Report
Multi-Family Tilt No Threat to Housing Sector or Economy
posted by Michael Lewis on May 20, 2014
Found in US, categorized in Growth Outlook and Business Cycle
Report Cover
Headline
After Housing Bust, Rentals Predominate, But Single-Family Units Will Pick Up Gradually
Abstract
After the harsh winter, the housing sector has had a sluggish recovery. Housing starts did finally increase nicely in April. Yet some analysts scoff, noting that the recent starts gains have been driven by multi-family projects, almost all rentals, not more economically desirable owner-occupied single-family homes. In essence, they are repeating the “McJobs” argument that we lost high-paying quality jobs in the recession and gained predominately low-paying ones in the recovery. That mantra has cropped up in every cycle for five decades, and it has been wrong every time. It is wrong for housing this time too.
About Michael Lewis
Mike Lewis founded Free Market Inc. (FMI) in 1982 as a full-service economic consulting firm, providing insights and in-depth data analysis primarily for institutional money managers and corporate planning directors.
FMI has compiled a solid record of timely, independent and accurate economic forecasts. FMI blends its unique analysis of indicators and experience with economic cycles into a consistent overall outlook. They offer both a comprehensive overview and in-depth detail that enable clients to integrate FMI’s insights into their decision-making process.
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