THE LOCATION STRATEGY TOP 10 CHARTBOOK



A QUICK REVIEW OF MARKET CONDITIONS FOR HOUSING.


How will the latest banking stress impact GDP growth?

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Price declines across the US are asymmetrical; they are falling in the West but still rising in the East. But prices aren't really rising - just not falling as quickly in the eastern half of the country. All 20 markets measured by Case-Shiller show significant declines post-COVID. (Houston is not included in Case-Shiller).

Growth in household debt balances across all age cohorts last year was faster compared to pre-pandemic levels.

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Real estate loan-to-value ratios (a measure of leverage) have significantly declined over the past decade. Low LTVs could cushioned the blow if banks struggle with real estate assets.

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Credit scores for residential mortgages have improved considerably since pre-financial crisis levels.

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Big cities lost fewer residents last year as more immigrants moved in, fewer people died and more babies were born there, according to new census data that show the urban exodus that gained steam early in the pandemic is cooling. But what really happened is people moved from NYC, LA and Chicago to Houston, Dallas, etc.

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Housing inflation is yet to peak, according to Goldman.

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Demographics are a strong tailwind for housing, but affordability will remain a headwind for the housing market for some time. This chart shows home prices and wages.

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Here is a look at apartment and office rent growth, by city.

(2 charts)

Spending the tax refund:

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Scott Davis

LOCATION STRATEGY, LLC

1302 Waugh Drive #178

Houston, Texas 77019

832.304.DIRT (3478)

www.locationstrategyllc.com