FOMO is so first-half 2023.

Because of upwardly creeping house prices, and high interest rates, the more FOMO – for many first-time and entry-level home seekers – pivots to PO (priced-out), or WIO (waiting-it-out).

For homebuilders, what this means is that the math of trying to price-in highly price- and interest-rate-sensitive homebuyers is getting progressively tougher and more expensive.

As that plays out, it’s up to the