Laura becomes a Cat 4, CRE in the time of coronavirus, construction wages hit a high, a retailer that had a stellar second quarter, and why investors may want to buy in the city next year.
Hurricane Laura Turns into a Category 4 Monster
A cyclone of immense power and fury is about to crash into the Gulf Coast, again.
Why it matters: Katrina was 15 years ago, and parts of New Orleans and other coastal communities still bear the scars. Recovery from these kinds of storms probably won't get easier -- despite their predicted growing regularity -- and the economic burden of increased competition for construction labor and supplies as well as insurance payouts and just plain human dislocation and misery can be considerable. Plus, the peak of hurricane season? That's in September.
Pandemic Sends Commercial Real Estate on a Roller Coaster Ride
The ability to work at home and explosive growth of e-commerce have provided some stability to an economy that otherwise could have been even more bashed by the COVID-19 plague, according to an article published today by REBusiness Online.
Why it matters: This interesting piece lays out in words and graphs how this economic downturn is different than others in our not-so-distant past. A holistic view like this can help investors cogitate while deciding where and when to plunk down their next commitment.
Construction Wages Build on Record of Being Well Above Average
Driven by demand, U.S. construction workers' median annual wage of $47,430 tops the overall national average by 19%, according to a report out today from Construction Coverage.
Why it matters: Well, besides showing one more effect of surging housing demand, this report -- which shows Illinois leading all states with a median wage of $71,111 -- also could indicate somewhere to turn for house flippers with good skills and no house to flip. A builder near you may well be hiring!
Today on Millionacres
Dick's Sporting Goods Shows It's Still Got Game
Millionacres' Maurie Backman shares her perspective on how Dick's Sporting Goods (NYSE: DKS) crushed it in the second quarter and gave hope to a sector that has seen an onslaught of closings and bankruptcies.
Why it matters: Not all is doom and gloom in retail right now. Some major retailers reported really robust results, including this regular resident of well-anchored shopping centers across the land.
Why 2021 Could Be the Right Time to Buy City Real Estate
One potential silver lining in the crisis the coronavirus may be causing in downtown housing markets is that property may again be more affordable in the not-so-distant future.
Why it matters: People flee and property beckons. Investors might watch for some attractive opportunities in major markets across the country next year. We'll help keep you posted!