What I’m Reading
Back From the Dead? Single room occupancy units, once a prominent feature of city life in America that cater to low income residents, have been largely zoned out of existence. Now, cities are taking another look at SROs as a revived source of low income housing. Governing
Low Hanging Fruit: PE firms have spent decades raising giant sums from pension funds and big institutions, raking $1.3 billion in 2021 alone. Now, PE is turning its sights on high net worth individuals as institutional investors have largely filled their allocations. Wall Street Journal
Slowdown: Rising interest rates are taking a toll on CRE investment sales as the bid / ask spread between buyers and sellers widens. Globe Street
Warning Shot: A new study by academics at New York University and Columbia predicts that office values in New York will drop by 28% by 2029. Bisnow
Rebirth: A startup called Filllogic is growing rapidly by converting underutilized spaces in retail centers into tech-enabled micr-distribution hubs. Industrial Distribution
Chart of the Day
This seems not good.
Source: Alpine Macro
WTF
If This Cars A Rockin: A 37 year old Arkansas man is in the news after saying that he regularly has sex with his 1998 Chevy Monte Carlo which he named “Chase.” NY Post
Basis Points – A candid look at the economy, real estate, and other things sometimes related.
Visit us at RanchHarbor.com