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5 at 5: Your Daily Digest for Real Estate Investing, 3/29/21

[Updated: Mar 29, 2021 ] Mar 29, 2021 by Marc Rapport
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CDC kicks ban can to summer days, flipping in dip not flop, WeWork finally goes public, warehouse demand up while distressed CRE forces those prices down.

Today on Millionacres

Oops, They Did It Again: CDC Extends Eviction Moratorium

The U.S. Centers for Disease Control on Monday extended its rental eviction moratorium until June 30. The order was set to expire on Wednesday.

The Millionacres takeaway: Will this be the last? There are declining numbers of people unable to make their rent, officials say, but still many more millions in that situation, and both sides of that business transaction suffer.

Home Flipping Gets Less Profitable

Has home flipping lost its luster? According to the latest data, flipping activity fell a whopping 13% in 2020, hitting its lowest point since 2016. What’s worse: Overall flipping ROIs dropped, too.

The Millionacres takeaway: As our Aly Yale explains, flipping activity -- as well as ROIs associated with it -- definitely trended downward in 2020, but that was a unique year. Returns are still strong historically speaking, and though activity is waning, low inventory and foreclosure bans probably have a lot to do with that.

It’s Official -- WeWork is Finally Going Public

WeWork has agreed to merge with a special purpose acquisition company, or SPAC, called BowX Acquisition (NASDAQ: BOWX), a blank-check company sponsored by venture capital fund Bow Capital.

The Millionacres takeaway: Our Matt Frankel cautions that some big unanswered questions remain, especially regarding WeWork's path to profitability, given that billion-dollar losses are showing no signs of stopping.

Also in Today’s News

Golf Courses and Office Buildings Converted to Retail Warehouses to Meet Industrial Space Demand

CNBC reports today that demand for industrial, big-box facilities -- warehouses or distribution centers of 200,000 square feet or more -- hit a record in North America last year, according to commercial real estate services firm CBRE Group (NYSE: CBRE).

The Millionacres takeaway: There’s no dearth of industrial REITs (real estate investment trusts) happy to invest your money in this trend, and individual investors can look around themselves for properties that just might be ripe for the picking here, too.

Up to $28 Billion In Distressed CRE Could Hit Market in Next 24 Months

A significant amount of distressed retail real estate is expected to come to market over the coming years, providing opportunities for investors to pick up quality assets and/or land occupied by retail centers in core infill markets at deep discounts, reports today.

The Millionacres takeaway: Perhaps not surprisingly, a big chunk of these deals will be in enclosed malls and strip centers, so investors will need to pick and choose carefully to make a deal that’ll pay off in paying new tenants or a healthy flip.

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Marc Rapport has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.