What I’m Reading
Pacman: BREIT is buying another operating platform. This time, its industrial investor PS Business Parks, which will be purchased for $7.6 billion. Business Wire Permanent capital continues to eat the (commercial real estate) world.
Race to the Bottom: Companies keep paring down their demands for days in the office. Wall Street Journal
Leveling the Playing Field: Pandemic-spurred remote work allowed companies to hire the best talent, regardless of location. New York Times
Rollback: The reversal of globalization is wreaking havoc in commodities markets, making the world economy more complicated. Disciplined Systematic Global Macro Views
Shrinkage: Portland, Oregon lost 14% of its rental units between 2015 and 2020. In 2017, Portland passed a city-wide rent control bill. I understand that correlation isn’t causation, but….. The Real Deal
Chart of the Day
Household unbundling, visualized:
Source: Realpage
WTF
Gottem: A driver was arrested for DUI after colliding with a police cruiser because Florida. IONTB.com
Everybody’s Got a Plan…..: A man who decided to pester Mike Tyson while on a flight got punched in the face because Florida. TMZ
Basis Points – A candid look at the economy, real estate, and other things sometimes related.
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