The Economic Consequences Of De-Urbanization

(1) The roof is rockin’. (2) Housing boom offsetting lots of busts. (3) Existing home sales are hot, especially for homes with room for an office, and a swimming pool to boot. (4) Millennials are suddenly, finally buying homes en masse. (5) 32% rebound in Q3 real GDP? (6) Inventories of existing and new home sales are historically low. (7) Residential construction plus home improvements exceed nonresidential construction, as well as public construction. (8) Housing-related economic activity should more than offset weak recovery in pandemic-challenged industries. (9) A win-win for distressed home sellers and real estate investors.