Friends of ResiShares -
Welcome to April. This first week of the second quarter is always good for interesting news, and the housing markets this year provide no exception to this rule.
It seems like the single family housing market is so hot right now that all sorts of non-traditional players are entering the space. While the recent entrance of the major home builders was perhaps a natural evolution, the JLL partnership with Roofstock surprised many.
Well now here’s Tesla, of all companies, throwing their hat in the ring in the fine print of their quarterly deliveries report.
If that story is not evidence enough of Silicon Valley’s newfound obsession with this asset class, here’s a group of very big bettors making a very big bet on the rust belt resurgence and the conversion of the US into a rentership society.
Personally, buying an entire city’s housing stock strikes me as a bit of a publicity stunt, but with the creative interpretation of private property rights in their home area, I suppose one can understand their investment thesis.
Our house view at ResiShares is that the largest private-sector opportunity in service of resolving our national housing shortage is in construction technology. I’m not sure if this one will work, but they say there are no bad ideas in a brainstorm.
The Rest of Resi
Gene Simmons wants to Rock and Roll All Night, and Pay Fewer Taxes Every Day.
Manhattan real estate has started to find its clearing price.
FHFA aims to restrict GSE loans to finance vacation properties. The vacation home market is going to be fascinating over the next few years. Between natural burnout and restrictions on mortgage financing, the purchasing headwinds will be running right into a vacation rental demand tailwind. It will be worth watching which one wins.
