Vaccines arrive at nursing homes, hotels see bookings surge, home values hit new heights, Super Saturday and super expectations, and a debate on office space.
In Today's News
CVS, Walgreens Start Providing Vaccines to Hard-Hit Nursing Homes
CNBC reports today that CVS Health (NYSE: CVS) and Walgreens (NASDAQ: WBA) are starting to give COVID-19 vaccinations to residents and staff at nursing homes and assisted living facilities, making them among the first Americans to receive the shots.
Why it matters: Besides saving lives in the most hard-hit of all pandemic hotspots across the country, quelling the plague in such facilities could go a long way toward helping those operations maintain their own health, to the relief of investors in the multiple real estate trusts (REITs) and other stakeholders in this business.
Hotel Bookings Surge Following COVID-19 Vaccine Approval
FOX Business reports that hotel bookings surged to levels not seen since March, when news of the first coronavirus vaccine approvals broke.
Why it matters: Hotel chains and stocks, including REITs, have been mauled by the pandemic. A surge in vaccinations can only help keep this rally going, it would seem, especially if the whole economy rallies with it.
Home Value Growth Breaks Records As Rents Stabilize
Zillow (NASDAQ: Z) (NASDAQ: ZG) reported today that home values posted the largest monthly and quarterly increases in its 25 years of record while rents began to appreciate in November after a months-long slide.
Why it matters: Economists for the massive listing and sales website also predict 2021 sales to be the strongest since 2005, for rent growth to make up for what it lost in 2020, and for home values to reach 10% year-over-year growth by November. That sounds like a boom market for months to come.
Today on Millionacres
Could Super Saturday Be One Last 2020 Hurrah for Brick-and-Mortar Retailers?
The coronavirus pandemic has driven dozens of well-known names into bankruptcy, leading to store closures that have real estate investors worried. And if retailers don't get a huge revenue boost over the holidays, many more will no doubt inch closer to filing for bankruptcy as well.
Why it matters: Millionacres' Maurie Backman points out that the Saturday before Christmas -- that's tomorrow -- brings with it optimism from retailers but also the grim reality that they need this season holiday shopping season to be a success now more than ever.
A Millionacres Debate: A Great Time to Invest in Office Space?
The coronavirus plague has emptied office space of occupants and a lot of value. So, is now a good time to take advantage of lower prices and the potential for recovery, or is it time to look elsewhere with your real estate investment dollars?
Why it matters: The knife can cut both ways when it comes to how office space demand responds in the months ahead. Millionacres' Lena Katz and Marc Rapport share perspectives from each side. You decide.