CEO McKinley - Customer passionate with most marvelous team on the planet #Multifamily #PROUDAmerican #CubanImmigrant #Grandad #Basque 🇺🇸⚓️🇨🇺⚓️🇪🇸

Vero Beach/Saugatuck/AnnArbor
Joined May 2009
Albert M. Berriz retweeted
The Fed is trying to navigate between war-fueled inflation and mounting threats to a fragile economy. Raising rates now risks running it aground.
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Albert M. Berriz retweeted
Then there are the higher long-term interest rates. The 10-year Treasury yield is swinging wildly around 5%, and fixed mortgage rates are firmly above an unaffordable 7%. Corporate bond spreads have also widened. Unless rates recede soon, this will do real damage. Bond investors are already doing the Fed’s work for it.
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Albert M. Berriz retweeted
The Iran war appears to be heating up again, helping push global oil prices back near wartime peaks. This will lift inflation, and the Fed can’t ignore that, but rate hikes won’t bring oil prices down. Higher oil prices will further undermine real wages and, ultimately, consumer spending, something the Fed shouldn’t dismiss.
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Albert M. Berriz retweeted
The Fed won’t raise interest rates again when it meets this week, and it shouldn’t. The economy is threatened by a growing list of risks, and a Fed misstep is one of them. That’s the clear message in our risk matrix, which sizes up each risk by how likely it is to occur over the next 12 to 18 months and how much economic damage it would cause if it did. There’s a lot of red in the matrix, indicating risks that are becoming more likely or more severe.
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Albert M. Berriz retweeted
7 pm | Multiple astronomical high tide cycles with pounding surf at our beaches will cause multiple hazards, including saltwater coastal flooding, moderate to locally major beach erosion, and a high risk of life-threatening rip currents. #FLwx
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Albert M. Berriz retweeted
A developing area of low pressure will bring the potential for multiple rounds of heavy rain and isolated flash flooding Sunday through Monday. Windy conditions are also expected, with maximum gusts near 40 mph along the coasts.
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Albert M. Berriz retweeted
Low pressure may try and organize SE of #florida by latre weekend. If it does develop then we could see some good rainfall along the coast Sunday-Wednesday along with poor boat & beach conditions. Stay with #weshwx for updates.
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Albert M. Berriz retweeted
Wondering what's going on this weekend? Check out this timeline! We're expecting multiple hazards across South FL, including heavy rainfall, moderate to major coastal flooding, gusty winds & beach and marine concerns. Stay tuned for more updates as we approach the weekend!
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A strong non-tropical low pressure area is expected to form during the next day or two off of the eastern coast of the U.S. This low is likely to move slowly and erratically through the middle of next week, and some subtropical development is possible during this time. Regardless of development, this system will cause high winds, coastal flooding, and dangerous surf along portions of the U.S. East Coast. Please consult statements and warnings from local National Weather Service offices and the @NWSWPC for more information. * Formation chance through 48 hours...low...near 0 percent. * Formation chance through 7 days...low...20 percent.
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Albert M. Berriz retweeted
Nearly $2,000. By my calculation, that is what the Iran war has cost the average American household since the war began nearly eight months ago. Nationwide, that adds up to $265 billion.
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4 PM CDT Thu Oct 8 (Advisory 9) Key Messages for Hurricane #Isaias. Latest info: hurricanes.gov 4 PM CDT jueves 8 de octubre (Aviso 9) Mensajes clave sobre el huracán #Isaias. Más información: hurricanes.gov
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4 AM CDT Thu Oct 8 (Advisory 7) Key Messages for Hurricane #Isaias. Latest info: hurricanes.gov 4 AM CDT jueves 8 de octubre (Aviso 7) Mensajes clave sobre el huracán #Isaias. Más información: hurricanes.gov
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Albert M. Berriz retweeted
LIVE: The members of Crew-12 are inside their spacecraft and ready to head back to Earth. Watch as they undock from the @Space_Station around 8:05am ET (1205 UTC) and begin their trip home. xitter.cf/i/broadcasts/1wxWjlQNP…
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Albert M. Berriz retweeted
LIVE: After nearly eight months aboard the @Space_Station, it’s time for Crew-12 to come home. Tune in as the spacecraft hatch closes around 6:20am ET (1020 UTC). xitter.cf/i/broadcasts/1aKbdEQgX…
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4 AM CDT Wed Oct 7 (Advisory 3) Key Messages for Tropical Storm #Isaias. Latest info: hurricanes.gov 4 AM CDT miércoles 7 de octubre (Aviso 3) Mensajes clave sobre la tormenta tropical #Isaias. Más información: hurricanes.gov
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Albert M. Berriz retweeted
We’ve got a cone! 100mph winds=Cat 2! Please RT to get the word out! #Isaías
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Albert M. Berriz retweeted
My last post argued that the 4.2% unemployment rate understates the slack in the job market. The dotted line in the chart gives you a sense of what I mean. It is a slack-adjusted unemployment rate that combines the unemployment rate with the jobless rates implied by quits, hiring, and the prime-age employment-to-population ratio, weighted by how well each predicts wage growth.
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Albert M. Berriz retweeted
The soft September jobs report is more compelling evidence that the Federal Reserve is falling short of its full-employment mandate. Payrolls barely rose this month, and prior months were revised lower. Job gains remain especially narrow across industries, with fewer than half the industries in the BLS survey adding to payrolls. Wage growth continues to slow and is less than inflation, despite solid productivity growth.
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Albert M. Berriz retweeted
Useful visualization for policymakers and reporters tempted to frame rent control as a "renter protection," when in reality the evidence is quite clear that there are significant negative societal impacts downstream. 1) No reduction of homelessness. 2) Less housing supply and construction. 3) Higher rents for non-rent-controlled units. 4) Reduced housing quality. 5) Benefits only in-place residents (in terms of rent, not building condition.) Be very careful how you frame a policy that is spun as one thing but that does the opposite.
A new piece in the Financial Times created a great visualization of the results from this study. TL;DR: Rent control helps people whose rents get limited, but it hurts everyone else. It pushes up rents, pushes down new building, and makes cities worse. It is horrible policy.
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Albert M. Berriz retweeted
Year-to-date apartment demand in 2026 is the third-highest in history, behind only 2021 and 2024, according to CoStar. Friendly reminder that home sales were booming in 2021, so you can't explain away the 2026 number entirely by blaming low move-outs to purchase. Renters are renting, longer, yes, but the net leasing gains in 2026 are significantly higher than forecasters expected. At the same time, apartment supply is leveling off (at nearly half the peak rates of earlier this decade), and demand now exceeds supply again -- pushing down vacancy rates for the first time in nearly 5 years. Rents are starting to slowly regain some momentum, as well. And because of the Fed's commitments to higher rates, it's unlikely we'll see apartment construction starts re-accelerate any time soon. Remember the prior low rate era led to a generational supply wave that pushed down rents even amidst strong demand. And because rents (through various mechanisms) are the single-largest variable in CPI, it sets up a potentially challenging scenario for those committed to using CPI (and all its warts as it relates to shelter/rent methodology) as an inflation benchmark.
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