What I’m Reading
Nudge: Steeper borrowing rates and high prices in the housing market are leading many buyers to give up. That is welcome news for owners of single-family rental homes. Wall Street Journal
Moment of Truth: A recession will either be the catalyst that forces employees back to the office or solidify remote work once and for all. Market Watch
Popularity Contest: American workers overwhelmingly favor remote work, according to a new survey from McKinsey. McKinsey
Pencils Down: New housing development in San Francisco was never exactly booming. Today is has slowed to almost nothing thanks to soaring costs, leaving Mayor London Breed to consider reducing affordable requirements or deferring fees. San Francisco Chronicle
Sleight of Hand: Reluctant to raise prices, refusing to sacrifice profits, travel companies, retailers and restaurateurs are cutting corners wherever they can, usually without telling their customers. The Guardian
Chart of the Day
China to North America West Coast spot rates are on a slingshot back towards pre-COVID levels. Nature is healing.
Source: FreightWaves
WTF
Noah’s Ark: 109 live animals were found in a woman’s luggage in Thailand. (h/t Nicole Deermount) CBS News
Spotem Gottem: A rapper was arrested by police following a high speed jet ski chase because Florida. (h/t Steve Sims) Fox 13
Basis Points – A candid look at the economy, real estate, and other things sometimes related.
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