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Jay Parsons @jayparsons

Supply continues to do its thing: For the first time in many decades, apartment rents are rapidly flattening (and could soon go negative) at the same time demand remains healthy. Why? Apartment construction is at 40+ year highs-- shifting the balance of power to renters. YoY, effective asking rents for new leases (same-store) inched up just 0.28% and could turn negative by September. Compare 2023 to the last two times (excluding 2020 pandemic year): early 2000s and 2009. In those prior two periods, rents fell as recessions hit, jobs were lost, demand evaporated and vacancy hit 7-8%. By comparison, in 2023, vacancy has been fairly stable since January in the mid 5% range. Demand is solid, but operators are giving on price in order to compete and to protect occupancy / cashflow. That'll likely continue through 2024 as supply peaks, before 2025-26 as supply by then will be significantly less. The rent slowdown won't show up in CPI until early-ish 2024. But it'll happen. CPI rents won't go negative by then, but they'll look pedestrian at that point.

シラカワスキー @shirakawa_love

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Charlie Kirk @charliekirk11

JUST IN—Jack Smith is now preparing NEW charges against Trump for raising money and investigating the security of voting machines. Add this to charges for challenging election results, for fielding alternate electors in case legal challenges were successful, and for keeping documents protected by the Presidential Records Act. These are literally all things Democrats have done. Democrats believe in "Show me the man, I'll show you the crime." Republicans believe in letting them get away with it.

シラカワスキー @shirakawa_love

某オンライン研修を受講中なのだが講師が下手すぎる……業界のレジェンドなのは分かるけどお爺ちゃん講師をカメラの前で喋らすのは双方ともに辛いものがある。その場で質問受け付けるわけでもないんだから原稿はレジェンドが書いて、笛吹雅子みたいなのが読み上げる分業体制にできないものか。