What I’m Reading
Outside Set: With travel restrictions set to be lifted on 33 countries, brokers in cities popular with wealthy foreign investors are reporting a substantial uptick in requests for showings. This is looking like a big shot in the arm for the luxury segment in coastal gateway cities. CNBC
Reversion? Inflation expectations began to moderate somewhat last week as tapering is set to begin. Econobrowser
Help Wanted: The American Trucking Associations, one of the largest trade bodies, estimates the industry is some 80,000 drivers short of the workers needed to keep goods moving freely this year—up from an estimated shortage of 61,500 drivers before the pandemic. The distribution of truckers is out of balance as well, as port truckers become frustrated with extended waiting times and switch to long-haul routes. Wall Street Journal
Moving Target: Washington politicians continue to haggle over new tax provisions, leaving real estate investors and their accountants in an uncertain position with regards to mitigation strategies. The Real Deal
Fixer Upper: The bi-partisan infrastructure bill that was passed last Friday includes:
$110B for repairing and updating roads and bridges, $65B for improving the country’s broadband internet capabilities, $65B to rebuild electric grids, $55B to upgrade water infrastructure such as replacing the nation’s lead pipes, $39B for public transit improvements, $66B in rail network improvements, $25B for airport improvements, $21B for environmental remediation at brownfield and Superfund sites and $17B for port infrastructure.
Chart of the Day
This needs to reverse if we are going to begin clearing the backlog.
Source: Scott Lincicome
WTF
Jail Break: A woman who was arrested for DUI attempted to use her underwire bra to try to escape from jail because Florida. Villages-News
Pork Chop Chase: Five Florida police officers, at least two animal control officers and two code enforcement officers spent an hour chasing a runaway pig because Florida. Orlando Sentinel
Basis Points – A candid look at the economy, real estate, and other things sometimes related.
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