What Blackstone's boss is buying, underwater homes take a dip, HUD restores a fair housing test rule, WeWork is working it out, a deep dive on a data center REIT.
In Today's News
What the World's Most Successful Real Estate Investor Is Buying
The president of Blackstone Group (NYSE: BX) has some advice for investors looking to make sense of the wild real estate market in the U.S: Don't fear a bust anytime soon.
The Millionacres takeaway: Jon Gray tells Bloomberg Wealth [subscription required] he doesn't see typical warning signs of a market collapse, and he predicts a "rediscovery" of cities like San Francisco and New York fueled by immigrants, creativity, entrepreneurship, and technology.
Number of Underwater Homes Took a Dip in Q1
As the pandemic created economic uncertainty for many, the continued acceleration in home prices over the last year has meant existing homeowners saw a notable boost in home equity, DS News says.
The Millionacres takeaway: Well, it looks like a rising tide lifted this boat and should further limit housing inventory for real estate investors looking to pick up a foreclosure or short sale for a flip.
HUD Restores Affirmatively Furthering Fair Housing Requirement
The U.S. Department of Housing and Urban Development (HUD) on Thursday published an interim final rule to restore the implementation of the Fair Housing Act's Affirmatively Furthering Fair Housing (AFFH) requirement.
The Millionacres takeaway: The rule was put in place late during the Obama administration, removed by the Trump administration, and is now back again. The 92-question grading tool that grantees had to use was never enforced. Whether this move is symbolic or real remains to be seen.
Today on Millionacres
What Does WeWork's $2.1 Billion Loss Mean for Co-Working?
Nothing about WeWork has been exactly normal. If you follow the ups and downs this company has taken over the years, no news would really surprise you, and the same goes with this latest revelation: the company losing $2.1 billion.
The Millionacres takeaway: Our Laura Agadoni lays out how WeWork is in a position to survive such a bloodletting and how the reasons why also bode well for shared office space purveyors in general.
Is CoreSite Realty Corporation a Buy?
Most internet stocks are growth-oriented affairs, which can leave income investors out in the cold. CoreSite Realty (NYSE: COR), however, is an internet stock that offers a huge 4.1% dividend yield.
The Millionacres takeaway: CoreSite is not the largest of the data center REITs (real estate investment trusts), and it may well not be the best, says our Reuben Gregg Brewer, but he makes a case for why it might be just right for some investors.