What I'm Reading Pendulum Swinging: Geopolitical stability and improvements in transportation and communications in recent decades allowed companies and countries to opt for what seemed to be the cheapest and easiest supply chain solutions rather than the most secure. Recent world events have revealed the risks of opting for inexpensive...
March 21st – Calm Before the (Next) Storm?
What I'm Reading Calm Before the (Next) Storm? In the first two months of 2022, the queue of ships waiting for Southern California berths fell, velocity of cargo moving through terminals increased and more boxes were unloaded at Southern California docks. However, part of the improvement may be due to...
March 17th – Up, Up and Away
What I'm Reading Up, Up and Away Part I: Demand for single-family rental homes is soaring, pushing prices to record highs, as Americans continue to want larger homes with outdoor spaces per the latest report from CoreLogic. Sunbelt cities like Miami and Phoenix are leading the charge. CNBC Up, Up...
March 14th – Back from the Dead
What I'm Reading Back From the Dead: Congress seems poised to revive the EB-5 visa program with higher minimum investments. The reinstated program will also aim to crack down on gerrymandering of high-unemployment areas into shapes that include more prosperous places, which allowed developers a loophole to use the program...
March 11th – Coming in Hot
What I'm Reading Coming in Hot: RV and boat storage remains in incredibly high demand. In 2021, consumers visiting Self Storage facilities websites managed by StoragePug were seeking out boat and RV parking at a whopping 250% higher rate than they did in 2020. (h/t Scott Ramser) Radius+ Combine this with...
March 10th – Riding the Wave
What I'm Reading Riding the Wave: Industrial supply is not likely to catch up with demand anytime soon, even as developers ramp up new construction. As a result, both rent and property values should continue to surge. Globe Street Much like what the market experienced during the pandemic, I expect...
March 9th – In the Cold
What I'm Reading In the Cold: US real estate investors like Hines and Morgan Stanley have ridden out ruble devaluations, financial crises and the economic sanctions that followed Russia’s 2014 annexation of Crimea to chalk up positive returns on their Russian real estate portfolios. Now they are facing calls to...
March 8th – Buyer’s Remorse?
What I'm Reading Buyer's Remorse? RV sales surged during the pandemic. Some new owners are finding vehicle upkeep to be more than they bargained for. USA Today $6 gasoline is only going to add to the buyer's remorse. This is a perfect illustration of why I've been far more bullish...
March 2nd – Paved Paradise
What I'm Reading Land Rush: The imminent rise of self driving trucks will fuel even more demand for outdoor industrial storage. (h/t Scott Ramser) Wall Street Journal IMO, this previously overlooked space is about to become a darling of the CRE investment world. Why? Demand will continue to increase due...
February 28th – Round Trip
What I'm Reading Round Trip: Mortgage rates are back to 2019 levels but prices are far above where they were in 2019. Calculated Risk IMO, the impact on stressed home affordability on rent growth is still being generally underestimated, despite the explosive growth over the past year or so. Pile...