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Want more housing market stories from Lance Lamberts ResiClub in your inbox? Subscribe to the ResiClub newsletter. A few days after I launched ResiClub in October 2023, I wrote an article titled The key housing market metric heading into 2024. In it, I reaffirmed a point I had also made at Fortune in 2022: that some traditional rules of thumbi.e., months-of-supply thresholds for what constitutes a buyers market versus a sellers marketcould struggle in this postPandemic Housing Boom environment, where theres downward pressure on prices. For the time being, I suggested that an easy-to-create and useful metric for housing stakeholders to followone that helps gauge short-term pricing momentum and whether downside risk might manifestis a local markets level of active inventory compared to that same markets inventory level in the same month of pre-pandemic 2019. The thinking was that markets where active inventory remains well below 2019 levels would still exhibit some tightness, while those where inventory has surged back to or above pre-pandemic 2019 levels would experience a shift in the supply-demand equilibrium more in favor of homebuyers. Heading into 2025, I recreated that analysis showing the dynamic was still holding true. Fast-forward to today, and this particular data cut still proves useful (overtime ResiClub believes its usefulness will diminishjust not right now). Generally speaking, housing markets where active housing inventory for sale has surged above pre-pandemic 2019 levels have experienced weaker or softer home price growth (or even outright home price declines) over the past 36 months. Conversely, housing markets where active housing inventory for sale remains far below pre-pandemic 2019 levels have, generally speaking, experienced more resilient home price growth over the past 36 months. Indeed, just look at the scatter plot below showing Shift in home prices since their local 2022 peak Vs. active inventory for sale now compared to the same month in 2019 for the nations 250 largest metro area housing markets. !function(){"use strict";window.addEventListener("message",(function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r,i=0;r=e[i];i++)if(r.contentWindow===a.source){var d=a.data["datawrapper-height"][t]+"px";r.style.height=d}}}))}(); Below is the same scatter plot as the one above, only its color scheme is adjusted to show which markets have LESS active inventory now than in 2019 (BROWN) and which markets have MORE active inventory right now than in 2019 (GREEN). Click here for an interactive version of the scatter plot below. !function(){"use strict";window.addEventListener("message",(function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r,i=0;r=e[i];i++)if(r.contentWindow===a.source){var d=a.data["datawrapper-height"][t]+"px";r.style.height=d}}}))}(); To see if this data cut still proves useful, lets swap out home price since their local 2022 peak for year-over-year home price shift. The answer is yesthe trend still holds. (Recently, both the Wall Street Journal and John Burns Research and Consulting created their own versions of this longtime ResiClub scatter plot.) !function(){"use strict";window.addEventListener("message",(function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r,i=0;r=e[i];i++)if(r.contentWindow===a.source){var d=a.data["datawrapper-height"][t]+"px";r.style.height=d}}}))}(); Below is the same scatter plot as the one above, only its color scheme is adjusted to show which markets have LESS active inventory now than in 2019 (BROWN) and which markets have MORE active inventory right now than in 2019 (GREEN). !function(){"use strict";window.addEventListener("message",(function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r,i=0;r=e[i];i++)if(r.contentWindow===a.source){var d=a.data["datawrapper-height"][t]+"px";r.style.height=d}}}))}(); The current regional bifurcationgreater weakness in Sun Belt and Mountain West boomtowns and greater resiliency in the Northeast and Midwestshouldnt be surprising to ResiClub readers. Given that we cover that regional bifurcation frequently, were not going to spend time in this piece discussing whats driving that bifurcation. Instead, lets discuss why this particular data cut is useful right now, and why overtime it could become less useful.
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E-Commerce
The entire month of June is dedicated to celebrating the LGBTQ+ community and its many accomplishments and contributions to society. It is also important to take a moment to reflect on the struggles faced by this community and the work still left to be done against intolerance. Since Pride can directly trace its origins back to New York City, it is only fitting that the Big Apple hold a big parade. This years march takes place today (Sunday, June 29, 2025) at 11 a.m. ET Although some companies have scaled back their fanfare due to an anti-DEI (diversity, equity, and inclusion) climate, one could argue that makes this year all the more important. Let’s take a look at the beginnings of pride, this years focus, and how to catch the parade both in person and on television. A brief history of the NYC Pride March While many call the festivities a parade, Heritage of Pride, the nonprofit behind Pride events in New York City, prefers the moniker march. That’s because of the activist roots of the event. The march specifically honors the anniversary of the Stonewall Uprising of 1969. During the 1960s, same-sex public displays of affection such as kissing, holding hands, or even dancing were illegal, so bars owned by organized crime groups became places of refuge for the community where they could express themselves freely with out fear. When police raided the Stonewall Inn on the morning of June 28, it angered bar patrons and those who witnessed the police harassment. A weeklong protest helped invigorate the modern gay rights movement. The following year, a march from the Stonewall Inn to Central Park was held to commemorate the event. In 1999, President Bill Clinton made the first official presidential proclamation declaring June Pride Month. In 2016, President Barack Obama made the Stonewall Inn a national monument. The anti-DEI movement and Prides response President Donald Trump’s second administration has rolled back many DEI initiatives, causing a ripple effect. As a result, many corporations have not been as enthusiastic in their allyship the year. A Gravity Research survey of more than 200 corporate executives found 39% are scaling back in 2025, with zero individuals reporting an increase. Sixty-one percent cited the Trump administration, conservative forces, and Republican policymakers as the reason for this shift. “Rise up: Pride in Protest,” this years theme, appears to be a defiant reaction to the current political climate. If those in power wont recognize the community, the people must step up. We must support one another, because when the most marginalized among us are granted their rights, all of us benefit, Kazz Alexander, NYC Pride co-chair, said in a statement. Pride is not merely a celebration of identityit is a powerful statement of resistance, affirming that justice and equity will ultimately prevail for those who live and love on the margins. What is the route for the NYC Pride march? The march will begin at 26th Street and 5th Avenue and conclude at 15th Street and 7th Avenue in Manhattan. How much does it cost to attend the Pride march? The event is free to attend. How can I watch or stream the NYC Pride march? If you can’t attend in person, join this years grand marshals Karine Jean-Pierre, Marti Gould Cummings, DJ Lina, Elisa Crespo and Trans formative Schools on television. Those watching from their homes can tune into WABC-TV, aka ABC-7, or wherever you live-stream abc7NY at 12 p.m. ET.
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E-Commerce
Adding the word voluntary in front of separation, retirement, and severance packages seem to be the new, empathetic way for companies to handle layoffs whether it’s the tech industry or higher education. These programs, also broadly known as voluntary incentive separation programs, have been around for decades. They first gained traction in the ’80s and ’90s and saw a resurgence of popularity during the COVID-19 pandemic. Voluntary layoffs are programs that offer employees incentives to leave. These incentives may include extra pay for a few months, healthcare coverage, and other employment services such as career counseling. Why is this beneficial for employers? Typically, voluntary programs are offered in order to avoid involuntary layoffs down the line.They allow for employees to retire early or make a career change. Christopher Nickson, vice president and senior consultant for HR firm Segal, explains that voluntary layoffs are often beneficial for companies looking to downsize their highest paid employees. Oftentimes you are taking somebody who has worked for the organization for many years, and as time has gone on, their wages have gone up steadily as a factor of increased experience, Nickson said. He points out theyll typically be replaced by someone with less experience. The result is they come in, typically at a [lower] compensation rate that’s beneficial to the company, Nickson said. Essentially, companies view the voluntary programs as a more empathetic and transparent approach to cost savings than layoffs where employees are given no choice. But not all who are offered these programs agree. In April, Duke University announced a voluntary layoff program in order to cut 10% of the universitys costs, or roughly $350 million. The offer included compensation for one week of regular pay multiplied by years of service, maxing out at 26 weeks. In response members of the Duke community wrote a letter entitled Duke, Dont DOGE to the universitys administration and president, Vincent E. Price, pointing out that cuts could be made elsewhere. The letter calls the voluntary layoffs institutional hoarding. It notes that some of the highest paid members of the institution (those making over $1 million), including Price, could take a 25% pay decrease, and those earning $500,000 to $1 million, could take a 10% decrease voluntarily and save Duke $6.6 million. Duke is one of the first major universities in the country to enact sweeping layoffs across its workforce. This is a historic and devastating move, the letter states. And while workers are losing their jobs, housing, healthcare, and immigration status, Dukes top administrators and athletics personnel continue to pull six-and seven-figure salaries. There are no cuts at the top. Theres no shared sacrifice. Just more for themand less for everyone else. Nickson argues that universities like Duke are in a tight spot since enrollment rates are dropping, and universities are seeing grant and funding cuts. Overall, Nickson believes these programs are a good way to minimize or avoid involuntary layoffs later on. It’s a win for both the institution and for the individual,” he said. What to consider when offered a voluntary layoff It can be difficult to decide whether or not you should take part in a voluntary layoff or buyout. Here are some factors to consider: Your likelihood of being laid off. Ask yourselfhow likely is my position to be impacted later on? And, how strong is the current job market for someone with my experience and skills? If you feel like you’re going to get laid off if you don’t take the severance, you may as well do it, career coach and founder of Life after Layoff Bryan Creely said. The voluntary severance is generally going to be more attractive because they’re trying to incentivize people. If you don’t take the voluntary severance and they move to eliminate your job anyway, it’s likely not going to be as attractive of a package. Where you are in your career and what you want next Taking a voluntary leave could open the doors for a career change, offering an exit from an unwanted job, or a ramp into retirement. Consider how easy will it be for you to pivot. Are you looking to switch industries entirely, which may take longer to find a job or gain additional certification? Or are you mid-level, at your career prime with a niche or specialized background where there’s demand for your skills? Are you close to retirement? Would taking a voluntary layoff allow you to financially and emotionally move on comfortably without having to find a new position? Hypothetically, if you’re close to retirement and you have the option to take part in a voluntary layoff for one year’s payment, this is a great opportunity for you, said Micah Alpern, senior managing director at CEO global advisory firm Teneo. But, if you’re a young person, like a newer, tenured employee, this might be very negative to you if you receive four months severance but have to find a new job. What is being offered and what are your rights? It may be helpful to enlist the help of a financial adviser, career coach, or legal counsel to understand the full scope of your needs and rights. As each program has different incentives and financial offerings, it is important to fully understand your offer before accepting or declining it, as each program varies with their incentives and financial offerings. Typically, taking a voluntary layoff means you still qualify for unemployment in most states. But, you should get a written statement from your employer, stating the reasons for the layoff. For better or for worse, theres a good chance these programs will continue, as general rates of layoffs have remained consistent over the past few years in the U.S. The layoff cycle is getting shorter and shorter. It used to be that there would be a layoff cycle that would happen once a decade, Creely said. Then COVID-19 hit, and now the layoff cycles have now gone from roughly every 8 to 10 years down to two years, or even shorter than that. I think they’re becoming a much more prevalent part of corporate culture unfortnately.
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E-Commerce
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