I have spent more than 25 years building, lending, and investing across housing markets from the Mountain West to Texas to Vermont, and I can tell you the most expensive phrase in this business right now is “when rates come down.”It is being written into pro formas....
I’ve spent more than 25 years building, lending, and investing across housing markets, and one lesson keeps repeating itself: supply decisions made today show up in fundamentals two to three years from now. Right now, the for-sale housing machine is quietly...
Everyone is celebrating the wrong number. Yes, New York built 38,682 apartments in 2025, its strongest year since 1965. But a record year that covers less than 10 percent of a 400,000-home shortfall is not a victory. It is a measurement of how deep the hole really...
Nashville. Atlanta. Charlotte. Raleigh. These markets spent a decade being marketed as the escape hatch from high-cost coastal cities. Lower taxes, cheaper land, room to grow. And for a while, that story was true. Read more
The Wall Street Journal ran a headline last week that stopped me mid-scroll: “Chicago Missed the Tech Boom. Quantum Computing Gives It a Second Chance.” Read more
When you get 89 U.S. Senators to agree on anything, it’s worth paying attention. Last week, the Senate passed the 21st Century ROAD to Housing Act, a 303-page, 40-plus provision bill co-authored by Elizabeth Warren and Tim Scott — about as bipartisan a duo as...
