Must Read: The long-awaited Sears bankruptcy filing is now officially upon us as the dying retailer filed for Chapter 11 this weekend in an attempt to avoid liquidation. Of course, more stores will be shuttered which will lead to even greater vacancy in malls. Sears’ exit could be the final nail in the coffin for mall landlords in economically depressed regions that were already struggling. However, most indications are that the top mall operators in the country can’t wait to see the once-great retailer go in order to use the newly vacant space for newer, more dynamic tenants that are more complementary to the rest of their rent roll.
Living on the Edge: A new study concluded that 40% of the American middle class faces poverty in retirement thanks to a lack of savings, high healthcare costs and stagnant wages.
I Feel Like I’ve Been Hearing this for a While Now: Low income workers are finally starting to see long-awaited wage gains.
Hot Segments: Appreciation in self storage, industrial and manufactured homes sectors have greatly outpaced other property types since 2010.
Visionary: Rick Caruso has become the Walt Disney of retail by reinventing the mall of the future.
Rise of the Machines: Amazon is hard at work on replacing all of those warehouse workers who will now be paid $15/hour with robots.
Holding Up: Home prices relative to wages are still heading higher. But See: It’s very possible that real home price growth has entered a cyclical downturn and that production is about to decrease –
Homebuilder profitability is caught in this pincer between falling home price inflation and rising building cost inflation. So it’s no surprise that homebuilder stocks have lost more than a quarter of their value since January, with nearly half of that decline occurring in the last month or so.
Versatile: If the ideal new home of the 1990s and early 2000s was the McMansion, today’s version is a home that has the flexibility adapt to every need and allow its occupants to stay put for a longer period of time:
A decade ago, a dream home was designed to wow your friends and neighbors. Today, it’s designed to house your relatives. Or your Airbnb guests. And also be your workplace. Homebuilders say one of the biggest selling points in 2018 isn’t a three-car garage or a grand entryway — it’s a home with flexibility.
A Sucker Born Every Minute: Multilevel marketing businesses (MLMs) claim that they can make you rich while working from home in your spare time. However, a new study found that most MLM sellers make only $0.70/hour and some make even less than that. Please forward this one to every girl you went to HS with on Facebook
Natural Fit: Big tobacco is finally making a push into the cannabis space as Altria Group is apparently in talks to buy a Canadian producer.
Keeper: The winning bidder of the Banksy painting that self destructed after selling for $14.MM recently has decided to keep it, mainly because it’s probably worth a lot more now.
Chart of the Day
Gotta Hear Both Sides: A guy flew across the country to castrate his ex girlfriend’s boyfriend because Florida.
Dog Made Me Do It: A woman claimed that she fatally stabbed her husband as a result of slipping in dog poop because Florida.
Family Feud Headline: Tennessee dad tried to kill son with chainsaw, son runs over him with lawnmower.
When You Gotta Go: A mom let her toddler use a kids potty in an airplane aisle which is the epitome of IDGAF parenting.
Landmark Links – A candid look at the economy, real estate, and other things sometimes related.
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