blueduck

About 44% of new construction homes over the past 20 years have had 4+ bedrooms. The American Housing Survey uses categories rather than numbers, so 4 and 5+ is the most granular we can get.

It’s a significant problem in the housing market, often called the “missing middle”, where we don’t have enough starter homes for young/new buyers to get on the housing ladder. We are only building large homes used by families who already have a lot of equity

Preheating makes a big difference

OPEC+ already announced an increase in production to keep prices down.

Close of Friday was $60/barrel. Futures markets have them at $69 late on Sunday.

I doubt we’ll see anything in the $100 range. Too much cheap shale oil from the US and heavy, dirty crude from Venezuela having a market in the gulf should absorb major supply side shocks

Edit 00:04 UTC

Early market moves in East Asian are seeing +8% from Friday’s close at $72 and $79 (different oil grades). But this might be overreaction in the east as we wait to see what happens when the Middle East wakes up. It’s still 3AM in Riyadh, so it’s slow news coming out of Saudi Arabia