Landmark Links January 21st – Unexpected Winner

Must Read: Grocery store-anchored or not, well-located strip shopping centers are outshining malls due to their appeal for proximity and convenience.


Pushing on a String: Central banks have long been the unchallenged drivers of financial markets and the business cycle.  However, with interest rates stuck around zero or even negative, they are losing their primary lever, putting more onus on elected officials.  See Also: Pension plans are the biggest loser in a perpetual monetary easing environment.

Long Way Down: A look at historical interest rates shows that they have actually been falling for centuries, albeit with some substantial upwards spikes.


Never Ending Saga: Treasury has released “final” guidance on Opportunity Zones.  However, the rules surrounding treatment of NNN leases and transfers of property into a fund are still ambiguous and will have to be sorted out by legal and tax professionals.  See Also: The Treasury Department’s watchdog is now looking into the Opportunity Zone program thanks to allegations of political favors.

Competitive Edge: In today’s retail world, properties need to be really easy or really fun. Customers need to either be able to get in and get out; or have a reason to stay.  Properties that are neither stand little chance against eCommerce.


Not Making A Dent: Nearly a decade ago, three mega-projects totaling 25,700 units were approved in the Bay Area.  Today, only 350 homes have been built in these projects thanks to a complex web of bureaucracy, environmental issues and onerous requirements that often weigh on profitability.

Surge: After falling off over the past couple of years, new apartment completions are about to surge in 2020 and as much as 80% of that surge will come in the luxury segment thanks largely to high land prices and construction costs.


Open Sourced: How the internet helped crack the Astros’ sign-stealing case.

How Times Have Changed: Since the 1970s Silicon Valley’s mantra when it comes to tech companies was that small was beautiful.  However, today that mantra has changed and a handful of mega-companies dominate the region.  The result has been a decline in innovation.

Giveaway: eCommerce mattress company Casper filed to go public and its S1 showed that it would have a more viable business model by giving the mattresses away and including $300 cash with each.

Chart of the Day

That’s quite a spike.

Source: The Daily Shot


Frivolous: A deaf man is suing Pornhub under the ADA statute for not adding closed captioning to their videos because everyone carefully follows the dialogue when watching porn.

Where Did That Come From? A man who was arrested and found to have cocaine in his hat claimed that it wasn’t his because Florida.

Explosive: A man who found a WWII grenade while magnet fishing brought it to Taco Bell because Florida.

Landmark Links – A candid look at the economy, real estate, and other things sometimes related.

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