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Toll Brothers Inc. Message Board

  • sage2123 sage2123 May 30, 2014 1:23 PM Flag

    Household Formation At 30 Year Lows

    How can this possibly be....I mean the population is growing and everything?

    In fact, according to Census Bureau data, in Q1 the number of households formed each month was 189,000, down from 1,563,000 in 2013.

    The recent run-up in housing prices is a factor of three things....all of which I've commented on this board on.

    i) offshore oligarchs parking laundered "all-cash" money in luxury US real estate: a process that is slowly ending, ii) Wall Street firms using cheap REO-to-Rent credit to bid up distressed properties and flip them as rentals: a process that is virtually over and iii) banks hoarding foreclosed properties on their balance sheet to avoid an avalanche of supply which would crush prices.

    Sentiment: Sell

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