What I'm Reading Defying Gravity: Apartment leasing is typically a seasonal business, with demand cooling with the weather in the winter months. That has not been the case in 2021 and thus far in 2022. Both Q4 occupancy and January occupancy increased for the first time in history, according to...
February 4th – Road Block
What I'm Reading Roadblock: Demand for warehouses in the Inland Empire is massive, pushing new development further east. However, residents are not happy with having new industrial developments nearby and are pushing back hard, resulting in substantial delays or the outright withdrawal of applications. Globe Street This is great news...
February 3rd – Backlog
What I'm Reading Bursting at the Seams: As retailers and logistics companies try to stockpile goods to hedge against supply chain problems, they are facing a new challenge: In many parts of the United States, there is little to no space available to stash the merchandise. Logistics firms are finding...
February 2nd – Rush Hour
What I'm Reading Rush Hour: Buyers are scrambling to purchase homes while rates are still low. In the meantime, supply is down substantially. As a result, buying has become even more competitive, especially at lower price points leaving prospective homeowners stuck between soaring rents and unobtainable ownership. CNBC Widening Out:...
February 1st – Guessing Game
What I'm Reading Guessing Game: Pandemic uncertainty has made it extremely difficult for appraisers to assign values to office buildings. IMO, this will continue until the dust clears and the impact on demand from work from home can be fully quantified. Globe Street Windfall: Crypto whales are cashing out some...
January 31st – Breaking Point
What I'm Reading Coming Up Short: Two years after Apple, Google, and Meta vowed to spend $4.5 billion to create more than 40,000 new homes in their home state of California, they’ve accomplished a fraction of that goal. The Real Deal Turns out that all the cash in the world...
January 28th – The Great American Camp Out
What I'm Reading The Great American Camp Out: Results for the RV Industry Association’s December 2021 survey of manufacturers determined that total RV shipments for 2021 ended with a record 600,240 wholesale shipments, surpassing the 2017 total of 504,599 shipments by 19%. Total RV shipments for 2021 increased 39.5% over...
January 27th – Risky Business
What I'm Reading Risky Business: With interest rates rising, and property prices at all time highs, Canadian homeowners are increasingly turning to variable rate mortgages as a lower cost alternative. Variable rate mortgages, which offer a substantially lower initial payment now make up over half of all new home loans...
January 26th – Blood in the Water
What I'm Reading Material Shortfall: Dealers in John Burns’ building products survey appear to be planning and buying inventory based on an inaccurate expectation of growth in 2022. If the results of the survey turn out to be accurate, materials companies are underestimating demand, which will cause more shortages and...
January 25th – Up and To The Right
What I'm Reading Up And To The Right: Average monthly listed rents in the US increased 14.1% year over year, according to a report issued by real estate brokerage firm Redfin. Meanwhile, the national monthly mortgage payment for homebuyers climbed 21.6% year over year, also the biggest increase in Redfin’s...