What I’m Reading
Overreaction: The feared tsunami of evictions predicted when the Supreme Court struck down a federal ban on evictions in August has failed to materialize. In fact, the number of filings have dropped or remained flat since the decision. Washington Post It’s almost as if they relied on a small, experimental, self reported data set to drum up fear and get clicks or something…. IMO, we’d all be well to heed this advice whenever the the media starts going hyperbolic:
At this point if you take every widely publicized “tsunami” “wall” “cliff” and fade it hard, you’ll probably be right more often than not pic.twitter.com/Zxm5eboMP6
— EB (@EllliotttB) September 29, 2021
Shopping Spree: Big tech companies have used some of their unprecedented hoards of cash to buy up office and retail property in major coastal markets, securing desirable new locations. The corporate buying spree is helping prop up commercial real-estate markets at the same time many investors are shying away from office and retail buildings amid rising vacancy rates. Wall Street Journal
Long Runway: A new report by Yardi Matrix predicts that industrial demand will continue to boom through 2026, buoyed by strong – and increasingly online – retail sales, rising housing starts and personal income gains. Globe Street
Hedging: Costco is joining other large retailers like Home Depot and getting into the shipping business as a way to take control of its supply chain. The wholesale behemoth is renting three container ships and several thousand containers to shield itself from supply chain delays and rising costs. Business Insider
Soaring: The Case-Shiller National index was up a record 19.7% year-over-year in July. The month-over-month increase 1.55%; still historically high, but lower than the previous four months, perhaps a sign that price growth may be slowing – but certainly not reversing. Calculated Risk
Chart of the Day
The ratio of US household debt payments to disposable income is at all-time lows.
Source: Isabelnet
WTF
Quickie: A woman was arrested after being found naked and masturbating in back seat of Jeep in a car dealership lot because Florida. (h/t Adam Siegel) Yahoo News
Down the Hatch: A Chinese man allegedly died of a fatal gas buildup after chugging a 1.5 liter bottle of Coke to “stay hydrated” in hot weather. I, for one, am shocked that this didn’t turn out better. Daily Mail
Basis Points – A candid look at the economy, real estate, and other things sometimes related.
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