What I’m Reading
Sitting Ducks: Idle cargo containers piling up in ports and storage yards have created a target-rich environment for thieves, resulting in yet another supply chain headache. Cargo theft has increased 42% YoY in California during the 3rd quarter. CargoNet
Out of Their Hands: The inflationary episode of the 1970s was mostly demand-driven. What we are experiencing today is driven by supply shortages, which are less likely to be impacted by rate hikes. Bloomberg
Slowing Down: Apartment List’s national rent index rose by 0.8% from September to October, the lowest reading so far in 2021, with rents falling in 22 of 100 cities. Globe Street Two important things to note:
- This is data on new leases which have far outpaced renewals in recent months. We are highly likely to see the two converge moving forward.
- Some of the slowdown is likely attributable to normal seasonal factors that largely disappeared over the past year.
See Ya: COVID-19 pushed many older workers to opt for an early retirement. Now, their absence is complicating an already difficult labor shortage. Wall Street Journal
Long Road Back: Multiple pandemic-era bans on international travelers coming to the United States are ending next week, but hoteliers in gateway markets aren’t predicting a major spike in bookings just yet. Bisnow
Chart of the Day
Submitted without comment.
Source: CRFB.org
WTF
Extra Motivation: A woman who pooped her pants halfway through a marathon and ran with it in her shorts until she crossed the finish line achieved a personal record. Yahoo News
Chicken Fight: A Pennsylvania woman is facing a criminal charge after allegedly striking another woman in the back of the head with a “cold chicken” at a Walmart. The Smoking Gun
Basis Points – A candid look at the economy, real estate, and other things sometimes related.
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