‘The Accidental Economist’ with Jack Kern: Why Frozen New Home Sales are Good for Builders and the Apartment Industry.
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While the housing market is going through a painful transition right now, what lies on the other side of that transition is a more balanced, sensible market overall.
Albert Einstein is quoted as saying, “In the middle of every difficulty lies opportunity.” We are at a point in the economic cycle where it’s logical that new home sales would still be struggling. For a lot of reasons, I’m actually happy about this. To me, markets have to proceed in an orderly fashion and today’s news that new home sales are essentially at the same point they’ve been since the middle of last year is a good sign.
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