楼市迷局：六亿房屋背后的盖楼狂潮 全国六亿栋房屋，足以容纳六十亿人口——这一官方数据，曾一度引发全国关于房产过剩的热烈争论。然而，即便考虑到数据中包含了自建房、学校、厂房 等非住宅建筑，国内房产的巨大存量依然不容忽视。 令人费解的是，在"过剩"论调甚嚣尘上的背景下，开发商们却依然保持着高强度的建房节奏，每年数 千万套新建商品房源源不断涌入市场，这究竟是为何？ 事实并非简单的供需失衡。开发商的持续建房，并非源于对市场盲目乐观，而是深陷一个错综复杂的局面，由以下四个关键因素驱动： 一、房产金融化加剧供需错配 虽然从总量上看，我国住房已达过剩，但问题的关键在于房产的金融属性。大量的房产被少数人囤积，而非用于居住或出租，这些"沉睡"的房产并未进入市 场流通。因此，市场上实际可供选择的住房仍然不足以满足刚需和改善型购房群体的需求，开发商的建房行为，很大程度上正是为了填补这一市场缺口。这 就像一个巨大的水库，虽然水量充足，但大部分水被锁在水库深处，无法被有效利用。 三、改善型住房需求持续释放 许多家庭最初只能购买小户型住房，随着经济条件改善或家庭人口增加，改善型住房需求日益旺盛。一些家庭则追求更舒适的居住体验，希望更换房 ...

[Applause] Hi, I'm Mark Walford and I'm here to talk to you today about ecological identity and the power of reconnection uh to nature, to each other. And to get us in the mindset of this, I'd like you to think about your favorite nature spot. Mentally put yourself there. Maybe it's your favorite fishing hole or city park, a hiking trail you go to, your own backyard, your parents' garden, some amazing awfilled place you went on vacation. Put yourself there mentally, your favorite spot in nature. One of mine ...

[Music] Hello everyone. Sorry I'm a little bit loud. I'll just quickly jump into what I want to say as I have a flight to catch in a little bit.When I was 22 years old, I launched Bhuvaneshwar's largest residential project till date. Many people came to me and they told me that my ambitions might lead me astray. They said that Bhneshwar doesn't have the appetite for such high quality real estate.And on top of that, I launched this project in March 2020 during the peak of the pandemic. Despite all odds, we s ...

Core Insights - Martin Marietta Materials Inc (MLM) stock has experienced a decline of 11% since November 2024, despite reporting an operating margin exceeding 42% in 2024 [1] - The company trades at a premium valuation of 32 times earnings, resulting in a low earnings yield of 3%, compared to Meta's lower multiple of 23 times and higher revenue growth [1] - Historical performance shows vulnerability during economic downturns, with significant stock price drops during the 2008 financial crisis, the COVID-19 pandemic, and inflationary pressures in 2022 [1] Financial Performance - As of Q1 2025, Martin Marietta reported revenues of $1.35 billion, an 8% year-over-year increase, with projected FY26 revenues between $6.83 billion and $7.23 billion, indicating a growth of 5 to 10% [4] - The company has seen a notable increase in debt levels, rising from $3.95 billion at the end of 2024 to $5.41 billion as of March 31, 2025, with a debt to EBITDA ratio of 4.06, exceeding the industry median [3] Market Position and Demand - Martin Marietta benefits from stable demand driven by infrastructure expenditures, particularly from government initiatives like the U.S. Infrastructure Investment and Jobs Act (IIJA), which allocates $1.2 trillion for infrastructure projects over five years [2][6] - The company is one of the largest providers of construction aggregates in the U.S., which provides it with pricing power and economies of scale [2] Pricing and Revenue Growth - In Q1 2025, the average selling price of aggregates increased by 6.8% to $23.77 per ton, supported by organic price improvements and margin-accretive acquisitions, suggesting continued pricing momentum [7] Risks and Challenges - Weather-related risks pose a threat to operations, with historical disruptions from hurricanes and storms impacting production and revenue [5]