INSIGHTS
Wind in the Willows
Labor Unions and Inflation: Playing to the Tide
If you’re wondering why it is that inflation continues to be so persistent, you’re not alone.
Mortgage Rates And a Little Sympathy
The current average rate on a 30-year mortgage is 7.48%. That number is the highest it’s been since November of 2000.
California’s Self-Inflicted Wounds
Last month Los Angeles’ so called Mansion Tax went into effect. This tax, supported by 57% of voters was intended to help the city’s problem with homelessness. Instead, this tax is likely to crush sales of properties worth over $5M, and devastate transactions in properties over $10M. While this transfer of wealth is called the Mansion Tax, the name is a complete misstatement of what the tax actually is.
Worker Migration Makes Inflation Contagious
Worker migration. Workers move for a lot of different reasons. Some are looking for a better paying job, others are looking for more affordable housing
Rise of the Millionaire Renter
Most people, when they think back to the Great Financial Crisis, they think of excess. Excesses in leverage, lackadaisical analysis of credit and a glut of housing. And yes, that was what led to the financial crisis, but in the wake of the FC, a fascinating thing occurred. Banks worked hard to fix their loan books, home builders slowed their activity and investors nearly forgot single family housing. For good reason too.