Delta variant keeps hammering office use, mortgage delinquencies dip amid some signs of a cooling market, why Dollar Tree is in the dumps, Rocket Mortgage eyes iBuying
In Today's News
Surging Delta Cases Reverse the World's March Back to the Office
The spread of the delta variant has forced many U.S. employers that had been hoping to get staff back to their desks after Labor Day to delay those plans until at least October -- or even next year, Bloomberg says today in this city-by-city look around the globe.
The Millionacres takeaway: I know we keep beating that drum in this space, but as long as you hold investments like office REITs, you're in the orchestra.
Today in the Housing Market
More Indicators of a (Slightly) Cooling Market
When you're hot, you're hot. When you're not, you're not. Usually, you're somewhere in between, and in real estate investing, the trick is knowing which way you're heading. Two more indicators of a slight change in direction came out this week.
Mortgage Delinquencies Take a Q2 2021 Dip
The Mortgage Bankers Association said this week that the delinquency rate for mortgage loans on one-to-four-unit residential properties decreased to a seasonally adjusted rate of 5.47% percent, the lowest since Q1 2020. Not only that, the drop in delinquency for FHA and VA loans was the largest in one quarter since the MBA began keeping score in 1979.
The Millionacres takeaway: While there are indications that prices aren't growing quite as fast and that supply may be edging up, they're still not flashing red lights for this go-go market. And potential flippers waiting for the market to start coughing up foreclosures before taking a shot at this hot housing market may want to keep their powder dry.
Also Today on Millionacres
Inflation May Be Hitting This Retailer Hardest: The Investor Takeaway
Inflation lowers the value of a dollar, and in this case, the Dollar Tree (NYSE: DLTR). Our Nell McPherson takes a look at this company that has suddenly gone from Wall Street darling to down in the dumps.
The Millionacres takeaway: If the pandemic has taught us anything about retail, it's just how quickly you can go from hot to not. Dollar Tree is not going belly-up certainly, but it's not necessarily the rock-solid anchor that every shopping center -- and their investors -- needs. Of course, that can change. And quickly.