Vaccine gets FDA nod, existing-home sales pick up the pace, a REIT for our times, delta not slowing the STR biz, Walmart picks up a lot of college tabs.
In Today's News
The FDA Grants Full Approval to the Pfizer-BioNTech COVID-19 Vaccine
The decision announced today will set off a cascade of vaccine requirements by hospitals, colleges, corporations, and other organizations, The New York Times reports. The Pentagon immediately said it would order the vaccine for active-duty members of the military.
The Millionacres takeaway: If this measure tamps down the virus outbreak enough to reduce any threat of shutdown of schools, retail, and more, it will have a truly positive effect on the outlook for investments in all types of real estate.
Existing-Home Sales Continue Their Summer Sizzle
The National Association of Realtors said today that existing-home sales rose 2% on a seasonally adjusted annual rate from June to July, with no sales declines showing in any regions, and the median price rose at a year-over-year rate of 17.8%.
The Millionacres takeaway: The monthly report also showed that the inventory of unsold homes increased by 7.3% at the same time, equivalent to 2.6 months of inventory. The NAR says home prices may soon level off as a result and that there's more high-end market growth than in the starter-home bracket, where supply is tighter.
Today on Millionacres
I Put $500 Into This REIT, and Here's Why You Should Too
Our Matthew DiLallo says he recently invested $500 into Medical Properties Trust (NYSE: MPW), a real estate investment trust (REIT) focused on owning hospital properties. That was the latest in a series of relatively modest incremental purchases of what has become his single largest REIT holding.
The Millionacres takeaway: Matthew lays out here why he thinks this owner of hospitals presents multiple reasons to make its stock a good candidate for an immediate buy and long-term hold.
The Delta Variant Isn't Stopping Short-Term Rental Bookings
Our Aly Yale looks at two reports that show short-term rental (STR) bookings going strong -- and in some places setting records -- despite the pandemic's resurgence.
The Millionacres takeaway: The future of the short-term rental industry is looking pretty good, by current numbers, Aly writes. While the delta variant and resulting COVID-19 surge may put a small damper on things, the upcoming holidays should remain busy for most STR investors.
This Retailer Will Start Paying 100% of Employees' College Tuition
The cost of college has reached astronomical levels, and students routinely rack up piles of debt on the road to obtaining a degree. Walmart (NYSE: WMT) is looking to remove that burden for its staff. Recently, it announced that it will cover the full cost of college tuition and books at certain schools for all of its U.S. workers.
The Millionacres takeaway: Our Maurie Backman points out that hiring and retaining workers is an intense challenge that could threaten the viability of some retailers (and the rental income from the properties they occupy.) Here's one way to help keep them around, if you can foot that bill.