What I’m Reading
Fueling Up: The pandemic has reduced interest in international investments for US-based asset owners. At the same time, foreign investors are showing an increased appetite for US, with 75% of respondents to a recent AFIRE survey indicating that they would increase their volume here in the next 3-5 years. Take a guess what happens next. Pensions and Investments
Leading the Way: Aggregate employment is still below its pre-pandemic level. However, some sectors are setting records. One example is warehouse employment where better pay and benefits, coupled with booming ecommerce demand is attracting applicants by the millions.
Source: Tker
Twist Ending: When COVID first hit, it threatened to ruin Americans’ finances. Instead, stimulus payments brought millions out of poverty and allowed them to clear debt, and households of all income levels built up savings. The stronger finances are expected to aid stability as normal spending and higher inflation return. Wall Street Journal
Out Sick: Five million workers are staying home due to Omicron, putting pressure on the American economy and causing the White House to consider further stimulus measures. Business Insider
Tug of War: Multifamily fundaments are still very strong headed into 2022. However, historically high valuations, low yields and rising interest rates are causing some consternation in markets where construction is ramping up. Commercial Observer
Chart of the Day
Renter income growth was incredibly strong in 2021.
Source: RealPage
WTF
Gotcha: Australia’s efforts to let the media and public watch tennis superstar Novak Djokovic’s court appeal against his visa cancellation descended into farce on Monday as pranksters hijacked the internet links to stream loud music and porn. Thomson Reuters
Shell Shock: A giant robber crab snapped a golfer’s club in half during a game because Australia. NY Post
Basis Points – A candid look at the economy, real estate, and other things sometimes related.
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