|The Shift is HereWe are excited to publish our August Market Insights! Please, use the link below to access our latest report:Blue Pebble Market Insights (August 2022)|
For those who just want “The Skim:”
1. Figuring Out the Macro Picture
2. Demand Slowing
3. Listings – No Shift, yet.
There’s an amazing scene from the movie, “The Naked Gun,” in which Leslie Nielsen puts his hands above his head and declares, “Nothing to see here!” to a crowd of civilians after witnessing a sequence of car crashes involving an oil tanker, surface-to-air missile launcher, and finally, a fireworks shop. The driver who found himself in the unfortunate crash was hurtling uncontrollably at his impending doom to find that he survived the first two crashes — it all ended for him when he ran into the fireworks store riding the missile. (If you haven’t watched this movie, grab some popcorn and throw it on this weekend.)While I’ve made references to this movie before, it’s hard not to again see the similarities between the movie and our economy. Even though the Fed started raising rates almost 6-months ago, on the surface, it seems that everything is “ok” right now. Just as the car driver was able to brush off crashing into an oil tanker, investors have so far brushed off huge, short-term rate hikes. Yet, cracks are starting to emerge in our economy that suggests the consolidation cycle might not be “over,” yet. Read on for a quick discussion of the macro environment as well as how Denver’s real estate market is reacting.
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