News

Landmark Links December 10th – Black Gold

Must Read: Urban parking lost were once considered an asphalt wasteland in the middle of cities.  However, as more downtowns transform, they are increasingly viewed as golden opportunities – some of the only undeveloped parcels left in prime markets.  As you can imagine, owners are cashing in. Economy Passed Up: US Wage growth has eclipsed […]

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Landmark Links December 6th – Runnin’ on Empty

Must Read: 2020 could see a drop in home sales, spurred by what will likely become the worst housing shortage in US history.  See Also: The outlook for investment in single-family rentals remains strong. Economy Eggs in One Basket: The robust health of the American consumer is almost single-handedly keeping the global economic expansion going.  […]

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Landmark Links December 3rd – Salt in the Wound

Must Read: High-tax state housing markets have not been hit as hard by capped SALT deductions as initially anticipated – mainly because the AMT didn’t allow affluent residents to use those deductions anyway.  However, there has still been an impact and Florida markets are still booming with wealthy new residents. Economy Holding Up: Eighteen states […]

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Landmark Links November 26th – Pay Up

Must Read: New federal regulations that took effect last week will nearly double the minimum dollar amount for foreign visa-seekers through the EB-5 program from $500k – $900k in addition to several other more stringent requirements.  This, coupled with weak demand from Chinese investors will likely result in substantially less utilization of the program in […]

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Landmark Links November 22nd – Piling On

Lead Story: Billionaire investor Carl Icahn has made a big bet against mall owners by buying credit default swaps based on the CMBX 6 index that has substantial exposure to mall debt.  Icahn has a pretty incredible track record – thus the title self-made billionaire.  However, there is a catch: while the macro thesis of the destruction […]

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Landmark Links November 19th – Waiting for the Pop

Must Read: Pop up stores are taking up some of the slack left by vacating traditional retailers and could end up being a viable replacement.  However, executing a pop up strategy requires a lot more management and a lot less certainty of cash flow.  See Also: There are signs that the bearishness in the retail sector […]

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Landmark Links November 15th – Deceptively Weak

Must Read: Looking simply at demographics, one might think that senior housing would be a major growth play in the US for many years.  However, the aging-in-place trend and major affordability issues make it very difficult to pin down demand.  See Also: Boomers want to stay home and technology is allowing them to do it.  […]

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Landmark Links November 12th – Hiding in Plain Sight

Must Read: Apple is the latest tech giant to commit billions in funding to counter California’s housing crisis.  However, what these investments fundamentally miss is that the problem holding housing back is not a lack of money but rather a lack of political will.  Perhaps the money would be better spent pushing political initiatives that would […]

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Landmark Links November 8th – WeBail

Must Read: SoftBank’s WeWork strategy consists mainly of holding on to top locations and shut down others. This is likely to leave a lot of landlords – many of which provided incentives like free rent and significant TI allowances – who leased to an SPE without a corporate guarantee from WeWork’s parent company out in […]

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Landmark Links November 5th – Anchored

Must Read: We often hear statistics about home supply expressed in months of inventory.  However, that statistic looks a whole lot worse – and perhaps a lot more telling when taking population into account.  Adjusted for population, the inventory of homes for sale is now near the lowest level in 37 years of record-keeping, according […]

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