COVID-19 and HVAC implications; retail and office response to unmasking America; child credit payments may be another stimulus; retail sales flattened out; and some direction on Compass.
In Today's News
COVID Is Airborne: Scientists and Authorities Agree
Bloomberg reports today that that new acceptance, by the World Health Organization and the U.S. Centers for Disease Control and Prevention, comes with concrete implications: Scientists are calling for ventilation systems to be overhauled like public water supplies were in the 1800s after fetid pipes were found to harbor cholera.
The Millionacres takeaway: This sounds like a signal to developers and real estate owners -- residential, retail, and otherwise -- to get ahead of the curve and start thinking about HVAC improvements that can address this most pressing issue.
Companies Ponder Speeding Up Plans to Bring Workers Back to Offices
The Centers for Disease Control and Prevention's updated guidance last week threw a new wrinkle into reopening plans, raising questions about whether to speed up office-return dates, The Wall Street Journal says [subscription required].
The Millionacres takeaway: Local laws and employee comfort levels also will play a role. Watch, too, for how retailers handle the issue. Target, CVS, and Starbucks are among those who have just announced easing of mask rules in their stores.
Monthly Child Tax Credit Payments Start Hitting Bank Accounts in July
The Biden administration announced Monday that about 39 million families will begin receiving monthly child tax credit payments for the first time starting July 15, NBC News reports.
The Millionacres takeaway: Those payments are intended to reduce child poverty, and a side effect of that might be a boost to retail sales that earlier stimulus payments notably produced.
Today on Millionacres
Retail Sales Didn't Fall but Didn't Rise: Are They Just Right?
After a March surge fueled by vaccinations and pandemic relief payments, April retail sales were flat, the U.S. Census Bureau reported Friday. Should investors worry?
The Millionacres takeaway: COVID-19 brought so much to a screaming halt last year that it's natural to expect a similar trajectory forward. That's simply not going to happen. There was just too much disruption to people's lives and businesses, as well as to the supply chain integral to so much economic activity.
Compass Reports First-Quarter Earnings as Publicly Traded Company
In residential real estate, Compass (NYSE: COMP) has been one of the most buzzed-about upstarts to the traditional brokerage world. Originally backed by Softbank, Compass raised over $1.5 billion before going public. Now, its first earnings statement gives us a chance to look at how the company is making the most of this hot real estate market.
The Millionacres takeaway: Our Deidre Woollard notes that so far, the stock market hasn't embraced Compass. It started off at $20.15 per share and was at $14.15 as of May 14. However, one quarter doesn't tell the story of any company, Compass now has the challenge of stitching together all of its technology while also giving agents everything they need to make the most of the opportunities in the market.