Housing rebounds - time to call off the recession? Guest: Warren Pies
Macro Mondays
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The Resilience of the Housing Market
The divergence between soft days and hard data has just been mind-boggling to me. And it's a treacherous environment to be chartering. Warren: What do you think is really causing the resilience within the housing market of this juncture?Warren: We've underbuilt houses really since the GFC in the United States. There's a supply issue. Labor supply also is an issue. But at the same time, when you look at the demographics for the U.S., basically you have a huge bulge of millennials coming into this household formation age,. 35 to 44 over these next few years.
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