020 with a modest 388 rushing yards and five TDs.
April 20
Police conducted a welfare check in the 700 block of East Walnut at 10:28 p.m.
Police conducted a traffic stop in the 200 block of West Hickory at 10:42 p.m. Cited was Ronnie Walker, 62, Watseka, for no valid driverâs license. He posted bond and was released.
April 21
Police responded to a call about trespassers in the 200 block of North Fourth Street at 12:33 a.m.
Police responded to a call about a domestic dispute in the 1700 block of East Walnut at 10:48 a.m.
Police responded to a call about a drug overdose in the 800 block of East Walnut at 11 a.m.