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 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 13th – Stand Off
What I'm Reading Stand Off: The industrial market remains extremely tight when it comes to occupancy and rent growth. However, transactions are slowing as the bid-ask spread between buyer and seller rise. Globe Street Haves and Have Nots: Remote work may be great for long time employees but it has...
June 16th – The Hangover
What I'm Reading The Hangover: California has a near-$100 billion budget surplus thanks to booming asset prices leading to a capital gains windfall. As usual, politicians in Sacramento are fighting over how to spend the money quickly by establishing new social programs or funding large one-time expenditures. However, with asset...
April 21st – Back to School
What I'm Reading Boomtown: A massive population influx has set off a boom in South Florida's industrial market. With low vacancies, scarce land and continued population and economic growth, its likely to continue. Wealthmanagement.com Back to School: BREIT's insatiable appetite continues with its just-announced purchase of student housing REIT American...
March 3rd – Beware the Ides of March
What I'm Reading Beware the Ides of March: With omicron cases falling, major employers say they spot a window to bring workers back to the office. However, with a tight job market, the question becomes whether or not employees are willing. Wall Street Journal Embedded: Russian oligarchs have spent decades...
February 16th – Got Ya Covered
What I'm Reading Got You Covered: As commercial real estate lenders and investors eye new yield opportunities, the industrial outdoor storage (IOS) sector has emerged as an asset class with large-scale, long-term growth potential. Commercial Observer The Big Short: Wall Street investment firms are buying up more vacation homes, aiming...
January 14th – Locked Down
What I'm Reading Locked Down: With Covid-19 flaring up across China, major manufacturers are shutting factories, ports are clogging up and workers are in short supply as officials impose city lockdowns and mass testing on a scale unseen in nearly two years. There have even been rumors of a potential...
December 7th – Help Wanted
What I'm Reading Help Wanted: The construction industry is 2.2 million skilled workers short of what is needed to keep up with demand. Floor Daily I'm sure that a trillion dollars or so of infrastructure spending injected into this environment will have a positive impact...... Taking Control: Amazon has taken...