Uncategorized June 30, 2023

Monday Morning Coffee 7.3.23

Housing Starts shot up almost 22% in May, the biggest monthly gain since 2016 and 5.7% ahead of a year ago. Builders have lots of projects in the pipeline, so building permits rose a less dramatic 5.2% for the month.

The NAHB builder sentiment index hit 55 in June, signaling most builders see conditions as good. Small wonder. The NAR reports “newly constructed homes are selling at a pace reminiscent of pre-pandemic times.”

Even Existing Home Sales gained in May, up 0.2%, and, good news for buyers, the median price was down 3.1%. But prices shouldn’t crater, as there’s only 3 months of inventory, versus 5 months in a normal market.

“America is another name for opportunity. Our whole history appears like a last effort of divine providence on behalf of the human race.” — Ralph Waldo Emerson

“It was at Valley Forge, almost 250 years ago, that the people of the United States proved that they had the courage to be a nation. Valley Forge is known as one of America’s finest hours, but the only battle ever fought there was the battle of hunger and cold and despair.

You see the plains of Valley Forge and Pennsylvania were the last citadels of a dissipated American army. After two disastrous defeats at the hands of the British, General George Washington had led his discouraged troops in retreat to Valley Forge for the winter.

The winds blew across the plains, and temperatures dropped far below zero in one of the worst winters in history. The General himself wrote “There are men in the camp unfit for duty, because they are barefoot and naked.”

The soldiers lived in small huts built of logs and clay. Many sat up all night by the fire because there were not enough blankets. There was near famine in the camp; men went for weeks without meat. But Washington provided strict discipline for strength, and his wife Martha tempered it with tenderness as she moved among the men daily, praying for them.

When spring arrived they took count. One third of the army had died and another third of the army had quit and gone home. The remaining third simply marched out and won the Revolutionary War.

The United States of America was born.

“Happy Independence Day! I hope you enjoy it and appreciate the country you are fortunate to live in.”

Cindy Glynn
Coldwell Banker American Home