What I’m Reading
Tis the Season: Apartment rents fell in more than half of the nation’s major markets this month, suggesting a widespread cooldown in a market that’s been buoyed by pandemic-driven shifts in consumer preferences. Apartment List To put this move in context a bit, rents typically follow a seasonal pattern and tend to decline in the final four months of the year when demand is lightest. 2021 has bucked this trend so far but signs are pointing towards a normalizing market.
White Hot: The pandemic-sparked delivery boom is fueling even more demand for last mile distribution space as one of the hottest segments of the industrial space keeps getting stronger. Wall Street Journal
Decentralized Future: Deloitte’s 2022 Commercial Real Estate Outlook is here. The most interesting part: the survey, answered by more than 400 senior executives at large commercial real estate firms, found that two-thirds of respondents expect their companies to be partially or completely remote in the future. Deloitte
Next Up? With many sunbelt markets quickly becoming unaffordable, there is a strong case to be made for northwestern Arkansas as the next hot market. Home to corporate behemoth Walmart, a rising state university, awash in philanthropy money, and still reasonably affordable, the region could be primed for growth. Bloomberg
Staying Power: The US manufacturing sector is showing no signs of softening after running extremely hot all year. Construction spending, on the other hand is down but nowhere near recessionary levels yet. Bonddad Blog
Chart of the Day
National rent data indicates that the market may be normalizing.
Source: Apartment List
WTF
Thunder Dome: A fun day at a trampoline park turned into a massive brawl involving hundreds of children because Florida. Fox 5
Invitation: A Louisiana man who was arrested for trying to enter his neighbor’s apartment at 2am told officers that “a big snake” told him to open the victim’s door and go inside. He also admitted to smoking crack just before the incident. The Smoking Gun
Basis Points – A candid look at the economy, real estate, and other things sometimes related.
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