California’s AI windfall is showing up in two very visible places for residents: the housing market and the state’s balance sheet.On the surface, that sounds like a win. AI-fueled gains have kept capital flowing through the tech sector, propping up high-end housing...
Every January I do this exercise, I stare into the crystal ball and try to make sense of where the currents are actually flowing, not where people say they’re flowing. 2026 feels different. Heavier. More unstable. More consequential.Here’s what I see coming over the...
I don’t start a new year looking for fireworks. I look for signals. Capital moves early, sentiment follows, and real estate — especially on the development side — rewards those who read the cycle clearly and position ahead of consensus.This Substack is...
As 2025 draws to a close, it is worth stepping back from the daily noise and assessing the first year of Trump’s second term with some distance. This is precisely why I value taking a big-picture view. When you step away from the headlines and distractions, patterns...
Why the Tariff Debate Got the Economy WrongPredictions ranged from economic collapse to a manufacturing boom. The reality landed somewhere far more instructive.For years, tariffs have been treated as an economic litmus test. Either they were going to cripple growth,...
The construction industry is heading into 2026 with more volatility, more constraints, and more structural pressure than most analysts care to admit. JLL’s latest outlook, combined with fresh data from ConstructConnect and Dodge, paints a picture that every developer,...
