What I’m Reading
Real Time: New tracking technology that allows landlords to dynamically set rental rates on a daily basis make multi-family a better inflation hedge than ever before. Globe Street
Christmas is Cancelled: In yet another blow to holiday mall traffic (and gig employment), mall Santa’s are likely to lose their gigs in first holiday season since the COVID-19 pandemic. USA Today
The Results Are In: The National Multifamily Housing Council (NMHC)’s Rent Payment Tracker found 90.6 percent of apartment households made a full or partial rent payment by October 20, down from 92.4% for the same time period in 2019 and up slightly from September. I want to point out once again that I’m both surprised and impressed that this metric has held up as well as it has after the expiration of enhanced unemployment benefits. NMHC
Upping The Game: RV resorts in the sunbelt that traditionally cater to snowbird retirees are upping their game in 2020 with new amenities. These parks are seeing a massive influx of new visitors and it isn’t just the blue-hair crowd since work from home has enabled younger professionals to hit the road and escape the cold. However, these new visitors demand amenities like wifi, business centers and co-working space and the parks that get on this trend earliest will reap the benefits. (h/t Taylor Grant) MotorHome
Evolution: As working from home becomes the norm, residential developers are trading movie rooms and lounges for TikTok studios, Zoom rooms and souped-up work spaces. Wall Street Journal
Invisible: The value of companies in the S&P 500 increasingly consists of intangible assets like algorithms, brands and lists over tangible ones like buildings and capital equipment. Bloomberg
Chart of the Day
Amazon’s dominance in the warehouse sector is eye-popping.
Source: Costar
WTF
Packing Heat: An Only Fans model protected her family and home in a gunfight with robbers because Florida. Local 10
Oh Deer: A woman was given two misdemeanor citations after her pet deer gored a neighbor who was walking her dog because Colorado. iHeartRADIO (h/t Steve Sims)
Basis Points – A candid look at the economy, real estate, and other things sometimes related.
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