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Parsing the prez; a different new economy; pending sales recover; REIT buys REIT; plus the power of towers.
In Today's News
The president pitched his American Families Plan, immigration reform, getting vaccinated, and more. Check out this look at key takeaways from the perspective of The Wall Street Journal [subscription required].
The Millionacres takeaway: The new president's plan to end the old 1031 exchange tax break is just for starters when it comes to the impact that could be coming for commercial and residential real estate investors. If it's a rising tide that results, all boats should be lifting though, or at least most, one would think.
GDP figures out today show the economy is whipsawing back from the pandemic, especially spending on durable goods. This New York Times piece [subscription required] looks at how the progress is "profoundly unequal across sectors, unbalanced in ways that have enormous long-term implications for businesses and workers."
The Millionacres takeaway: Read this for a high-line look at where things are going, and then take a bottom-line look at your investments, now and going forward.
After two months of decline, pending home sales rose in March, the National Association of Realtors said today, with all but one of the four major U.S. regions seeing gains, and all four notching year-over-year growth.
Today on Millionacres
The Millionacres takeaway: Our Matt Frankel says this isn't just a typical merger where both companies combine into one; Realty Income and VEREIT have an interesting plan to unlock shareholder value immediately after the deal is finalized.
Crown Castle International (NYSE: CCI) has been a spectacular wealth creator throughout its history. The infrastructure REIT has generated a roughly 1,760% total return since its initial public offering in 1998, blowing well past the S&P 500's approximately 505% total return during that time frame.
The Millionacres takeaway: But can this power of towers keep it up? Our Matthew DiLallo thinks it may well be able to keep outperforming the market, and he tells you why here.
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