COVID-19 could make us all long haulers, State Street says so long to Wall Street, multifamily REITs go south -- literally, pot stock a sweet spot, charging up your vacation rental’s appeal.
In Today’s News
The World May Never Reach Herd Immunity Against COVID-19
A virus that keeps mutating means herd immunity may well never happen. Instead, the virus could linger for decades in some form, possibly forcing the world’s most powerful nations to adjust their diverging strategies on opening borders and economies, Bloomberg reports today [subscription required].
The Millionacres takeaway: Perhaps it’s now time, too, to consider how this potential reality could affect your own investing and, indeed, living strategies. This probably won’t be the last time you’ll hear about this in coming weeks and months.
State Street, Firm Behind Wall Street’s ‘Fearless Girl’ Statue, Is Vacating NYC Offices
Executives at the Boston-based financial services giant told New York staffers they won’t be returning to its Midtown Manhattan offices, The Wall Street Journal reports today [subscription required], and expects to sublease the two offices near Rockefeller Center to other companies.
The Millionacres takeaway: It seems reasonable to expect more of this in the Big Apple and elsewhere as the pandemic wears on (see above), so office space investors, including in real estate investment trusts (REITs): Be advised.
Today on Millionacres
Multifamily REITs Are All Moving in One Direction
Companies are increasingly relocating and expanding in large cities across the Sun Belt region because of their better business climates, which are drawing job seekers needing places to live. As a result, residential REITs are increasingly moving to the South to capture this growing demand for apartments.
The Millionacres takeaway: Our Matthew DiLallo writes that this strategy makes a lot of sense for REITs because they can benefit from faster rent growth, creating more value for their shareholders in the coming years. And he names a few REITs to consider.
This REIT Is My Largest Holding
Our Jamal Carnette says if you would have told him a year ago that a REIT would soon be his largest holding -- especially one yielding barely more than the S&P 500 -- he would have questioned your sanity.
The Millionacres takeaway: That was then. This is now, and for the future, Jamal sees nothing but blue skies and green fields for Innovative Industrial Properties (NYSE: IIPR).
Airbnb Goes Electric: Is This New Search Feature a Game Changer?
If you're looking for a way to set your vacation rental apart from the pack and have yet to install one, could an EV charger be a worthwhile addition to your property?
The Millionacres takeaway: Just click on that headline if you want the lowdown from our Nell McPherson. Spoiler alert: She can see both sides of the argument, depending on your location's market and demand.