What I'm Reading Tis the Season: Apartment rents fell in more than half of the nation’s major markets this month, suggesting a widespread cooldown in a market that’s been buoyed by pandemic-driven shifts in consumer preferences. Apartment List To put this move in context a bit, rents typically follow a seasonal...
November 5th – Danger Zone
What I'm Reading Leverage: Just when you thought that the situation at west coast ports couldn't possibly get worse, contracts for 15,000 west coast dockworker union members are due to expire on July 1, 2022. Obviously, this situation gives the union a ton of negotiating leverage. As a point of...
October 22nd – Turning Point
What I'm Reading Turning Point: Amazon has dominated the industrial leasing market, sending prices soaring. However, the ecommerce giant is now beginning to pivot away from leasing towards buying and developing its own facilities. Bisnow Will be interesting to watch how this plays out as a competitor with zero capital...
October 14th – Long Shot
What I'm Reading Long Shot: Zelman and Associates released a contrarian residential market call, claiming that today's tight housing market is already getting overbuilt thanks to the downward trajectory of population growth per the 2020 Census. CNBC Other analysts, like Jay Parsons of RealPage were quick to jump on this...
October 13th – We’re Number One
What I'm Reading We're Number 1: Money laundering is a problem across the economy but nowhere is it more prevalent than in the real estate - especially in the US. Miami Herald Less for More: While many companies have responded to supply chain shortages and wage inflation by raising prices,...
October 5th – Honey Badger
What I'm Reading Staying Remote: PriceWaterhouseCoopers is freeing the entirety of its U.S. workforce to work remotely full-time, a decision that will impact 40,000 client services workers. The Real Deal In response, the CMBS markets did their best honey badger impression. Will be interesting to watch this one play out: ...
September 13th – Safe Harbor
What I'm Reading Safe Harbor: There is a growing interest in marina investment where cap rates have stayed relatively constant over the past year while demand for slip space has soared along with new boat sales. This fits in nicely with RanchHarbor's thesis that real estate used to store discretionary...
September 3rd – More Help Wanted
What I'm Reading Help Wanted: Labor shortages are helping to keep more homes from being built, making housing even less affordable. The problem does not appear to be going away anytime soon. The Economist Surprising Result: About half of US states ended enhanced federal unemployment benefits early. So far, they...
August 27th – Failure to Launch
What I'm Reading Failure to Launch: Yesterday, the Supreme Court overturned the eviction ban in a 6-3 vote, as expected. New York Times The real story here should be how poor of a job we have been doing with rent relief. Only $4.7 billion of almost $47 billion appropriated by...
August 24th – Permanent Decline?
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...