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-- What we're gonna switch gears right now to another important story we're following for you today the Fed's bond buying program having a positive impact.
On housing new home construction for -- rebounding today.
Up nearly 7% from the month April led largely by a jump in multifamily units up over 21 per -- The -- dollar price Waterhouse -- -- a new housing bubble is inevitable.
He joins me now and trying to get like a bearable feeling you today image and we know each other while but and you're saying at this bubble is inevitable.
But is that a negative in your -- I don't think so I think there's still people in this country who want to buy homes they are watching the news seeing their prices are going out seeing that they're not falling and saying -- this my opportunity to buy.
I think the interest -- story of late has chilled the market a little bit but it's not reflected in the houses are now we -- We are seeing mortgage rates took a little bit about a -- the week it week after week after week one of the big market stories we had yesterday in his -- -- is a nice piece today that.
Was humbled -- confidence right but you're saying if there's labor and material cost issues -- with those same builders and that's a problem.
I think it's more labor the material costs I think that finding qualified labor.
Is a challenge for them all of the people that were employed -- freed crash error -- construction workers that every purpose of doing something else right so they're doing something else.
And homebuilders are very concerned about their brand and the quality of the brands are just pulling in random people to help build isn't something that's.
Homes up 21%.
Month over month CNET and -- -- -- in your -- that does not that's not single family homes that's not apartment on pop that's apartment compartments.
The department so the economy is not what what they can -- basic.
Now would be in that apartment story is people moving out of their their parents' -- and moving into apartments.
Stepping into that.
Living independently life home buyers that her opting to rent vs buy people sold their homes and said you know something I want it more space -- that.
Vacancy level of apartments is less than 5% -- baton forever.
And that is that actually isn't decision and it was the 34 market survey but you also look at regions I wanna get this has the south.
-- led the way up 17% was on the commercial real estate side of the residential commercial rules and so the said that Florida's back.
-- -- -- -- -- -- And forever in apartments and hotels and in warehouses in retail so we're real states backed the demand is there.
And vision thing is while interest rates are growing and that could theoretically Chile investor market.
-- interest rates going up because the Fed decides you know taper orange reversed course is because the economy strong and the economy -- -- great -- You know demand for promotional so you're saying is strong it seems to me that's an alternative investment I know that's come out here will house a little bit but we keep asking the question here.
Where's all that cash from the -- going.
It might have wanted to commercial requesting it.
-- points or commercials -- just in and it's important and then strongly enough it's not just the big cities anymore.
It's across America.
Our industry are gonna come back this Jamal's gonna come back that senior housing complex is gonna come back the it's not just departments of the the small suburban office buildings in and tells us why -- -- hotels or our rev par -- agencies -- -- forecast for the rest of the year's revenue -- -- -- revenue per available room five point 9% for this -- six point 2% for next year.
So show me a an asset class that it is projecting.
Top line revenue growth we were showing some recent show a lot of our viewers are very -- -- as investments an extra -- always gonna say thank -- -- -- data from the if they can't.
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