What I’m Reading
Strong Arm: Retailers are using Chapter 11 bankruptcy to reject leases, giving them the upper hand over landlords and putting property owners at risk of defaulting on their mortgages.
Butterfly Effect: Just a small change in the way that we work has massive second and third order impacts on communities and ultimately the country as a whole.
Multi-Purpose: Housing is being utilized like never before when you take into account that homes are now a residence, office, gym and classroom. Between the above and rising values, it may currently offer the best returns of any asset class.
Backslide: About 57% of workers, or about 140,000 people, who filed for unemployment benefits in California recently had their jobs or hours cut for a second time, illustrating how fickle labor markets currently are.
Water, Water Everywhere…: It’s never been cheaper to borrow money in order to buy a home. It’s also never been harder to find a home to buy thanks to incredibly low inventory.
Frustration of Purpose: A lawsuit and counter suit between Brookfield and Gap could set a president on the legal question of whether or not retailers have to pay contractual rent if they are not allowed to open.
Swelling: A surge of imports that began in June thanks largely to inventory replenishing, coupled with sporadic labor shortages, and difficulties returning empty containers to ports is causing the already drum-tight California warehouse market to get even tighter. (h/t C.J. Collins)
Chart of the Day
Low gas prices mean that people are buying a lot of SUVs and trucks.
Source: Calculated Risk
Eat Your Greens: Texas- Border Patrol agents at the Pharr International Bridge cargo facility found $16,094,000 worth of meth in a commercial trailer hauling a shipment of fresh broccoli.
Extra Fiber: A 6 year old girl nearly choked on a face mask that had been cooked into a Chicken McNugget. After further testing, it was determined that the face mask was, in fact the healthiest item in the entire Happy Meal.
Landmark Links – A candid look at the economy, real estate, and other things sometimes related.
Visit us at Landmarklc.com