Senate passes infrastructure bill, landlords sue the government, a REIT that's not rewarding enough, malls stumble along, multifamily rents still on the rise but not forever.
Today on Millionacres
Senate Passes Infrastructure Bill: Some Potential Real Estate Impacts
In an uber-rare show of bipartisanship, the U.S. Senate today agreed to take out a $1 trillion mortgage on the nation's future by passing an infrastructure bill after months of haggling.
The Millionacres takeaway: This big spend has some hurdles ahead to become law, but it seems more likely now. Once it does, the real work starts. Watch for infrastructure projects in your area and the investing opportunities they then produce. After all, isn't all real estate local?
Landlords Sue U.S. Government for Unpaid Rent During Eviction Ban
Landlords are owed an estimated $57 billion in unpaid rent in the course of the pandemic, reports the National Apartment Association (NAA). And now they want the government to pay.
The Millionacres takeaway: Delays in getting application portals up and running has made it so the bulk of the $45 billion federal pool still hasn't reached the landlords who are due that money. And so it's not surprising, our Maurie Backman writes, that landlords are taking legal action after more than a year of being denied the money they need to get by.
Washington REIT's Story Is Better Than Its Reality
Our Reuben Gregg Brewer lays out how he was somewhat snookered by location, location, location in his investment in a real estate investment trust (REIT) that focuses on the affluent District of Columbia and environs.
The Millionacres takeaway: Word. Being humans, investors have a fondness for stories. It makes sense, and there's not a whole lot you can do about this other than to make sure that you question the assumptions you make based on these stories, our erstwhile Millionacres scribe notes.
Also in Today's News
The State of the American Mall
The pandemic led to the closure of retailers, creating empty spaces in shopping centers that have been filled by corporate offices, temporary vaccination sites, and even a school. Yet the highest-end properties in many markets seem poised to prosper.
The Millionacres takeaway: This thoughtful piece posted today by The New York Times wraps some color and insight around the dry facts: Many malls are closed, closing, or repurposing, while there are some good reasons that some still thrive. The latter merit real estate investment consideration.
How Long Will Multifamily Rent Increases Last?
The ability to raise rents has been on a tear in the multifamily sector of late, GlobeSt.com reports today, but that won't last forever. Maybe two or three years, one analyst says here.
The Millionacres takeaway: Factors such as a cooling housing market that makes more buyers out of renters could help dampen demand. On the other hand, utilities and other fixed expenses keep rising, so that pushes the other way. Interesting times we live and invest in.