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:...
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 23rd – Drying Out
What I'm Reading Drying Out: The western mega-drought is forcing cities with water shortages to issue building moratoriums. Ironically, many of the areas hardest hit by the the drought are also experiencing the largest housing and population booms. The forced shutdown of development will force even more people into the...
July 22nd – Turning Japanese
What I'm Reading Turning Japanese: Not that long ago, global overpopulation was a popular fear. That is no longer the case and global birth trends point towards the opposite, especially in the developed world. The long term aging trend will have many implications, not the least of which is deflationary...
June 29th – Fuel on the Fire
What I'm Reading Fuel on the Fire: Every $1 billion in additional e-commerce sales requires 1 million square feet of new warehouse space to support it. Using this calculation as a baseline, the US will need 330 million square feet of new space by 2025 just to keep up with...
May 26th – Piling On
What I'm Reading Piling On: The US Commerce Department has made a recommendation to more than double tariffs on Canadian softwood lumber in the midst of a housing affordability crisis that has been driven in part by soaring building costs. If the Biden Administration wanted to make the crisis worse,...
May 14th – Safe Haven
What I'm Reading Safe Haven: Capital is flooding into Opportunity Zones as other traditional real estate tax advantages come under fire from the Biden Administration. At the moment, it looks like any revisions to the program will be minor, making it relatively more attractive to investors in the event that...
May 7th – All Aboard
What I'm Reading Jumping on Board: When the pandemic hit last year, many of us waited for legendary distressed investor and self-proclaimed "grave dancer" Sam Zell to make an acquisition. Well, the wait is over but the acquisition is unexpected. Rather than targeting a struggling retail, hospitality or office purchase,...
May 4th – Deep Freeze
What I'm Reading Deep Freeze: If the Biden tax plan is passed in its entirety, it would likely result in an initial rush to sell properties most impacted before the changes take effect, followed by a substantial drop in the number of property sales and less market liquidity. Commercial Property...
March 11th – Bailed Out
What I'm Reading Bailed Out: The latest round of federal stimulus will provide San Francisco with about $600MM over the next two years, wiping out the vast majority of its $650MM budget deficit and likely sparing it from substantial budget cuts. This was always the bullish case for blue cities...