What I’m Reading
Fake it Till You Make It: A Miami (of course) financial company is offering “crypto mortgages” Wall Street Journal However, a careful reading of the offering reveals that it’s still just a loan secured by the property with an additional pledge of the borrower’s crypto holdings. This will get clicks and attention, mainly because people are lazy and fall for this sort of thing. Then again, I just wrote three sentences on it in a blog so apparently I’m Exhibit A.
Flight to Quality: Companies in newer, more highly amenitized office buildings are having an easier time getting their employees to come back in than those in older buildings. Bisnow
Slippage: Stretched affordability is causing more home sellers to lower their prices. While the total number of price drops remains low at 12%, mortgage rates indicate that it may be the beginning of a trend. CNBC
Growing Up: Vertical farms, or indoor agricultural facilities are starting to make some inroads in urban areas as demand for fresh produce continues to grow. However, some scientists have doubts about the industry’s ability to scale and diversify given the limitations of current technology. NY Times
Levered Up: US consumer credit jumped by $41.8 billion in February, more than double the expected $18.1 billion, nearly five times more than the upward revised $8.9 billion January number – which was revised upward from $6.8 billion). Morningstar
Chart of the Day
Most forecasters predicted a slowdown in rent growth in 2022 after 2021’s torrid pace. It hasn’t showed up yet.
Source: RealPage
WTF
Gotta Pay the Bills: A married potential juror in the Parkland shooting case told the judge that she can’t serve on the jury since she has a sugar daddy she needs to see every day because Florida. WhiskyRiff
Surprise Delivery: An 18-year old woman was arrested for beating up her 50 year old father after he opened an Amazon box addressed to her with a sex toy in it because Florida. The Smoking Gun
Basis Points – A candid look at the economy, real estate, and other things sometimes related.
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