What follows the end of the eviction moratorium? Plus, interest rates inch up, industrial storage heats up, and one Millionacres writer shows the "path to progress" and another makes a stock pick.
In Today's News
Tonight's the Night: End of Eviction Moratorium Arrives
Millions of evictions could follow tonight's expiration of the federal moratorium imposed on landlords and property managers nationwide. Millions of forbearances could be ending, too.
Why it matters: This piece from The Hill rounds up the capitol kerfuffle around more relief and adds context from think types from around the industry. Meanwhile, Wells Fargo (NYSE: SFC) is being dinged again, this time for granting people forbearances who never asked for it. Is this beginning to sound like the housing crisis, including the robo-signing foreclosure nightmare that was part and parcel of the Great Recession?
Mortgage Rates Tick Back Up After Dipping Below 3%
Fannie Mae says the average rate for a 30-year fixed mortgage is now 3.01% after that benchmark metric fell below 3% last week.
Why it matters: A tiny move does not a trend make, and what's behind the rise is of more immediate concern: surging cases of COVID-19 aggravating what's already a precarious job market that saw more than a million new jobless claims again this week.
Growing Inventory and E-Commerce Demand Fueling Industrial Real Estate
This Trepp report lays out how the just-in-time-inventory revolution may be over for retailers as supply chain issues make industrial warehouse space a growing imperative.
Why it matters: Industrial real estate investment trusts (REITs) are a popular way to invest in this vertical, including such players as Prologis (NYSE: PLD). New dynamics like this might be an impetus to take a harder look at such stocks.
Today on Millionacres