Closing Announcement: RanchHarbor recently closed on Glenbrook Apartments, a 112 unit value add property in Boise, Idaho. Glenbrook is our second acquisition in the Boise market. We are excited about the closing and renovations are already underway. REBusiness Online
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What I’m Reading
YOLO: While the data is difficult to measure, there is a lot of anecdotal evidence that gains from crypto investment are finding their way into the housing market. John Burns Real Estate Consulting
Relief: The logjam at the ports has eased up somewhat. The number of containers at the L.A. port lingering long enough to trigger the fines — nine days or longer — has fallen 29% according to port Executive Director Gene Seroka. Lots of work to be done but this is a step in the right direction. Bloomberg
Confidence Game: Despite rising construction costs and a labor shortage, homebuilder confidence readings are still near all time highs. Calculated Risk
In the Money: Fannie Mae and Freddie Mac are going to start backing loans of nearly $1MM as home prices continue to soar. Wall Street Journal
Coming Home: Companies are beginning to re-shore their manufacturing as supply chain woes persist. Washington Post
Chart of the Day
Allocations to Alternatives continue to increase rapidly.
Source: Brad Johnson
WTF
Playing Possum: A New Zealand woman called the police to report that a possum was holding her hostage. After arriving on the scene, the possum was released without charge. The Guardian
Doggy Style: A man was beaten and threatened with a knife after catching his boyfriend “humping” their dog because Florida. The Smoking Gun
Basis Points – A candid look at the economy, real estate, and other things sometimes related.
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