What I'm Reading Down for the Count: Leisure travel has experienced a strong bounce back year in 2021. However, business travel is still struggling. Corporate, group, government, and other commercial travel – are expected to be down by $59 billion in 2021 from 2019, according to a report from the...
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...
March 4th – Balancing Act
What I'm Reading Balancing Act: With home prices up 14.8% YOY in January and mortgage rates rising of late as well, fewer households are able to qualify for a mortgage. The beneficiary of this will likely be rental housing, both apartments and SFR. Marcus and Millichap Leverage: The Massachusetts Superior...