Discover and read the best of Twitter Threads about #Charlotte

Most recents (24)

August home builder sentiment and sales/prices/starts survey results are in. Top themes: 1) Home price cuts along with other incentives are helping sales (for now). 2) Supply chain is healing as demand drops and builders quickly slow housing starts. Market commentary to follow…
#Austin builder: “A lot of spec inventory to work through. August was a very poor month for sales across the board. Cancellations spiked from July and buyers showed no sense of urgency.”
#Baltimore builder: “Jumbo loan rates below 5% are helping buyers move forward in that segment.”
Read 22 tweets
Home price trends across 20 top housing markets. Pace of price increases moderating (left chart), which you can see in our underlying home price index flattening out or actually falling in a few markets (right chart). Start it off with #Atlanta.
#Austin home prices
#Boise home prices
Read 20 tweets
Results from our survey of #FixAndFlip investors are in. The fix-and-flip market is clearly cracking: higher rates have shrunk the # of buyers + the # feasible deals. Buyers are also cautious about overpaying given falling prices (cutting into flipper margins).

COMMENTARY🧵->
#Atlanta flipper: “Much higher risk environment due to rising rates. Sellers still have not reset expectations from earlier this year, so acquisitions have essentially come to a halt.” (2/19)
#Baltimore flipper: “The market for fix and flip has turned. It is now a buyer's market and there are a lot of investors competing for the same property. I have put in several offers on a few properties that have good potential but have not been able to get the contract.” (3/19)
Read 19 tweets
June home builder sentiment and survey results are in. Top themes: 1) A lot more new home buyers cancelling. 2) Price cuts becoming fairly common. 3) Drop in demand finally cooling construction cost pressures (builder layoffs also happening). Market commentary to follow…
#Atlanta builder: “Someone turned out the lights on our sales in June!”
#Austin builder: “Sales have fallen off a cliff. We’re selling 1/3 of what we sold in March and April. Trades are more willing to negotiate pricing since market has adjusted significantly past 60 days.”
Read 22 tweets
May homebuilder survey results published last week. Top themes: 1) Builder metrics quickly deteriorating across the board. 2) Price cuts on standing ‘speculative’ inventory accelerating. 3) Buyer incentives are back. Market commentary to follow…
#Austin builder: “Some parts of town where finished homes are now taking a month to sell versus hours. Market is definitely correcting. Incentives are back and seeing some builders cutting prices on inventory.”
#Baltimore builder: “Customers now mentioning potential reduction in prices and/or increase in incentives.”
Read 23 tweets
Homebuilder survey results are in for February. Top themes: 1) Record high new home price increases at +20% YOY nationally. 2) Record low builder finished inventory. 3) Demand still off the charts & quality of home buyer prospect lists still solid. Market commentary to follow…
#Charlotte builder: “Restricting sales in all communities. Several communities with VIP lists over 1,000 and one of those communities only has 51 homes. Increasing mortgage rates haven’t slowed buyers down at all.”
#Charlotte builder: “HELP WANTED signs have driven direct construction costs up +20%. Keeping your employees from jumping ship to work for another builder costs 25% more.”
Read 21 tweets
Home builder survey results are in for full month of December. Top themes: 1) Still a ton of demand for new homes. 2) Rampant construction material & labor shortages. 3) Bit of chatter on possible margin compression several quarters ahead. Market commentary to follow…
#Atlanta builder: “Have virtually no available inventory & huge backlog of 1,000+ units going in to 2022. Still metering sales in most communities, where the demand of waiting buyers still outnumbers our supply.”
#LasVegas builder: “Busiest orders for December I can remember in a long time.”
Read 27 tweets
I had a great conversation today with @moseskagan and got inspired to introduce myself. A 🧵 about me:

I’m the “placemaker in chief” of @CampNorthEnd, a 76-acre site, 1 mile from #Charlotte’s CBD. (1/12)

camp.nc
We are building a place through the adaptive reuse of some amazing, giant industrial buildings, one a 1924 Ford factory designed by Albert Kahn and five built by the US Army in 1940/41. (2/12)
(And yes, the US Army built 1msf of warehouse buildings in less than two years. There is something to calling them the #GreatestGeneration.)
Read 13 tweets
Fresh October home builder survey results. Top themes: 1) Builders are finally lifting sales caps (though not all). 2) Lack of lots & land development delays will hold back growth in 2022. 3) Most builders expect prices to keep rising. Market commentary to follow…
#ColoradoSprings builder: “One cautious trend to watch is single-family rental businesses paying more for land than builders. This will suck up trade capacity & supply at a time we can't afford it.”
#Denver builder: “Traffic & sales definitely slowing down, but also following a more seasonal pattern as compared to 2020. Resale inventory is still historically low. Rents are skyrocketing again.”
Read 25 tweets
Just published September home builder survey results (sales, prices, costs, communities, etc.). Big themes: 1) Supply chain, supply chain, supply chain. 2) Monthly price hikes no longer the norm. 3) Some of the hottest markets sounding toppy. Market commentary to follow…
#Austin builder: “No end in sight for labor & material issues. Told by logistics guy last week that his company believes it will take at least a year to get the supply chain back to working.”
#Austin builder: “Availability of windows has limited closings this year & availability of appliances has caused closings to slide to a later month. Availability of paint is stressing Q4 closings & causing even more bunching toward late in the year.”
Read 36 tweets
Just surveyed 6,000+ real estate agents across country. Top themes from our 1st ever RESALE agent survey: 1) Buyer fatigue, w/rumblings of remorse. 2) Bidding wars a bit less bonkers. 3) Cash is King & ton of investors. 4) Inventory gridlock. Commentary across country to follow…
#LosAngeles agent: “20-minute allotted home viewing time slots with offers due next day by noon, & buyers are asked to give up every contingency under the sun.”
#NYC agent: “Luxury home buyers feel the market is overpriced & have backed off.”
Read 24 tweets
Analyzing July new home trends from our just published monthly builder survey. Top 3 themes: 1) Frenzy phase for housing is over, but still solid demand. 2) Fewer builders restricting sales. 3) Hitting price ceilings in more markets. Commentary from across the country to follow.
#Austin builder: “Builders are starting to offer incentives again to drive traffic and sales.”
#Dallas builder: “We have hit price ceilings in the majority of our submarkets.”
Read 21 tweets
Analyzing June new home sales & pricing figures from our monthly builder survey. As one builder noted: “It’s not fun to be a builder anymore.” Lumber relief is nice but pick your poison on other issues. Market commentary from across the country to follow...
#Richmond builder: “It's not fun to be a builder anymore. Cost pressure is killing us. Not only will builders like myself who take 12-24 months to build a house lose margin from increases, but the affordability is becoming a major issue.”
#Atlanta builder: “Costs have driven up prices & we’re no longer preselling. We will not sell a home until frame stage, so our sales numbers are off for June while awaiting framing stage.”
Read 26 tweets
Here's a housing🧵to chew on over weekend. Mid-June update from 100+home builders across country. 1) rumblings of price ceiling. 2) slightly shrinking pool of qualified buyers. 3) some home releases not selling out immediately. 4) normal summer slowing as vacations take priority.
#Austin builder: “Some interest lists are shrinking & others are not. Seeing buyers who are no longer able or willing to afford the monthly payment. Definitely seeing attrition here. Frustration that prices continued going up without an opportunity to purchase.”
#Dallas builder: “Interest lists are definitely shrinking because of pricing. Some drop off is happening due to price. But the re-sale market is still so tight it hasn’t dropped substantially. Extremely concerned about pricing going forward.”
Read 31 tweets
New home sales fell in May, Y/Y & M/M. Theme of the month was sales decline by builder design. Few comments on demand slowing or skittish buyers, even w/new home prices +18% Y/Y nationally (survey record). Builder commentary from across the country per our survey to follow...
#Nashville builder: “Gapped out. Sales resume in June as new communities & phases start to open. By moving ability to contract on inventory homes later to finished drywall stage (window installation stage previously), expect sales to show continued decline. Decline by design.”
#Charlotte builder: “Paused sales from mid-May to mid-June in all communities & will selectively release homes for sale in the last 2 weeks of June & coming months. Sales look lower vs. last month but was capped due to limited lot availability & no inventory.”
Read 28 tweets
Multiple North Carolina city elections may be delayed until 2022 because delayed census results don’t leave enough time to adjust city council & other municipal voting districts to reflect population changes.

1/ #NCPol
Voting districts for state, county, and city elections are redrawn using census results to ensure that voting districts are roughly equal in population.

Congressional districts will also be redrawn as part of reapportionment & adjusting for population changes.

2/
North Carolina cities that may have city elections postponed to 2022 because US Census results have been delayed include: #Raleigh #Cary #Charlotte #ElizabethCity #Fayetteville #Greensboro #Greenville

See: canons.sog.unc.edu
3/
Read 4 tweets
Here's May mid-month home builder channel check I hinted at earlier. Builders are pushing prices w/little pushback, though some starting. Some builders are using price escalators & highest/best offer. Many limiting pre-sales, shifting to spec, & pricing home later in build cycle.
#Dallas builder: “Not selling build jobs in May, starting specs only, and not selling until drywall. Costs are too out of control for us to take the inflation risk on build jobs. So sales are way down.”
#SanAntonio builder: “Only selling specs at Sheetrock stage. Last month, it was frame stage.”
Read 28 tweets
RIGHT NOW: Join us live as @CMPD provides an update on its latest operation on aggressive driving enforcement. #cltnews #cltcrime #CMPD

fb.watch/5jSyU0cu-O/
THREAD: After a series of complaints over aggressive driving and street racing, CMPD began an aggressive driving operation that led to more than 50 cars being seized. [A few pictured below]
CMPD identified several individuals who gathered in various locations around #Charlotte and engaged in dangerous, high-speed street races.
Read 12 tweets
Some interesting housing color from mid-April around the country home builder channel check. Bunch of market commentary to follow...will try to hit most top markets.
#SaltLakeCity home builder mid-April color: “Still have 10x buyers to available homes to buy. Went to 'highest/ best' offer system March 1st & offers over asking price are shocking. Most offers are 10+% over ask, that's after raised base prices $10K to $20K+ with each release.”
#Austin home builder mid-April color: “Super high demand. Volume controlled with release process, otherwise would be unbearable. Some price increases are $100K between releases.”
Read 28 tweets
NC legislature looks to rein in Governor's near-limitless emergency power.
I guess we'll see who's "protecting democracy"...

LISTEN for FREE: omny.fm/shows/the-pete…
#NCpol #NCGA #NC #WNCnews #Asheville #Charlotte #Durham #Raleigh #Greensboro #Wilmington #AVL #AVLnews
I guess I'll start the list here.

First entry is DemocracyNC...

#NCpol #NCGA #HB264 Image
Second & third entry is ProgressNC and Coalition for Health Care of NC...

#NCpol #NCGA #HB264 Image
Read 5 tweets
A thread of coronavirus references that can be found in entertainment media prior to the "outbreak" of 2019.
A masked Roman charioteer by the name of "Coronavirus" and his co-driver "Bacillus" compete in a chariot race across Italy in the 2017(!) published book "Asterix and the Chariot Race". Remember, Italy was the first country to enforce a national lockdown after the outbreak. Image
"2020 combined with coronavirus, bodies stacking" Lyrics from the 2013 (!) song "Pandemic" by Dr Creep and produced by Blaq Masq, from the album "I Am The Storm".

Read 46 tweets
No place that made me exists anymore. #charlotte
White people have completely, totally taken over black Beatties Ford Rd. But I guess they have BLM signs so it’s even.
How HBCU Johnson C Smith will thrive in a now white neighborhood remains to be seen
Read 3 tweets
It’s Friday, time to talk about Operation Save America’s fallen angel: Flip Benham! #OSAunmasked #AbortionIsEssential #HumanGarbage Image
You might know Flip from his greatest hits like: standing in front of abortion clinics in this Zorro mask, because decency is a joke to him or getting arrested for threatening people and pretending it’s a free speech thing. #Charlotte #OSAunmasked charlotteobserver.com/news/local/art… Image
Flip got some of the attention he craves this year when the #AKAJaneRoe documentary exposed that the anti-abortion a-holes, Flip included, had paid Norma McCorvey to lie about her “conversion” to the anti-abortion side. He showed no remorse. #OSAunmasked thedailybeast.com/jane-roe-confe…
Read 7 tweets
So, I am watching the @CLTCityCouncil Safe Communities Committee meeting (Stuff about Police) and I have some thoughts. CC: @BraxtonWinston @cltuprising @queencitynerve
First off, committee chair, @Larken makes clear he is not prioritizing real oversight of @CMPD
Council member Renee’ Johnson has now asked twice for review of @CMPD political policing and violence against peaceful protestors to be be prioritized and @Larken has pushed her off, in favor of garbage like the non-reform 8 can’t wait garbage.
Frederico Rios is presenting on community feedback event. He said first priority is “prevention of crime”. Police DO NOT prevent crime. They never have, they never will. They do a generally poor job of “solving” serious crime. CC: @kristie_1979 @avitale @SAFEcoalitionNC
Read 43 tweets

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