What I’m Reading
Double Edged Sword: Almost everyone claims to want more affordable housing but there is little will to actually achieve it. In reality there is no widespread affordable housing without a decline in property values and no politician gets elected to statewide office by promising to slash real estate values. This is why affordable housing tends to be more of a platitude with one-off band-aid solutions than a real policy goal. Brilliant stuff from Jonathan Lansner in the OC Register last week. OC Register
In the Line of Fire: Areas that are most susceptible to climate related catastrophes are experiencing substantial population growth. CNN Business
Adaptive Reuse: Chaos in the global logistics market has led to a boom in the conversion of jumbo passenger jets to cargo planes. Forbes
Pulling Out All The Stops: Office landlords are trying to coax tenants back by overhauling their buildings and adding extravagant amenity packages. I can’t be the only one who sees the parallel to mall owners pivoting to experiential retail over the past 20 years as their properties declined in value….. NY Times
On Notice: Last week, Federal Reserve chairman Jerome Powell gave the strongest signal yet that some pandemic-era support that’s bolstered the economy and stock market might go away this year. But he stopped short of a firm commitment and timeline. Axios
Chart of the Day
Somewhat shocking that apartment values look quite attractive on a relative basis given recent pricing moves. Yet, here we are.
Source: Green Street
WTF
If This Towel’s a Rockin’…. A woman was arrested for masturbating with a vibrator on a Georgia beach after witnesses heard moaning. The Smoking Gun
When You’ve Gotta Go: A woman was arrested after allegedly urinating in the parking lot of an apartment complex because Florida. When spotted by a patrol officer who asked her what she was doing, she responded “peeing.” Sadly, I don’t think that the police give bonus points for honesty. Villages News
Basis Points – A candid look at the economy, real estate, and other things sometimes related.
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