Every year the National Low Income Housing Coalition puts out Out of Reach, and every year I look for one number, what does a full time worker need to earn to afford a modest two bedroom apartment. The 2026 report is out. The number is $34.73 an hour. The average...
I read a lot of headlines like that. I also read the actual data behind them, because that’s the job. And three years of regional business survey data just told a very different story than the one everyone’s sharing.Here’s what the feed isn’t...
Here’s the thing about this newsletter. We’re not selling a seminar. We’re not gatekeeping a strategy behind a paywall or a course fee. Every idea in here is the same thing we’re actually doing with our own capital, and we’re putting it...
I’ve spent more than 25 years building and financing housing, from Detroit in the early 90s to the mountain resort towns I work in today. In that time I’ve watched manufactured housing get treated like the ugly stepchild of the industry. Too often it got...
There is a comfortable story America tells itself about the 1970s and 1980s, that our factories left for China because of cheap labor and unfair trade. That’s part of it. But it leaves out the part we don’t like to admit, that we also pushed a lot of that...
If you follow the mainstream real estate narrative, you would think nobody wants to build apartments anymore.Interest rates are too high. Construction costs are too high. Banks aren’t lending. Insurance is expensive. Deals don’t pencil. Developers are sitting on their...
