Job market is recovering but the delta variant threat keeps rising; a look at charging stations as a real estate investment.
In Today's News
The U.S. Economy Added 943,000 Jobs in July
The American economy roared into midsummer with a strong gain in hiring, but there are questions about its ability to maintain that momentum as the delta variant of the coronavirus causes growing concern, The New York Times reported today.
The Millionacres takeaway: Maintaining that momentum, much less avoiding a fresh downturn, depends on how willing Americans are to take measures to combat the virus, or to simply ignore it and keep on keeping on. Real estate investments, like so much else, will reflect the outcome of that balance.
United Becomes the 1st U.S. Airline to Require Employees Be Vaccinated
Citing "incredibly compelling" evidence that the vaccines are safe and effective, United Airlines (NASDAQ: UAL) announced today that its 67,000 U.S.-based employees will need to be inoculated against COVID-19 by late October to stay on the job, NPR reports.
The Millionacres takeaway: With its dependence on both leisure and work travel, the airline business is a good bellwether for where all this is going. Keeping people on the move means more folks arriving to spend money at places real estate investors like to see busy, including tourism and major business hubs.
Walmart Gives Special Bonuses and Pay Raises to Keep Warehouse Workers
Walmart (NYSE: WMT) is offering special bonuses to many warehouse employees to work every hour they are scheduled and, in some cases giving temporary pay raises, as the country's biggest retailer ramps up for the holiday shopping season with a tight labor market and stretched supply chains, The Wall Street Journal reports today [subscription required].
The Millionacres takeaway: Walmart is the country's largest private employer, with 1.6 million U.S. workers, most of them hourly workers in its thousands of stores and 190 warehouses. What the company does has an impact on all kinds of other businesses, including the real estate investment trusts (REITs) that own property the retail behemoth occupies.
Today on Millionacres
New York Auto Show Cancellation Is Another Blow to NYC Hotels
The New York International Auto Show was to open Aug. 20 but now has been canceled. At first, organizers were eager to move forward with the event, especially given New York's promising vaccination rates. But then the delta variant struck, and now the immediate future in the Big Apple and across the land is not so clear.
The Millionacres takeaway: Our Maurie Backman's take on this news can apply to hotel and restaurant districts around every major convention center in every major and not-so-major market in the country. Their recovery depends on people gathering again for trade shows, concerts, you name it.
What Investors Should Know About Biden's Electric Vehicle Initiative
President Joe Biden's proposals to combat climate change now include ensuring 50% of new vehicles sold in the U.S. be electric by 2030. That presents a lot of possibilities for real estate investment.
The Millionacres takeaway: Our Liz Brumer points out where charging stations can be promising investments to get started on now, and that there's already evidence showing that in some cases, properties that have them already are worth more than the same kind of properties that don't.