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Rick Palacios Jr. Profile picture
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12 Jan, 4 tweets, 1 min read
A few gems from today's Fed Beige Book on crazy tight job market. Employers pulling out all the stops, even "no-meeting Wednesdays" to attract people.
"Extreme new-worker turnover"
"literally begging for employees"
"employees getting unsolicited job offers"

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More from @RickPalaciosJr

Rick Palacios Jr. Profile picture
11 Jan
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
Rick Palacios Jr. Profile picture
13 Dec 21
We’ve been asking building product dealers about supply bottlenecks for several months. Seems like status quo holding for now (not getting better, but also not getting worse). Labor & logistics remain the biggest concerns, see survey commentary to follow…
“All beam products, glass faced gypsum products, windows, & interior trim products continue to tighten.”
“Lumber & engineered wood supply appears to be improving but steel supply remains a concern.”
Read 12 tweets
Rick Palacios Jr. Profile picture
2 Dec 21
Some interesting comments from today's Fed Beige Book on both housing (investors, lot shortages, market normalizing) & labor market tightness (namely continued wage spike).
#Atlanta Fed housing commentary on investors
#Atlanta Fed commentary on tight job market
Read 14 tweets
Rick Palacios Jr. Profile picture
29 Nov 21
Monthly pulse of resale housing market still rapid according to 4,500 agents we just surveyed. Top 3 themes: 1) Bit of market normalizing. 2) Skittish sellers fearing nowhere to move. 3) End of travel ban boosting international buyers. Commentary across the country to follow…
#Houston resale agent: “A lot of people are not listing because they don't know where they are going next. Seems that many people listed too high even for a sellers' market, so I am seeing more price reductions now than earlier in the year.”
#Orlando resale agent: “Our buyer pool is increasing. We see more buyers from the north connecting with us as they plan to visit the area from the fourth quarter to the first quarter of next year.”
Read 25 tweets
Rick Palacios Jr. Profile picture
16 Nov 21
Over the last few months I’ve spoken with dozens of real estate & mortgage industry executives, trying to gauge what impact (if any) #crypto is having on the #housing market. Here’s what I’ve concluded. (1/) realestateconsulting.com/bubblicious-cr…
The number of home buyers w/documented crypto accounts has risen from ~0% one year ago to between 5% & 10% today. Platforms such as @coinbase $COIN were noted most often in my conversations, with $BTC & $ETH common plays. (2/)
It's more difficult tracking the % of home buyers using crypto gains towards the down payment on a home purchase. Most mortgage lenders & home builders estimate ~5% or less. However...(3/)
Read 12 tweets
Rick Palacios Jr. Profile picture
10 Nov 21
Home prices still accelerating through October in majority of housing markets we track. Handful below finally moderating (#Austin, #Boise, #Phoenix, #Seattle, & #DC). Here's #Austin.
#Boise home prices
#Phoenix home prices
Read 5 tweets

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