What I’m Reading
Safe Harbor: There is a growing interest in marina investment where cap rates have stayed relatively constant over the past year while demand for slip space has soared along with new boat sales. This fits in nicely with RanchHarbor’s thesis that real estate used to store discretionary durable goods (RVs and boats) will outperform in the coming years. We are working on investment opportunities in the space. Please reach out if you’d like to learn more. (h/t Steve Sims) WMRE
Staying Put: Apartment retention rates are approaching their COVID lockdown highs as tenants find that renewing is often their best option in an environment with a lack of housing at nearly all price points. Globe Street
Lifeline: Remote work is giving rural villages in Spain (and presumably the rest of Europe) that had suffered from depopulation a second life. El Pais
Kicking the Can: Microsoft became the latest large corporation to indefinitely postpone its return to US offices. The longer this continues, the more likely that remote work becomes permanent. CNBC
No End in Sight: Homebuilder construction material supply issues continue to get worse, slowing construction across the US. Calculated Risk
Charts of the Day
Shot.
And chaser.
Source: The Basis Point
WTF
Let it Rip: Apparently, if you hold in a fart too long, it can be reabsorbed into your bloodstream and breathed out when you exhale. New York Post
Wanker: A man was arrested for masturbating in the parking lot outside of a Texas gym. Of course his car had Florida plates. LMT Online
Basis Points – A candid look at the economy, real estate, and other things sometimes related.
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