What I'm Reading Shots Fired: Green Street is predicting that office occupancy may never return to pre-pandemic heights and that office NOI will likely not outpace inflation over the next five years. Green Street is predicting a 15% reduction in office space demand in the US, a figure the firm...
August 13th – Beach Reads Week in Review
What I'm Reading Feeding Frenzy: Bidding wars are typical in for-sale housing during a tight market. Now we are seeing them for apartment rentals. CNBC A Tale of Two Markets: Big apartment landlords are thriving during the eviction moratorium while mom and pop owners of buildings with five or less...
August 6th – No End in Sight
Quick programming note: I'm going to be on a family vacation for the next couple of weeks so I won't be posting every day. I hope that all of you can find some time to get outside and enjoy the month of August! What I'm Reading No End in Sight:...
August 4th – Help Wanted
What I'm Reading Help Wanted: Booming demand for warehouse space, bolstered by the record 423.7 million square feet of industrial property under completion this quarter, could lead to significant labor shortages in the near term. A new report from Newmark estimates that more than 280,000 additional warehouse workers will be...
July 30th – Hitting the Brakes
What I'm Reading Hitting the Brakes: The CDC has reversed course on indoor masking, saying that vaccinated Americans should once again wear masks indoors. The announcement complicates return-to-office plans for many companies at a time the Delta variant is already forcing some of them to push back their start dates....
July 29th -Open Field
What I'm Reading Open Field: Startups in smaller MSAs are facing competition from large Silicon Valley competitors when it comes to hiring employees: Some of the biggest names in tech aren’t just allowing existing workers to relocate out of the Bay Area, they are also starting to hire in places...
July 28th – Sitting it Out
What I'm Reading Sitting it Out: Foreign purchases of U.S. residential real estate were down 27% in the year ended in March, a new low since the end of the Great Recession. As insane as the housing market has been, the boom has taken place with little foreign interest compared...
July 27th – Mismatch
What I'm Reading Mismatch: Most of the US is simultaneously experiencing a severe housing shortage and an office glut. Conventional wisdom suggests that vacant office buildings could be converted to residential uses. However, the bureaucratic processes are difficult, the conversions are typically too costly and office floorplates don't translate well...
July 26th – Front Row
What I'm Reading Front Row: As boat sales continue to soar and manufacturer backlogs grow, waterfront homes with private docks are becoming even more valuable. In other related news, its a great time to own boat storage facilities and non-seasonal marinas. Wall Street Journal Sweet Spot: NMHC's July Apartment Market...
July 21st – Legal Remedy
What I'm Reading Roll the Dice: Escalating material prices have made it challenging for contractors and manufacturers to bid on jobs, with owners sometime finding themselves paying out of pocket to cover overruns. Wall Street Journal Opt Out: Some workers are beginning to look for legal remedies that allow them...