Your Daily Digest for Real Estate Investing, 9/29/21
The pandemic is easing here, but a global supply bottleneck threatens; upcoming recovery in home sales; Californian companies save themselves, many to Texas; a look at a promising REIT from Sam Zell.
In today’s news
The recovery from COVID-19 in the US is spreading, while the outlook is improving in 47 states
The U.S. recovery from the recent wave of COVID-19 is gaining traction across the country, with cases declining or beginning to fall in the vast majority of states, Bloomberg reports today [subscription required].
The Millionacres Takeaway: That can’t happen soon enough. For so many reasons. See below.
Workers who keep global supply chains moving warn of “system collapse”
In an open letter to the heads of state at the United Nations General Assembly today, the International Chamber of Shipping (ICS) and other industry groups warned of a “collapse of the global transport system” if governments fail to restore the free movement of transport workers and they have priority, recognized by the World Health Organization Getting vaccines, reports CNN.
The Millionacres Take Away: It seems like there’s a new shortage every day. And you can now color the materials that are scarce for contractors. But a total system breakdown? That sounds pretty disastrous.
Outstanding property sales recover in August
The National Association of Realtors (NAR) reported today that pending home sales rebounded in August, seeing significant gains after two months of decline.
The Millionacres Takeaway: Cooling price hikes and rising inventories help bring buyers back to market, but affordability remains an issue.
Today on Millionacres
California, let’s go: This think tank explains where and why
Researchers at a Stanford University think tank have recorded a growing exodus from California corporate headquarters. And they say the Lone Star State is the main beneficiary of this drain of intelligence, high salaries, and potentially transformative businesses.
The Millionacres To Take Away: The Hoover Institution’s Perspective May Open Your Eyes. The economic factors mentioned therein – plus forest fires and drought – make this a difficult time for a state with an economy larger than many nations.
Why you should stock up on Equity Commonwealth
Legendary real estate investor Sam Zell has made it clear that he wants to build a base in the industrial real estate sector with Equity Commonwealth (NYSE: EQC). While he strikes on his first try, his company has tremendous financial flexibility to do business with.
The Millionacres Takeaway: Our Matthew DiLallo explains why now is a good time to consider stockpiling before Zell’s team begins building their next major real estate investment trust (REIT) platform.
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