What I’m Reading
Normalized: Before the pandemic, the barriers to widespread remote work were as much mental as they were technological. Now those barriers have broken down completely and the implications are huge for both regional population flows and the future of the office market. The Atlantic
Back to Normal: The COVID recession has been anything but normal but for one aspect – cyclical industries like manufacturing and construction are leading us out of it. The Bonddad Blog
Long Road Back: For the U.S. hotel industry, 2021 is expected to be significantly better than 2020 but still much worse than 2019, with occupancy projected around 50%, according to the latest forecast from STR. CoStar
Age Appropriate: Its not just millennials who are moving into single family rentals. The space is also attractive for young baby boomers who have decided to cash out of the hot housing market. Globe Street
RIP: Coworking company Knotel has filed for Chapter 11 bankruptcy, reporting assets of $1 billion and liabilities of $10 billion. This will get tagged with the ‘COVID related business failure’ logo, but I’m not sure that is really fair. This was a bad business model that COVID simply laid bare rather than a great business that hit a COVID-created wall. Bloomberg
Now For Some Good News: New research has suggested cheese and red wine could help to prevent cognitive decline as people grow older. In related news, my brain is a fortress, essentially immune from cognitive decline. Decanter
Chart of the Day
Amazing how hard this has flipped. Also, relatively bullish for multifamily when it comes to the rent versus own equation.
Source: John Burns Real Estate Consulting
WTF
Bound Up: An ex-con facing a felony narcotics collar insisted to police that the substance he was found in possession of was not heroin, but rather a chocolate laxative because Florida. The Smoking Gun
No Sense of Humor: Six people were arrested for hiking up to the HOLLYWOOD sign and changing it to HOLLYBOOB. LA Times
Basis Points – A candid look at the economy, real estate, and other things sometimes related.
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