What I’m Reading
Hot Spot: California investors typically account for 30% to 40% of transaction volumes in Arizona, but recently, that number has increased to 50% as capital from the Golden State flocks to more business friendly locales. Globe Street
Setting a Precedent: There are several shut-down generated lawsuits currently making their way through the court system that could have major implications on lease contracts in the US going forward. Real Estate Advisor Law Blog
Land Rush: Earlier this year, many home builders put their land acquisitions on hold. Now, they are selling homes at a blistering pace and running out of land inventory on which to build future projects. John Burns Real Estate Consulting
Strong Performer: One of the improbably pandemic winners thus far has been AirBnb. Earlier in the year, the home sharing platform underwent massive layoffs as demand dried up. However, business is now booming even as hotels continue to struggle as vacationers look for less crowded accommodations. Axios
Danger Zone: A Regus subsidiary that filed for bankruptcy in late August is a major tenant in buildings that make up a high concentration of several CMBS pools, leading to concerns about cash flow risk to bond holders. The Real Deal
Chart of the Day
Source: Wall Street Journal
WTF
Chlorinate the Gene Pool: A 10,000+ acre forest fire ignited in California when parents used pyrotechnics in a gender reveal gone horribly wrong. CNN The future parents will definitely be charged but given that this happened in California in 2020, it will most likely be with assuming an unborn child’s gender rather than actually setting the blaze. Either way, this is going to make a hell of a story for the kid’s 18th birthday – if the parents are out of prison by then.
Feeling the Urge: A woman was arrested on charges of theft and indecent exposure after she removed a sex toy from its packaging and began using it in the middle of an adult store because Florida. TC Palm
Basis Points – A candid look at the economy, real estate, and other things sometimes related.
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