What I’m Reading
Hitting the Wall: Trucking demand is “near freight recession levels,” according to Bank of America. Shippers’ outlook on rates, capacity and inventory levels are matching attitudes not seen since May and June 2020, when pandemic lockdowns sent freight volumes into a historic decline. Freight Waves
Halted: Ships continue to sit at anchor and containers continue to pile up as Shanghai’s COVID lockdown throws the global logistics chain further into disarray. Wall Street Journal
Tailwind: Demographics will be positive for US housing over the remainder of this decade. Calculated Risk Blog
Day of Reckoning: With property prices soaring, tax assessments should continue to as well, putting even more pressure on affordability. Housing Wire
Expect Turbulence: The lumber market has whipsawed all over the place. With so many extenuating factors at play, its difficult to get a read on where the market is heading. Globe Street
Chart of the Day
My favorite chart makes a comeback today. This is not an environment conducive to a housing crash.
Source: Calculated Risk Blog
WTF
Deep Analysis: A Utah college is offering a course that analyzes pornography. Fox 13
Hunger Strike: A mom threatened to blow up her son’s high school after claiming that the cafeteria wasn’t feeding him enough because Florida. NBC News
Basis Points – A candid look at the economy, real estate, and other things sometimes related.
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