Bracing for unrest by boarding up storefronts, WeWork says 'We're well,' tech tenants still employ huge numbers, residential sales soar but some markets look more vulnerable than others.
In Today's News
U.S. Retailers Secure Stores as Election Unrest Worries Mount
Reuters reports that as security experts warn that the U.S. presidential election could spark renewed civil unrest, some stores remain clad in plywood from recent troubles and insurers and risk experts report more are boarding up, or should.
Why it matters: Because, well, 2020. Not a happy read here but information that property investors might want to know.
WeWork Says Company's Balance Sheet As Strong As Any Tenant's
The co-working space giant has cut its selling, general, and administrative expenses, jettisoned "unnecessary systems," and rightsized its labor force.
Why it matters: WeWork itself occupies a lot of rented office space around the country. Its recovery could bode well for those property owners and for other operators of the army of such enterprises trying to survive the pandemic.
Tech Tenants Remain Biggest Force in Office Leasing
From 2010 to 2019, 1.5 million technology jobs were created. Only 58,000 have been lost in 2020. That's according to a CBRE (NYSE: CBRE) report parsed out online by Commercial Property Executive.
Why it matters: While there are a lot of sublease concerns, especially in markets like San Francisco, there are other places where things look brighter. And there's still some reason to believe office space could make a comeback post-pandemic just because people like to work around each other, and some would argue, do so more productively and creatively.
Today on Millionacres
Existing-Home Sales Continue Epic Surge
And that's not all, according to the September sales report released today by the National Association of Realtors. Time on market is at a record low, and the median price has risen for the 103rd-straight month.
Why it matters: Investors looking for a Halloween treat could find the housing market especially tricky right now. But will the pandemic slow down the party?
These Housing Markets Are Deemed Most Vulnerable
Six states -- Connecticut, New York, New Jersey, Pennsylvania, Maryland, and Delaware -- are home to 32 of the 50 counties nationwide considered most vulnerable to the economic calamities of the coronavirus.
Why it matters: This report from ATTOM Data Solutions delves in a fairly granular fashion into how it came up with that conclusion and where these markets are located. It could provide some forward-leaning intel for both residential and commercial real estate investors.