Laura lashes Gulf Coast, pandemic and housing instability, truck stops flourish, sussing out Simon's strategy, and talk-you-through-it virtual home repair guidance.
In Today's News
Hurricane Laura Insured Property Toll as High as $12 Billion
CoreLogic (NYSE: CLGX) estimates Hurricane Laura caused $8 billion to $12 billion in insured property damages, with preliminary figures showing more than a half-million commercial and residential structures affected.
Why it matters: The final tally is yet to come, but the bottom line is that insurers are going to look to recoup those losses, and that means higher rates for investors and residents along vulnerable coasts. Here's another piece that examines that issue.
In a Pandemic, Housing Instability Is a Preexisting Condition
The breadth of economic impacts from the pandemic, as well as the small shares of renters with sufficient reserves to cover unexpected income losses, are likely shifting concerns about making rent higher up the income spectrum, according to a new report from Economic Community Partners.
Why it matters: This in-depth look at the socioeconomic effects of COVID-19 on housing stability nationally is both sobering and insightful. That takeaway cited above also points to growing stress on the ledgers for apartment owners and managers.
Truck Stops Move Into the Fast Lane During COVID-19
One of the narrower of niches doing well during these times is truck stops. This Wall Street Journal article lays out who and why.
Why it matters: Investment opportunities might be limited here, since three companies dominate the space, but two of the three are publicly held, so individual investors can pull on in, and real estate investment trusts (REITs) and other deep-pocketed folks can be alert to franchising opportunities.
Today on Millionacres
4 Famous Brands Simon Property Group Now Owns
With $8.5 billion in liquidity and its own real estate to fill, the nation's biggest mall REIT has been buying up major brand-name stores, and it appears there's more to come.
Why it matters: Millionacres' Matt Frankel looks at the strategy, noting that Simon could benefit from both keeping space filled and adding income from these retailers if it can turn them around. If that play makes sense to you, the REIT's stock is always for sale.
Need Home Repairs During COVID-19? Try a Virtual Service
Millionacres' Maurie Backman shares her own experience with home repairs via YouTube and notes that there are services out there that will talk you through it live online.
Why it matters: If it can be done virtually, there's a lot of logic to doing something like this until you feel safe having someone in your house to do those fixes. That's true whether it's your own home, a rental property, or a flip you're preparing to market.