What I’m Reading
Legal Remedy: Some workers are beginning to look for legal remedies that allow them to continue to function remotely. The desire of some businesses to return to normalcy has led to a spike in requests from workers with disabilities—those with chronic illnesses that put them at risk for severe Covid infection, anxiety and depression, and other mobility impairments— for remote options as an accommodation under federal disability law. Bloomberg Law
Roll the Dice: Escalating material prices have made it challenging for contractors and manufacturers to bid on jobs, with owners sometime finding themselves paying out of pocket to cover overruns. Wall Street Journal
Culling of the Herd: COVID put a fork in struggling malls that had been on life support. However, top-performing malls that are part of larger, mixed use projects will likely emerge stronger than ever before. Axios
Hangover? $5.2 trillion in stimulus has provided a post-COVID economic tailwind that has led to 4% wage growth and rapidly escalating home prices. No one really knows how the economy will look when that high level of stimulus finally wears off, likely just in time for the 2024 presidential campaign. Washington Post
Stick a Fork in It: The Federal Housing Finance Agency (FHFA) is officially axing Freddie Mac and Fannie Mae’s controversial adverse market refinance fee. As a result, lenders won’t be required to pay GSEs a 50 basis point fee when they deliver refinanced mortgages, making refinancing more economical for borrowers. Housing Wire
Chart of the Day
US inflation and bond yields have completely decoupled.
Source: The Daily Shot
WTF
Revenge: A bear mauled a circus trainer twice in front of a large crowd during a performance because Russia. Gotta love when you read a headline and know exactly what country its from before even opening the article. New York Post
I Can’t Even: A study by YouGov and the Economist conducted last week found that roughly 20% of Americans believe that microchips are inside COVID-19 vaccines. On one hand, this is why we can’t have nice things. On the other, at least 20% of Americans are convinced of the origin of the microchip shortage. The Jerusalem Post
Basis Points – A candid look at the economy, real estate, and other things sometimes related.
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