Welcome all new subscribers to Alpha Letter. Every week I write about interesting opportunities in the public market. I focus on stocks off the beaten path. Broken businesses. Assets trading under liquidation value. Macroeconomics and where the economy is heading. I don’t like investing in large, popular companies and find a fascination with assets no one else is looking at.
I must try to unsub to this at least 3x a month.
Yet like everything else in the newer, gayer America, it seems to ignore objective events in favor of its own narrAtive
I agree with this sentiment, but I think there are two factors that might either alter or delay the results of your prediction. One: the real estate market operates more slowly than people generally think. It might take multiple years for the real estate market to catch up with its financial realities. And two: companies like BlackRock are buying up entire neighborhoods wholesale, in cash, and then turning around and renting them out to people for profit. Higher interest rates on homes and less individuals buying them means companies like BlackRock have free rein to buy all the houses they want and refusing to sell them, thereby keeping the prices higher due to a lower percentage of houses being available to buy at all.