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...
November 3rd – Bounce Back
What I’m Reading Bounce Back: Apartment demand rebounded strongly in the third quarter outside of high-priced gateway markets. The rebound helped to stabilize the multifamily market and prevented asking rents from declining as much as would have been expected considering the historic decline in economic performance in the second quarter. Yardi...
October 29th – Face Off
What I’m Reading Faceoff: Public employee unions (for) and commercial real estate companies (against) are spending a massive amount of money in the battle over prop 15, which would remove Prop 13 protections for most commercial real estate in California. The Sacramento Bee Lifeline: Oil demand is still struggling to recover during the...
October 27th – Stepping Down
What I’m Reading Stepping Down: One of the cornerstones of former VP Joe Biden’s tax plan is eliminating the inheritance of property at a stepped up basis. This could have substantial value implications for commercial real estate – especially if the eventual plan classifies death as an immediately taxable event –...