News

Landmark Links October 29th – Fallout

Must Read: WeWork got its bailout but there are investors who may have substantial exposure to the flailing co-working company without knowing it: buyers of CMBS bonds that have a substantial number of WeWork buildings as collateral.  This has the makings of a brewing shitstorm – from Fortune (emphasis mine): During a review of Securities and […]

Read More

Landmark Links October 25th – WeWorked SoftBank

Feature: So, I woke up this morning determined to give something other than WeWork top billing on this blog.  However, the ongoing saga gets more absurd by the day and is frankly more interesting than anything going on in the business world right now so WeWork takes the top spot yet again. Just a few short […]

Read More

Landmark Links October 22nd – Circling the Drain

Must Read: WeWork is getting desperate and without billions of new dollars, will run out of money by as early as next month.  It looks as though the company prefers a $5 billion debt package with an interest rate of over 15% from JP Morgan over an equity package that would effectively take the company […]

Read More

Landmark Links October 18th – Crowded Out

Must Read:  Crowdfunding was once a darling of the startup space, but some early adopters have pivoted into other areas and VC backing has fizzled.  Here’s a snapshot at how ugly things have gotten for the once high-flying niche: Globally, venture capital for crowdfunding peaked in 2015 at about $76.4 million and plummeted to $25.7 million […]

Read More

Landmark Links October 15th – Last Line of Defense

Must Read: Amazon has taken a substantial lead in the last mile distribution race.  However, Walmart and Target have thousands of stores close to consumers that they are increasingly using as warehouses, posing the biggest threat that Amazon has faced to date.  The only way that the online juggernaut can maintain its position is through […]

Read More

Landmark Links October 11th – Unintended Consequences

Must Read: California Governor Gavin Newsom signed a rent control bill  into law earlier this week to try to stem the state’s rapid increase in housing costs.  This despite the fact that rent control is universally despised by economists across the political spectrum and almost never works in practice.  Right on cue, landlords are planning on […]

Read More

Landmark Links October 8th – Balancing Act

Must Read: Apartment construction was expected to peak in 2017/2017 but the market apparently didn’t get the memo.  Household formation continued to surge from 400k-500k per year at the bottom of the housing crash to 1.5MM per year today.  When for sale housing slowed in 2018, demand shifted toward multi-family.  As a result, apartment demand from […]

Read More

Landmark Links October 4th – Bargain Bin

Must Read: Mall investment sales volume is down.  However, while few class-A malls are trading hands, opportunistic investors are buying class-B and-C assets for redevelopment plays. Economy Stretched Out: About a third of auto loans for new vehicles taken in the first half of 2019 had terms of longer than six years. A decade ago, that number […]

Read More

Landmark Links October 1st – Down for the Count

Lead Story: Life comes at you fast.  I first posted about WeWork back in July of 2016 when the co-working giant had just been valued at a whopping (at the time) $16 billion. It stuck me as odd that a venture that had little to do with technology and with few barriers to entry could achieve that […]

Read More