Truly extraordinary heat in the market and from the sun, more on Miami condo catastrophe, suburbia and co-working offices, and three high-yield REITs to consider for July buys.
In Today's News
Home Prices Surged in April at a 'Truly Extraordinary' Pace
Home prices in April saw an annual gain of 14.6%, up from a 13.3% increase in March, according to the S&P CoreLogic Case-Shiller National Home Price Index, CNBC reports today, a rate not seen before in 30 years of such tracking.
The Millionacres takeaway: Phoenix, San Diego, and Seattle were all up more than 20% from the year-ago month. The market just keeps getting hotter, and so does the weather.
Pacific Northwest Heat Changes Daily Life: 'No Analogy to Work With'
The heatwave baking the Pacific Northwest has set consecutive daily temperature records in Seattle and Portland, The Hill reports, sending the mercury to heights more common in Phoenix in August.
The Millionacres takeaway: Air conditioning is quickly becoming no longer optional in a big chunk of what once was cool country. Real estate investors and developers should probably take note as they buy and build going forward.
Miami Condo Collapse Is a Tragedy, But Also a Warning
When the 12-story Champlain Towers South condo in the Miami suburb of Surfside collapsed in the middle of the night, it was a tragedy in the classic sense -- because it might have been prevented. The event also serves as a warning, some experts tell GlobeSt.com.
The Millionacres takeaway: As more revelations trickle out daily about what a lot of people knew about the condition of that building, it also will focus attention on similar buildings in similar locations. Of course, memories are short. Even a disaster of this magnitude can quickly fade from national and local attention.
Today on Millionacres
Offices Are Dead? Not in Suburbia
The pandemic-induced flight to the suburbs followed by an uncertain path for return to office work has created some interesting new possibilities, says our Nell McPherson.
The Millionacres takeaway: Going forward, residential landlords looking for new investment properties in suburbia may want to take into account proximity to a nice co-working office in the midst of shopping and restaurants. That's just one example of the creative responses that could pay off going forward.
3 High-Yield REITs to Buy in July
There's a wide range of payouts among real estate investment trusts (REITs). Here are three near the top in yields -- that percentage of a current stock price that's paid out in dividends -- that, along with their underlying fundamentals, makes them good stocks to consider for a July buy.
The Millionacres takeaway: Just be conscious of the natural urge to chase yield, a risk laid out nicely here by our Matthew DiLallo: "3 REIT Investing Mistakes to Avoid." Keep up with the factors he points out, and you should be able to have a nice ride with AFIN, GNL, or PMT, while being alert to when it might be time to reevaluate or even bail out.