What I'm Reading Substitution Effect: Construction material shortages are forcing homebuilders and contractors to turn to substitutes and hunt for alternative suppliers as they rush to meet high demand for new housing. However, its a double-edged sword and swapping out materials to minimize delays can add to costs. Wall Street...
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 10th – Putting This to Bed
What I'm Reading Putting This to Bed: In total, 1 million forbearance plans will expire between now and the end of 2021. There is a vocal contingent that has been predicting a wave of foreclosures for months. However, I am virtually certain that this won't happen as almost all of...
September 9th – Back to School
What I'm Reading Back to School: COVID caused slowing of new supply in the student housing market, helping to stabilize rents. Now that class is back in session, some of the world's largest property investors are pumping billions of dollars into buying and developing off-campus housing. (h/t Mike Deermount) Wall...
September 2nd – Exodus
What I'm Reading Exodus: More California companies have already moved their headquarters out of the state this year than in all of 2020. While businesses often attribute their California exit to regulations like high taxes and increasing utility costs, other reasons may sound similar to individuals leaving the state, such...
August 20th – Lake Reads Week in Review
What I'm Reading Flipped: Some of the most affordable rental markets in the US are about on pace to become some of the most expensive thanks to skyrocketing rents. This will eventually become a headwind to economic growth as residents in some of the most productive and quickly-growing cities will...
August 2nd – Bid Em Up
What I'm Reading Bid Em Up: A new report from real estate technology company Zavvie on iBuying transactions over the first half of 2021 found that offers from iBuyers were on average 104.1 percent of market value. That’s a marked increase from 2020, when iBuyers offers were coming in at...
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 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...