What I'm Reading Failure to Launch: Yesterday, the Supreme Court overturned the eviction ban in a 6-3 vote, as expected. New York Times The real story here should be how poor of a job we have been doing with rent relief. Only $4.7 billion of almost $47 billion appropriated by...
August 26th – On the Docket
What I'm Reading On the Docket: The Supreme Court could rule on the new CDC eviction ban as early as September. A majority of justices have questioned the constitutionality of the previous extension. However, the current iteration was crafted to address some of these concerns. Globe Street Topping Out? New...
August 25th – Back to the Future
What I'm Reading Back to the Future: With investors craving yield, Wall Street firms are once again diving into the private-label mortgage market, originating and packaging loans outside of the GSE framework. Despite the recent surge in volume, private level securitizations still make up a mere 4% of the market. ...
August 24th – Permanent Decline?
What I'm Reading Shots Fired: Green Street is predicting that office occupancy may never return to pre-pandemic heights and that office NOI will likely not outpace inflation over the next five years. Green Street is predicting a 15% reduction in office space demand in the US, a figure the firm...
August 23rd – Parched
What I'm Reading Parched: The federal government has declared a first-ever shortage on the Colorado River, announcing mandatory water cutbacks next year for Arizona, Nevada and Mexico. The river provides water to 40 million people and California could be impacted by 2024. This is going to have massive ramifications on...
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 13th – Beach Reads Week in Review
What I'm Reading Feeding Frenzy: Bidding wars are typical in for-sale housing during a tight market. Now we are seeing them for apartment rentals. CNBC A Tale of Two Markets: Big apartment landlords are thriving during the eviction moratorium while mom and pop owners of buildings with five or less...
August 6th – No End in Sight
Quick programming note: I'm going to be on a family vacation for the next couple of weeks so I won't be posting every day. I hope that all of you can find some time to get outside and enjoy the month of August! What I'm Reading No End in Sight:...
August 5th – Overreach
What I'm Reading Overreach: The Biden administration on Tuesday announced a new, targeted federal eviction ban to replace the one that expired over the weekend despite recently admitting that it had no legal standing to do so thanks to an earlier Supreme Court decision. Politico What strikes me as particularly...
August 4th – Help Wanted
What I'm Reading Help Wanted: Booming demand for warehouse space, bolstered by the record 423.7 million square feet of industrial property under completion this quarter, could lead to significant labor shortages in the near term. A new report from Newmark estimates that more than 280,000 additional warehouse workers will be...