What I’m Reading
Plug and Play: Remote work (which may or may not be temporary) during the pandemic has fueled demand for furnished short-term housing. What I find interesting here is that mobility had been falling for decades and the accelerated abruptly. Question is what happens to that increased mobility after the pandemic is over. Wall Street Journal
Mixed Bag: Democratic control of the presidency and both houses of Congress will likely result in increased federal stimulus, infrastructure spending, and more friendly immigration policy – all of which would be good for real estate. However, it could also mean higher taxes, more regulations and the elimination of the 1031 exchange. Commercial Property Executive
Up, Up and Away: COVID crushed airline passenger traffic but it has also led to a well-documented boom in eCommerce. As a result, air cargo construction has become a hot development space. NY Times
The Haves and Have Nots: As the pandemic rages on, lender deal appetite varies greatly by product type with industrial and multifamily most in favor and hospitality and construction the most difficult. Globe Street
Chart of the Day
Oxford Economic calling for the neutral fed funds rate to stay below 2% until……..at least 2030.
Source: Oxford Economics
WTF
Booze Cruise: A drunk who stole a tiki bar boat and took it for a joy ride was arrested by the Coast Guard because Florida. Fox 6
Joints for Jabs: Cannabis reform activist group DC Marijuana Justice (DCMJ) announced in a press release Monday that, come spring 2021, if vaccines are widely available to the public , they will hand out free bags of cannabis at some vaccination sites in the district. Now THIS is how you get people vaccinated. Vice
Basis Points – A candid look at the economy, real estate, and other things sometimes related.
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