1. NAHB index remains at healthy 83 in May same as Apr, housing construction material cost up 12% YOY;
  2. JLL is predicting 75% of workers will report to office by end of 2021, in recent ULI conf, WFH national will 2X before to 20% of total workforce. Avg workers weekly time in office drop from 4.5 days/week to 3.5 days post pandemic per Yardi Martrix, both agreed that office market is facing quantum shift going forward;
  3. International Air Transport Assoc expects business travel to bounce back more slowly than han leisure, because companies reduce travel budget and adoption of zoom/online conf during pandemic;
  4. ApartmentList.com analysis of US census survey shows that biggest jump in residential migration came from group with annual income $150k, up from 11.5% in 2019 to now 16%, implication for geographical distribution of wealth in favor of smaller metros vs gateway cuties;
  5. Data from FL Dept of Highway safety and motor vehicles indicated 33000 NYers exchange their DLs to FL DLs last year, up 32% over 2020, From 2019 to 2021 March, more than 105k NYers switched DLs to FL, followed by 54K from NJ;
  6. Pitchbook study found that VC industry has been moving out of bayarea for past 5-10 years, bayarea funded deals fell below 20% of overall deal flow for 1st time ever, but as far as the dollar amount invested by VCs, bayarea still the epi-center of the VC world;
  7. Blackrock PM said we have never seen American household in such good financial shape, 25% saving rate. They are dumping gold in portfolio (is this indication that they don’t see hyper inflation long term?);
  8. For first time since 1980, CPI is running ahead of 30 years mortgage rate, the uncertain part is how long this CPI number will last? 
  9. PM’s guide to water damage prevention and mitigation.
  10. LA city council is planning for max cap to 60% of CPI. Because of strong opposition, the vote was delayed;
  11. From some reports, this year the property tax in Austin was increased between 10% to 100%. Heard that the value of some properties were even doubled. Highly suggest property owners to protest for property tax reduction!