What I’m Reading
Stand Off: The industrial market remains extremely tight when it comes to occupancy and rent growth. However, transactions are slowing as the bid-ask spread between buyer and seller rise. Globe Street
Haves and Have Nots: Remote work may be great for long time employees but it has been less than ideal for new team members. This has potential long-term corporate culture issues. The Atlantic
Tailwind: GDP may be falling but the labor economy is not showing signs of a recession. TKer
Liquidation: The board of Seritage, the REIT that holds all of Sears’ legacy property, has unanimously recommended that the company’s shareholders vote to approve a plan to sell all of the company’s assets and then dissolve. Looks like this is the final chapter for Eddie Lampert’s Sears debacle Bisnow
Boomerang: The yield curve (2-10 Treasuries) has inverted once again as recession fears grow. Compound Advisors
Chart of the Day
China has lost the vast majority of its wage competitiveness advantage with the US.
Source: Financial Times
WTF
Voices in My Head: A man set his boss’s house on fire because ‘spirits told him to’ because Florida. News Channel 8
Fork Off: A man attacked a diner at a restaurant with a fork when his kids were being loud because Florida. Miami Herald
Basis Points – A candid look at the economy, real estate, and other things sometimes related.
Visit us at RanchHarbor.com