We’re back after some technical difficulties yesterday.
What I’m Reading
Bluebird: With low interest rates, strong capital flows and a favorable market outlook, conditions are more ripe for a lending boom than they have been in years. Question is whether or not the lending discipline that has defined the market since the end of the Great Recession will hold. Commercial Property Executive
Race to the Top: Redfin’s Market Tracker found that national rents continued to rise at a record pace in September but are still being outpaced by mortgage payment growth. Redfin
Dumpster Diving: The lowest rated securities tied to CLOs returned a whopping 29% + through August, beating major stock market indexes and leading to increased buying activity from large investors. The scramble for yield continues, unabated. Wall Street Journal
Leading the Way: Giant retailers like Walmart, Target and Home Depot are increasing night time hours significantly on the logistics side of the business in an attempt to ease supply chain congestion. Chain Store Age I’m actually surprised that they weren’t doing this already as the issues we are experiencing have been building for months now.
Its Complicated: With the Libor phase out now imminent, floating rate loan offerings are about to become more complex thanks to a wider variety of options based on new benchmarks. Bisnow
Chart of the Day
This one is a major narrative violation: per capita income has growth faster than housing prices everywhere in the US except for California since 1975.
Source: Len Kiefer, Deputy Chief Economist at Freddie Mac
WTF
Not How it Works: A self-proclaimed “designated river” was charged with DUI after blowing a .140 breath sample because Florida. Boca News
Tangled Web: A police officer was arrested after getting caught having sex in the back of a squad car, while on duty. To make matters more bizarre, the officer was in uniform and the boyfriend of the woman he was having sex with was filming them because Florida. International Business Times
Basis Points – A candid look at the economy, real estate, and other things sometimes related.
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