What I'm Reading Pacman: BREIT is buying another giant operating platform. This time, its industrial investor PS Business Parks, which will be purchased for $7.6 billion. Business Wire Permanent capital continues to eat the (commercial real estate) world. Race to the Bottom: Companies keep paring down their demands for days...
April 25th – Warning Sign
What I'm Reading Warning Sign: China's property market accounts for a massive % of global commodity consumption. Chinese housing starts have now fallen 17% or more for three consecutive quarters. Looks like a commodity downturn could be in the cards. Financial Times Mean Reversion: Soaring mortgage rates have resulted in...
October 4th – No Takers
What I'm Reading No Takers: Spurred on by the Biden Administration, the Port of Long Beach began offering a pilot program offering 24-hour container operations over two weeks ago. To date, not a single trucker has taken advantage of it. The reason? Burdensome requirements (of course). Wall Street Journal On...