@MasterStrategist Agree. It remains a complicated situation, where we have a lot of moving parts, which are not all going in the same direction.
Regarding new supply, we had some interesting elements this week : - financing seems to be a major issue for some developers, looking at what AV Jennings announced yesterday (capital increase at 0.20 $ per share, vs a last listed price of 0.40 $ and an NTA of 1.04 $ per share, before capital increase), - 2 listed home builders* (of detached houses) announced their Q1 24 results this week. Both showed a significant margin improvement due to a lot of different reasons (less effect of fixed price contracts, lower cost inflation, less competition as 2,000+ building companies went bankrupt in 2023). But, revenues remain weak for both companies : Tamawood revenues are down 23 % vs Q1 22, while Simonds revenues are comparable to Q1 22 and down on Q1 23.
