Election uncertainty clouds future and current market conditions, a pet supply chain goes under, what's the deal with "dark stores," and a look at the year in homebuilding.
In Today's News
CNBC: Election Uncertainty Could Dampen Holiday Spending
Analysts say there's typically a temporary drop in consumer spending after major elections, and the anxiety and uncertainty of this one is making the all-important holiday shopping season to come even more of a question mark.
Why it matters: Many brick-and-mortar retailers have already cashed in or are barely hanging on. A tanked holiday shopping season might lead to even more empty storefronts and spaces not generating rent -- more bad news for commercial landlords.
REITs Assess Election Results
This GlobeSt.com piece takes a look at how the market for publicly held real estate investment trusts (REITs) have responded to election results so far, with a focus on California.
Why it matters: What's true on the Left Coast is true everywhere across this land, to a greater or lesser degree. While there's no winner to the presidential election yet, it appears predictions of a blue wave bringing about big changes in tax law and boosts to stimulus spending may not materialize.
Another One Bites the Dust: Pet Valu Shutting Down U.S. Operations
REBusiness Online reported today that Pet Valu, a specialty retailer of pet food and supplies, will close all 358 of its stores in the Midwest, Northeast, and Mid-Atlantic, as well as its warehouses and U.S. headquarters office in Wayne, Pennsylvania.
Why it matters: The chain's equity group owners say competition and the coronavirus combined forced the closures. There are a lot of pet supply supermarkets out there. Investors and property owners need to be aware of who's doing well -- and who might be next.
Today on Millionacres
Are 'Dark Stores' the New Trend in the Retail Apocalypse?
Some major retailers are experimenting with shutting their doors to in-person shoppers in favor of using the space as order fulfillment centers.
Why it matters: Millionacres' Barbara Zito takes an interesting look at this nascent trend and whether it can significantly help major retailers and their landlords.
Homebuilding: 2020 Year in Review
The National Association of Home Builders predicted modest growth for new construction in 2020. But that was before the pandemic struck, interest rates plummeted, and demand soared.
Why it matters: New home starts are only a fraction of existing home sales, but they're still a major part of the market. How they do affects investors in companies that build and sell homes, as well as people looking to buy and sell the homes themselves.