Your daily summary for real estate investing, 09/29/21
The pandemic is easing here, but the global supply bottleneck threatens; pending the rebound in home sales; Californian companies bail out, many in Texas; a look at a promising REIT led by Sam Zell.
In the news of the day
Recovery in the United States from the latest wave of COVID-19 is taking hold across the country, with cases declining or about to start declining in the vast majority of states, Bloomberg reports today [subscription required].
The Millionacres takeaway: It cannot happen soon enough. For so many reasons. See below.
In a open letter today to heads of state at the UN General Assembly, the International Chamber of Shipping (ICS) and other industry groups warned of a “collapse of the global transport system” if Governments are not restoring the freedom of movement of transport workers and are not giving them priority to receive vaccines recognized by the World Health Organization, reports CNN.
The Millionacres takeaway: Seems like every day there is a word of another shortage. And you can now add paint shortage of materials for contractors. But a total collapse of the system? It sounds pretty cataclysmic.
The National Association of Realtors (NAR) reported today that pending house sale rebounded in August, registering strong gains after two months of decline.
Today on Millionacres
Researchers at a Stanford University think tank have chronicled a growing exodus of corporate headquarters from California. And they say the Lone Star State is the biggest beneficiary of this brain drain, big paychecks, and potentially transformational businesses.
The Millionacres takeaway: The Hoover Institution’s perspective can be revealing. The economic factors he cites – more Forest fires and Drought – make this period a challenge for a State whose economy is larger than that of many countries.
Legendary real estate investor Sam Zell made it clear that he plans to use Commonwealth equity (NYSE: EQC) to build a base in the industrial real estate sector. While he wrote off on his first attempt, his company has enormous financial flexibility to make deals.
The Millionacres takeaway: Our Matthew DiLallo explains why now is the time to consider stocking up on action before Zell’s team start building their next big. confidence in real estate investment (FPI).
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