What I’m Reading
Target Rich Environment: Commercial real estate firms are ripe targets for ransomware attacks similar to the ones that Colonial Pipeline and meatpacker JBS Foods fell victim to earlier this year. We are about to enter a bull market for cybersecurity experts in the industry. Globe Street
Diamond Hands: Baby Boomers hold the lion’s share of real estate wealth in the United States and are showing a higher inclination than previous generations to age in place rather than moving to assisted living. The result has been less housing supply for subsequent generations. New York Times
Reprieve: Homebuyers are finally catching a break as new listings rise and mortgage rates drop. CNBC
Uneven Playing Field: As employees return to the office nationwide, those who continue to work from home may find themselves at a competitive disadvantage versus those who are in front of their colleagues on a regular basis. Anyone who has ever been a relatively junior employee in a satellite office has probably experienced this issue. Wall Street Journal
Boom: A CBRE analysis found that from January through May, warehouse first-year base rents on leases of a year or more rose by 9.7 percent year-over-year. Large warehouses have seen even sharper rent growth — 13.2 percent for leases of 500,000 square feet or more and 11.6 percent for those between 100,000 and 499,999. The Real Deal
Chart of the Day
Have heard some folks say that tapering will result in higher 10 year bond yields. History begs to differ.
Source: Longview Economics
WTF
Were They Not Entertained? An London library is in hot water for inviting an actor in a rainbow monkey costume with a fake penis and bare butt to host an event encouraging children to read. Indy 100
Paging Mr. Darwin: A lightning strike killed 18 people when a bolt blasted a watchtower where tourists were snapping storm selfies in India. (h/t Steve Sims) New York Post
Basis Points – A candid look at the economy, real estate, and other things sometimes related.
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