What I'm Reading Prophecy: Starting back in the summer of 2020, whenever people ask me what I think will end the market mania, my (somewhat tongue in cheek) answer has been that the market top will occur once WeWork is taken public via a special purpose acquisition company (SPAC) merger. ...
January 27th – Long Road Back
What I'm Reading Long Road Back: COVID-19 has resulted in a near-total halt in business travel. Beyond the blows to airlines, hotels, travel agents and rental-car companies, the sharp drop in business travel is rippling through whole ecosystems of related commerce, including airport shops, downtown bars and restaurants, construction companies...
January 26th – Deep Hole
What I'm Reading Deep Hole: Nearly 20% of American renters are behind on payments. The typical delinquent renter now owes $5,600, being nearly four months behind on their monthly payment, includes utilities and late fees according to a new analysis from Mark Zandi, chief economist at Moody’s Analytics, and Jim...
January 19th – Mismatch
What I'm Reading Mismatch: Residential development is booming and unemployment is relatively high, yet home builders are still experiencing a labor shortage. This is due to both a stigma about working in construction (even though it often pays more than some office jobs) and a lack of workers who have...
January 14th – Fire Sale?
What I'm Reading Sale of the Century? Some publicly traded REITs are taking advantage of their shares trading at a discount to net asset value and buying their own shares. The private market premium is pervasive and has sparked debate over whether REITs are undervalued, private markets are overvalued or somewhere...
January 13th – Digging Deeper
What I’m Reading Digging Deeper: Last week’s jobs report was ugly on the surface. However, if you look deeper past the temporary losses, it was actually fairly strong given the circumstances and reveals the underlying resilience of the economy. Tim Duy’s Fed Watch Inflection Point: With a vaccination-fueled economic turnaround expected to begin...
January 8th – Ultimatum
What I’m Reading Ultimatum: In another sign that flexible work arrangements will become a job perk, twenty-nine percent of working professionals say they would quit their jobs if they couldn’t continue working remotely, according to an online survey of 1,022 professionals by LiveCareer, an online resume and job search consulting...
January 5th – Unmasked
What I’m Reading Unmasked: The Corporate Transparency Act, which was tacked onto a defense bill, would require corporations and limited liability companies established in the United States to disclose their real owners to the Treasury Department, making it harder for criminals to anonymously launder money or evade taxes. The rule applies...
January 4th – Blurred Lines
What I’m Reading Blurred Lines: States are facing off in a high-stakes legal battle over who is entitled to income taxes on remote workers when one is employed by a company in one state but resides in another. The results of this high-stakes legal battle will have a profound impact on...
December 21st – Temporary Move?
What I’m Reading Temporary Solution: The number of renters seeking short term (less than 6 month) lease arrangements when moving to new cities is way up this year. This suggests that the move away from urban markets may be more temporary than thought. Apartment List Sweet Spot: Pent up demand, healthy...