Job growth suddenly in the red, single-family rentals building an investor sweet spot, Big Apple CRE tanking, Millionacres writers share their resolutions, and some feng shui to wrap up a rough week.
In Today's News
U.S. Jobs Recovery Falters as Hiring Streak Snapped
The U.S. labor market lost jobs in December for the first time in eight months, reflecting a plunge in restaurant employment that highlights how surging coronavirus infections are taking a greater toll on parts of the economy, Bloomberg reports.
Why it matters: Restaurants are a major segment of the commercial real estate industry. Seeing them leading the way down is not encouraging.
Rental Home Construction Climbs as Purchase Prices Surge
The Wall Street Journal reports today that investors are building tens of thousands of houses expressly to rent in a bet that Americans will keep flocking to spacious suburban living even if they can't afford to buy homes.
Why it matters: The article says individuals, family offices, pension funds, and Wall Street's boldfaced names are shoveling billions of dollars into build-to-rent projects. Time will tell how these bets hold up.
Retail Rents Take Historic Tumble in New York City
CNBC reports today that rents for retail space in New York City have tumbled to historic lows, dropping as much as 25% from 2019 levels, as troubled retailers like Neiman Marcus and Century 21 (NYSE: RLGY) closed stores and vacancies soared.
Why it matters: Now is a good time to consider jumping in or bailing out if you're an investor or considering becoming one in real estate investment trusts (REITs), stocks, direct ownership, or however else you want to play in the Big Apple. It depends on what you think the future holds.
Today on Millionacres
New Year's Resolutions for Real Estate in 2021
Six of our Millionacres writers share their resolutions on how they're going to invest, write about investment, or improve their own real estate in the year ahead.
Why it matters: There's a wide range of strategy and tactics churning in these little Fool brains of ours. Please check it out. We hope it helps spur some creative thought of your own in these most peculiar of times.
Does the Side of the Street Your Property Is On Matter?
Millionacres' Laura Agadoni, a suburban Atlanta landlord herself, says that while house orientation can be a factor for some people regarding how much they're willing to pay, it matters little to others.
Why it matters: Check out this uber-interesting piece for some views on everything from climate to feng shui. Laura's bottom line for investors: Buy homes people want. If you can consistently do that, you should be golden.