What I’m Reading
Coming Into Focus: With COVID-19’s resurgence, the early days of the Biden Administration will likely have a heavy focus on health and economic stabilization with an emphasis on infrastructure as well. As a result, it is less likely that proposals to narrow or eliminate 1031 exchanges will gain traction, at least early on. Benzinga
High Demand: With restaurants forced to operate outdoors during the winter, 5-gallon propane tanks have become a necessity, leading to shortages. Associated Press
Tailwind: The massive stock market rally of 2021 is having a positive impact on fundraising for Opportunity Zone investments. Bloomberg
Drop in the Bucket: By this point in the last downturn, investors were able to pick up distressed assets. However, distressed sales currently only account for 1% of transactions. Globe Street
Chopped Shop: A real estate startup called Fabric has raised $136MM from venture capital to partner with retailers on last-mile distribution centers, often by repurposing former big-box stores or gyms. The Real Deal
Chart of the Day
I swear that my IQ drops every time that I see this chart.
Source: The Daily Shot
WTF
Cracked: A woman was arrested after trying to smuggle crack into a jail in her anal cavity because Florida. First Coast News
On Brand: The GM of the Mets was fired for sending dick pics to a reporter back when he was previously employed by the Cubs. ESPN
Big Time: A woman who was high on meth and claimed to own Google was arrested after assaulting a homeowner with a bottle of beans because Florida. Villages-News
Basis Points – A candid look at the economy, real estate, and other things sometimes related.
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