Land Prices

Luxury home sales were on rocket fuel last month in Dallas Texas. Sales of luxury homes price at a $1 million or more spiked 44 percent from May of last year. The average price of a Dallas home skyrocketed 21 percent year-over-year setting a new record high of $716,131. That's $124,000 higher than May of last year and $63,000 higher than the previous bubble peak of June 2022. While the Federal Reserve is still trying to shrink that bloated balances sheet, The U.S. Treasury department is still pumping out a lot of new debt issuance [...]