Hospitals no longer overrun, WFH not welcome from Colorado, multifamily mortgage debt on the rise, an office REIT heads to Austin, short commutes and the home construction market
In Today’s News
COVID-19 Counts Hit Zero in Some Hospitals Once Overrun
The first pandemic surge flooded Boston Medical Center with coronavirus patients: 229 at last spring’s peak, filling nearly two-thirds of its beds. This week, the COVID-19 count hit zero, Bloomberg reports today [subscription required].
The Millionacres takeaway: The good news here -- that vaccinations are doing their part to vanquish the virus -- is music to the ears of real estate investors and, presumably, everyone else. The pandemic isn’t over, but it underlines how much has been done so far.
Many Companies Want Remote Workers -- Except From Colorado
After a new state law that requires employers to disclose salaries for open positions, some are advertising jobs available anywhere in the U.S. but Colorado, The Wall Street Journal reports [subscription required].
The Millionacres takeaway: This is an interesting article and may help make the decision for some folks mulling where to move. In the real estate space, CBRE is among those cited in the article.
Multifamily Dominates Q1 Growth in Outstanding CRE Debt
Commercial/multifamily mortgage debt outstanding rose by $44.6 billion (1.1%) in the first quarter, with multifamily accounting for the lion’s share of the increase, Connect Daily reports today, citing Mortgage Bankers Association data.
The Millionacres takeaway: Big-money investor confidence in this sector may be taken as a good sign for individual buy-ins, including through such instruments as apartment real estate investment trusts (REITs).
Today on Millionacres
This Office REIT Is Expanding Its Reach Into Austin
Kilroy Realty (NYSE: KRC) currently focuses on owning office buildings in West Coast markets. But that’s about to change.
The Millionacres takeaway: Our Matthew DiLallo shares why Kilroy executives think the fast-growing Texas capital provides some of the same attractive characteristics as its West Coast base. And how this investment option is not alone, even among office REITs.
NAHB Finds Strongest Construction Growth in Short-Commute Markets
We know homebuilding is doing well overall across the country, but that activity is not evenly spread. Investors looking for good places to maximize their returns might want to pay attention to some findings in a new report from the National Association of Home Builders (NAHB).
The Millionacres takeaway: Areas that provide both a reasonable commute and prime work-from-home options seem like the best bet if you agree that preferences that grew out of the pandemic will continue to dominate in the emerging new housing market.