Industry News: Presidential Debate, Impact of Lumber Prices, Remove Company Turnover Rates, and Increased Home Inventory Supply
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Episode Overview
This week, Ryan is joined by his regular co-host for industry news episodes, Charles Covey. Together, they dig into some topics in the land development and housing industry.
The episode begins with a discussion on the recent presidential debate. Ryan and Charles analyze the limited focus on housing issues during the debates and share their thoughts on President Biden’s statements about addressing housing costs in a potential second term. They explore the implications of proposed policies like rent controls and the overall lack of substantial housing solutions from both political camps.
Next, the conversation shifts to the fluctuating prices in the lumber market. Reflecting on the dramatic price changes from 2020 to 2021, Ryan and Charles discuss the current state of the market, the impact on housing costs, and the importance of letting the free market operate without excessive intervention. They consider the supply and demand dynamics and the potential for plant shutdowns if the market remains unstable.
The episode then explores the evolving landscape of remote work. Drawing insights from a recent CBRE report, Ryan and Charles examine the turnover rates in fully remote companies and the varying office policies among large organizations. They discuss the challenges and benefits of remote and hybrid work models, the future of office space demand, and the innovative approaches companies are taking to make office environments more appealing.
Finally, Ryan and Charles tackle the topic of high new home inventory levels. They break down the latest census data, which suggests that the market for single-family homes might be oversupplied. The hosts provide context by comparing new and existing home inventories and discuss the potential impacts on home building activities and prices.