What I'm Reading Doubling Up: Demand for flexible warehouse space continues to increase and some property owners are taking advantage with co-warehousing options. Think WeWork, but for warehouses. Wealth Management Over the Falls: New home sales continue to fall sharply while prices for new and existing homes continue to increase...
July 26th – Cornered
What I'm Reading No Easy Way Out: Builders are slamming on the brakes as home sales slow in light of extremely strained affordability. However, demand turns much quicker than supply and today's stoppage in production will likely sew the seeds of tomorrow's even more pronounced shortage. New York Times Pivot:...
July 25th – Levelling Off?
What I'm Reading Topping Out: Active housing inventory for sale is up 29% year over year. However, it has been sitting at this level for three weeks now after soaring earlier in the year. Per Bill McBride: "This might be noise, or it might suggest a slowdown in inventory increases."...
July 21st – Tipping Point?
What I'm Reading Tipping Point? Industrial developers are delivering nearly 700m sf of warehouses across the US following two years of record absorption. Tenant demand remains incredibly strong. However, with a recession likely coming, there is an increasing risk of overbuilding in some markets. Bisnow Hitting Pause: Amazon has been...
July 20th – Bad Vibes
What I'm Reading Bad Vibes: Homebuilder sentiment dropped 12 points to 55, according to a monthly survey from the National Association of Home Builders, the largest drop in the survey's 37-year history with the exception of April 2020. Sentiment is also declining at a far faster rate than it did...
July 19th – Head for the Border
What I'm Reading Head for the Border: Onshoring and nearshoring production trends will increase emphasis on logistics facilities near border locations and intermodal hubs with sizable rail and road infrastructures. San Diego, Detroit and San Antonio could emerge as winners as well as several Atlantic coast port cities. Globe Street...
July 18th – Contagion
What I'm Reading Contagion: The housing affordability crisis used to be a coastal, blue state issue. It has now gone nationwide. New York Times When it Rains, It Pours: America is facing the twin threats of rail and trucker strikes just as signs emerge that its ports on both coasts...
July 14th – No Shelter
What I'm Reading Walk Out: Some California truckers who move containers in and out of the marine terminals at the ports of Los Angeles and Long Beach say they plan to participate in a work stoppage Wednesday to protest a controversial state law, AB5, that seeks to limit the use...
July 1st – Scaling Back
What I'm Reading Scaling Back: As prices climb on restaurant menus and grocery-store shelves, some packaged-food makers see more Americans making meals at home to save money, while restaurant operators are changing their offerings to cope with increasingly price conscious consumers. Wall Street Journal Taking a Toll: Higher mortgage rates...
June 30th – Nudge
What I'm Reading Boxed In: Steeper borrowing rates and high prices in the housing market are leading many buyers to give up. That is welcome news for owners of single-family rental homes. Wall Street Journal Moment of Truth: A recession will either be the catalyst that forces employees back to...