Author: josh
In This Article Let’s get something straight from the start: America doesn’t have a housing “problem.” That makes it sound like a small leak under the sink. Rather, what we’ve got is a housing disaster—the kind of thing you don’t just patch with duct tape. We’re short somewhere around 5 million to 6 million homes right now, and if you’re apt to believe the economists at Morgan Stanley and J.P. Morgan, that gap isn’t closing anytime soon. In fact, if we keep building at our current rate (which is laughably slow, given demand), we’ll be staring down the barrel of…
Are you worried that real estate investors are skewing the housing market? In this episode of On the Market, host Dave Meyer and guest expert Rick Sharga dive into the complexities behind investor activities in the housing realm. Discover how investor behavior has shaped the current market landscape, influencing housing prices and inventory. Contrary to some beliefs, small investors play a critical role by fueling market liquidity rather than causing housing prices to spike. Listen in as they unravel how mortgage rates, housing market forecasts, and affordability trends will unfold over the next couple of years. As we tread through…
“American exceptionalism” has meant different things at different points in time. At heart, the belief that there’s something distinct and unique about America goes back hundreds of years, arguably to the Puritans of the Massachusetts colony who believed their “city upon a hill” was a kind of model society for the world. This concept was revived throughout the years, notably by President Ronald Reagan in the 1980s as he, along with Margaret Thatcher, advanced a distinctive version of “free market capitalism.” The remarkable performance of U.S. stock markets coming out of the pandemic has been a striking example where America…
President Donald Trump’s trade deals are illegal, Piper Sandler flatly declares in a new research note. The investment bank analyzed ongoing court battles and legislative authority, and concluded that Trump’s reliance on the International Emergency Economic Powers Act (IEEPA) to impose wide-ranging tariffs and cut bilateral deals far exceeds the powers granted by Congress. It’s not a new opinion from Piper, necessarily—the bank laid out its reasoning in April, shortly after Trump’s “Liberation Day” announcement of universal tariffs under the IEEPA. Then, as now, it sees a 9–0 ruling in the Supreme Court against Trump as more likely than a…