What I’m Reading
No Going Back: The pandemic has has accelerated the adoption of data access as an essential CRE technology. At this point, it is no longer just a pandemic solution and is here to stay. Globe Street
Priced Out: Despite record low mortgage rates, the spike in housing prices last year has resulted in the worst affordability squeeze in 12 years. Bloomberg
On the Ropes: Katerra was supposed to disrupt the construction industry by focusing on high-tech prefab. Instead, lead investor SoftBank is pumping another $200MM in order to keep it from filing bankruptcy. Bisnow
Don’t Call it a Comeback: Los Angeles is not only the entertainment capital of the world, it is also at the heart of the e-commerce boom as home to the ports of LA and Long Beach. As major job generators, these two sectors will likely from the foundation of LA’s recovery. Commercial Observer
Win/Win: Restaurateurs and hoteliers are teaming up to create private dining experiences that allow guests to get out of the house, but limit their exposure to others. NY Times
Warp Speed: Spurred by the pandemic, business changes that normally might have taken years unfolded in months. Now, shifts that began as temporary fixes are likely to become permanent. Wall Street Journal
Chart of the Day
The gap between US residential and non-residential construction spending continues to widen.
WTF
Rough Night: A man who rode his airboat through the streets of a residential neighborhood on New Year’s Eve while lighting off fireworks and knocking over trash cans, threatened to kill deputies as they were taking him into custody because Florida. Click Orlando
Joy Ride: A man who stole an excavator from a construction site drove it through the maternity entrance at a nearby hospital because Florida. First Coast News
Basis Points – A candid look at the economy, real estate, and other things sometimes related.
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