What I’m Reading
Whack a Mole: Americans moved around a lot over the past two years, and the destinations they moved to most also now happen to have the highest inflation rates in the U.S per new research from Redfin. Conversely, places like San Francisco that people left tend to have lower inflation. Redfin
Dumpster Diving: Some investors are dipping their toes into the Class B mall space and looking to pick up and reposition overleveraged properties that certainly aren’t thriving but aren’t dying either. Bisnow
Big Flex: Traffic is up at co-working locations as startups look for flexibility and low commitment in a time of market turbulence. New York Times
Vibe Shift: Higher mortgage rates are having an impact on the US housing market. Inventory is increasing, especially in the hottest markets which will eventually lead to prices leveling off. The Atlantic
Size Matters: Increasingly larger container ships have allowed for more cargo efficiency. At the same time, they’ve helped turn shipping into an oligopoly, contributed greatly to port congestion and allowed for less shipper flexibility in periods of low demand. Freight Waves
Chart of the Day
The rapid increase in mortgage rates is finally starting to take a toll on housing demand.
Source: The Daily Shot
WTF
Schooled: A six-foot long alligator that showed up at a school and blocked the entrance was captured and relocated by police because Florida. NY Post
Monkey Business: A Texas woman who lost her job at a law firm after going viral for jumping into the monkey enclosure at the El Paso zoo and feeding the animals Red Hot Cheetos claims that she did nothing wrong. ABC 7
Basis Points – A candid look at the economy, real estate, and other things sometimes related.
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