What I’m Reading Ultimatum: In another sign that flexible work arrangements will become a job perk, twenty-nine percent of working professionals say they would quit their jobs if they couldn’t continue working remotely, according to an online survey of 1,022 professionals by LiveCareer, an online resume and job search consulting...
January 6th – No Going Back
What I’m Reading No Going Back: The pandemic has has accelerated the adoption of data access as an essential CRE technology. At this point, it is no longer just a pandemic solution and is here to stay. Globe Street Priced Out: Despite record low mortgage rates, the spike in housing prices last year...
January 4th – Blurred Lines
What I’m Reading Blurred Lines: States are facing off in a high-stakes legal battle over who is entitled to income taxes on remote workers when one is employed by a company in one state but resides in another. The results of this high-stakes legal battle will have a profound impact on...
December 21st – Temporary Move?
What I’m Reading Temporary Solution: The number of renters seeking short term (less than 6 month) lease arrangements when moving to new cities is way up this year. This suggests that the move away from urban markets may be more temporary than thought. Apartment List Sweet Spot: Pent up demand, healthy...
December 18th – The Great Mirage
One Big Thing Jonathan Litt of hedge fund Land and Buildings is predicting that next year will see a bounce back in the performance of pandemic-impacted real estate but that it will ultimately prove to be a mirage as secular headwinds turn against these market segments (emphasis mine): The Vaccine...
December 17th – Flotation Aid
One Big Thing In the first week of December, the proportion of mortgage borrowers that sought forbearance rose to its highest level since August. Delinquencies are climbing as well, as some borrowers are either not eligible for forbearance or are still unaware that they may be eligible. NREI Reading the paragraph...
December 14th – Unlocked
What I’m Reading Unlocked: Increased adoption of remote work has enabled high earners to move to lower tax states like never before. At some point high tax cities and states are going to have to acknowledge that the conditions that allowed them to increase rates – namely the requirement of proximity...
December 9th – Balancing Act
One Big Thing California’s eviction moratorium is scheduled to expire in early February. A new assembly bill is seeking to extend it through the end of 2021. Concurrently another assembly bill is attempting to establish a framework for dispersing rental relief. (h/t Steve Sims) Connect Media Two comments here: While I’m...
December 7th – Behind the Curve
What I’m Reading Behind the Curve: As expected, eCommerce orders surged to previously unseen levels this Black Friday and Cyber Monday. It got to the point that UPS put limits on pickups at several large retailers in an effort to not overwhelm their systems, despite knowing that this was coming. Wall Street...
December 3rd – Emptied Out
What I’m Reading Emptied Out: In 2011, US department stores employed 1.2 million employees across 8,600 stores, according to estimates from the research firm IBISWorld. But in 2020, there are now fewer than 700,000 employees in the sector, working across just over 6,000 locations. Vox Comeback Kid: The fact that AirBnb is about...