Wells Fargo shutting down personal credit lines, Fundrise eyes an L.A. neighborhood, the downside for downtown districts, the return of iBuyers, retail and medical space can make a great match.
In Today's News
Report: Wells Fargo Shutting Down All Personal Lines of Credit
The bank is shutting down all existing personal lines of credit in coming weeks and no longer offers the product, according to customer letters reviewed by CNBC.
The Millionacres takeaway: The report says there may be about $25 billion outstanding in these kinds of $3,000 to $100,000 credit lines. The impact on real estate investors and fixer-uppers who use this kind of credit includes having to go somewhere else, and possibly with lower credit scores caused by the move.
Can an App Renovate a Neighborhood?
Fundrise, an online platform for individuals to collectively invest in real estate projects, is seeking to transform an entire neighborhood in Los Angeles, Bloomberg CityLab reports today.
The Millionacres takeaway: So, can an app renovate a neighborhood? If you think it can, and you want to join in, Fundrise is there for you. Check out this piece by our Matt DiLallo for more on this leader in commercial real estate crowdfunding.
The Downtown Office District Was Vulnerable. Even Before COVID-19
And now, maybe even more so. This New York Times piece uses CoStar data and a range of experts to weigh in on just how much.
The Millionacres takeaway: The lack of real estate diversity in many of our major downtowns makes that office space vulnerable to downturns, as we're seeing writ large by the pandemic. Being attuned to how much and where can help guide investors to greener urban pastures.
Today on Millionacres
iBuyers Are Back: Here's What It Means for Investors
iBuyers like Opendoor (NASDAQ: OPEN), Offerpad, and other similar companies took a notable step back during the pandemic -- but now, according to new data, they're diving back in with full force.
The Millionacres takeaway: Our Aly Yale says iBuying's return from a pandemic slump shouldn't have too much impact on supply -- at least nationwide. It could, however, influence certain markets, particularly those with a larger-than-average iBuyer presence.
The Future of the Doctor's Waiting Room Could Benefit Retail
"I love waiting at the doctor's office!" said no one ever.
The Millionacres takeaway: Our Barbara Zito takes a look at a couple of trends: revamping doctor's offices to upgrade the experience, and the blending of medical offices and retail space. She says that as more medical facilities move into a new, improved phase of the patient experience, retail investors could stand to benefit by, for example, moving in next door and providing top-notch customer experiences of their own.