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Hmmm.

Fortune 100 company layoffs beginning in earnest and will continue steadily over the next 3-4 years.  We'll see how the economy absorbs that but it's going to be very ugly for a lot of people, for a while.

unemployment rate 4.1%

2.8% in Iowait

unemployment rate 4.1%

2.8% in Iowa

It's only just begun.  Not sure how many Fortune100 companies are headquartered in Iowa, y'all are probably alright.  NY, California, Texas... gonna be a bloodbath for a while. 

Don't see it slowing up around here - the dirt is flying, lots of iron on the job sites.

But DR and Lennar have the money to play the long game, as does Taylor Morrison. Those are the most active right now in these parts.

Florida Housing Crisis Hits D.R. Horton & Lennar | Edmond Thorne | NewsBreak Original
Florida Housing Crisis Hits D.R. Horton & Lennar | Edmond Thorne | NewsBreak Original

we have some deals with DR/Lennar. they are STARVING for fully entitled shovel ready deals or as close to possible and they will pay through the nose for it. they'd rather pay more a fully entitled & developed site or for a fully entitled project and hire someone to do the development than go through the headache of land banking, entitling, and developing because while it's true DR/Lennar are publicly traded fortune 500 companies with the ability to raise more money than god to scoop up raw land they typically do not land bank- they don't want huge liabilities on their balance sheets- they are publicly traded companies- and all they care about is: share price. they aren't really home builders they are finance companies involved in building single/multi-family homes. and they build straight up garbage product- and in some of their communities down this way they charge just under $1 million for a 2,500 sq ft complete piece of cookie cutter sh*t that probably cost them $60-80/sq ft to build and where they've cut every corner and greased the city/township/county to get inspections passed that no other builder could get passed. And it's because: they paid through the nose for the land. 

Where I worked, they didn't do layoffs, ever.  They did "early retirement", which I got.  I see the layoff news mostly concentrated in Tech.  Aside from layoffs, another factor is when companies stop hiring newbies.


Microsoft, Meta, Amazon, and other tech giants are cutting back on headcount—but their spending on hardware and real estate keeps soaring | Fortune

I'd volunteer for early retirement today, lol.

we have some deals with DR/Lennar. they are STARVING for fully entitled shovel ready deals or as close to possible and they will pay through the nose for it. they'd rather pay more a fully entitled & developed site or for a fully entitled project and hire someone to do the development than go through the headache of land banking, entitling, and developing because while it's true DR/Lennar are publicly traded fortune 500 companies with the ability to raise more money than god to scoop up raw land they typically do not land bank- they don't want huge liabilities on their balance sheets- they are publicly traded companies- and all they care about is: share price. they aren't really home builders they are finance companies involved in building single/multi-family homes. and they build straight up garbage product- and in some of their communities down this way they charge just under $1 million for a 2,500 sq ft complete piece of cookie cutter sh*t that probably cost them $60-80/sq ft to build and where they've cut every corner and greased the city/township/county to get inspections passed that no other builder could get passed. And it's because: they paid through the nose for the land.

We alone have 7 land development projects going right now with Lennar and DR. They'll go through entitlement and move dirt if they have to.

My wife retired at 58 because she was bored - two days before the world shut down. I wish she had not. 

Everyone in that company now "works" from home. The corporate office is no longer - it's gone and sold.

Baxter Healthcare is a mere shadow of its former self.