What I'm Reading Contagion: The housing affordability crisis used to be a coastal, blue state issue. It has now gone nationwide. New York Times When it Rains, It Pours: America is facing the twin threats of rail and trucker strikes just as signs emerge that its ports on both coasts...
July 15th – Looking Ahead
What I'm Reading Looking Forward: CPI hit a 40-year high but its a backward-looking number. Many forward looking indicators are starting to tell a very different story – a story of falling demand and falling prices, and the risk of falling into deflation. Pragmatic Capitalism Beat the Heat: Some employees...
July 14th – No Shelter
What I'm Reading Walk Out: Some California truckers who move containers in and out of the marine terminals at the ports of Los Angeles and Long Beach say they plan to participate in a work stoppage Wednesday to protest a controversial state law, AB5, that seeks to limit the use...
July 13th – Stand Off
What I'm Reading Stand Off: The industrial market remains extremely tight when it comes to occupancy and rent growth. However, transactions are slowing as the bid-ask spread between buyer and seller rise. Globe Street Haves and Have Nots: Remote work may be great for long time employees but it has...
July 12th – Mixed Signals
What I'm Reading Mixed Signals: The US employment report for June continued to show a strong labor market consistent with a strong economy with moderating inflationary pressures. However, other economic data are telling a worrisome story of an economy that could be entering into recession even while the underlying inflation...
July 11th – Staying Power
What I'm Reading Staying Power: As the pandemic fades, there was a sense that the effort to shorten supply lines and bring production back home would fade. However, that isn't happening. The construction of new manufacturing facilities in the US has soared 116% over the past year, dwarfing the 10%...
July 1st – Scaling Back
What I'm Reading Scaling Back: As prices climb on restaurant menus and grocery-store shelves, some packaged-food makers see more Americans making meals at home to save money, while restaurant operators are changing their offerings to cope with increasingly price conscious consumers. Wall Street Journal Taking a Toll: Higher mortgage rates...
June 30th – Nudge
What I'm Reading Boxed In: Steeper borrowing rates and high prices in the housing market are leading many buyers to give up. That is welcome news for owners of single-family rental homes. Wall Street Journal Moment of Truth: A recession will either be the catalyst that forces employees back to...
June 29th – June Gloom
What I'm Reading June Gloom: CRE market participants are increasingly negative as capital market woes take a toll. RCLCO released a new report saying that sentiment of real estate professionals has slipped nearly down to the range the firm associates with market distress and recession. Globe Street Today's CRE market...
June 28th – Bid ‘Em Up
What I'm Reading Bid 'Em Up: An unattainably expensive housing market and record low vacancies have resulted in a once-unthinkable situation - bidding wars for rental units. NPR Kicking the Can: Rising rates will make it difficult for some borrowers on marginal properties to refinance maturing CMBS loans. Expect another...