2021 HOUSING ISN'T OVER UNTIL WE SAY ITS OVER [IT'S OVER]

December 31, 2021

2021 HOUSING ISN’T OVER UNTIL WE SAY ITS OVER [IT’S OVER]

This movie came out the year I graduated high school and I hung a poster on my college dorm room wall freshman year of US Senator Blutarsky. Yes, I can spot genius from a mile away.

But I digress…

Despite The Doomsayers, NYC Housing Came Back, And Then Some

There is an epic New York Times Real Estate Cover Story out today: In 2021, New York’s Housing Market Made a Stunning Comeback that chronicles the clawback of residential rental and sales activity after the 2020 pandemic lockdown. But any hopes of greater affordability have been dashed.

There are a lot of interesting charts and factoids in the piece. Here’s my chart (of course):

Miami Herald: A Visualization Of The Collapse Of Champlain Towers In Surfside

Wow, this is a spectacular play-by-play of what led to the collapse. It is definitely worth your time:

HOUSE OF CARDS How decades of problems converged the night Champlain Towers fell [Miami Herald]


[click image to view]

The U.S. Labor Market Changed The Way We Think About Housing

Labor trends have been disrupted post-lockdown and it is beginning to look like those changes, like remote and workers tolerance for low pay, might be more permanent than we think. The Washington Post has a spectacular read: The most unusual job market in modern American history, explained: Quits, big raises and severe labor shortages: 10 charts on the completely surprising 2021 labor market.

Here are three of my favorite WaPo charts but there are a lot more in the piece.

Dark Houses Illustrated

I’m definitely not a fan of these homes but there is always a fresh coat of paint that can do wonders.

VisualCapitalist.com Global GDP 2021

Once again, VisualCapitalist provides a stunning infographic, this time on the world’s GDP by region and country. What’s most amazing to me is the GDP difference between Russia and the U.S. In fact, NYC’s GDP is larger than Russia’s!


[click image to expand]

Getting Graphic

My favorite charts of the week made by others

Len Kiefer‘s Chart Handiwork

Appraiserville

(For earlier appraisal industry commentary, visit my old clunky REIC site.)

To all my loyal Appraiserville readers:

It’s been a heck of a year covering key issues of our industry, like the PAVE task force, the bureaucratic and public trust damage cause by The Appraisal Foundation as evidenced by their bat-shit crazy letter to the ASC, the sham petition process instituted by the once-respected Appraisal Institute for the second straight year by FOJ sycophants and their cult members who don’t understand that the entire industry can see exactly what they are doing.

It’s also been a wonderful year to make new appraiser colleagues and friends, especially those that have worked hard to shine a light when it was desperately needed. I have seen this grassroots group grow and it has been an honor to be associated with each and every one. It gives me hope that from the growing grassroots support, our industry won’t become obsolete in the near future with its current lack of credible leadership.

ALL of our industry members need to look beyond the old hood ornament of years past and focus on the road many miles ahead. Happy New Year my friends.

OFT (One Final Thought)

What can I say, I like bikes!

Brilliant Idea #1

If you need something rock solid in your life (particularly on Friday afternoons) and someone forwarded this to you, or you think you already subscribed, sign up here for these weekly Housing Notes. And be sure to share with a friend or colleague if you enjoy them because:

– They’ll have more when we say they will;
– You’ll have more when you say you will;
– And I’ll focus on watching Animal House again.

Brilliant Idea #2

You’re obviously full of insights and ideas as a reader of Housing Notes. I appreciate every email I receive and it helps me craft the next week’s Housing Note.

See you next week.

Jonathan J. Miller, CRP, CRE, Member of RAC
President/CEO
Miller Samuel Inc.
Real Estate Appraisers & Consultants
Matrix Blog
@jonathanmiller

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