CVS looking for folks to give it a shot, construction recovery slowing, growing counties in high-risk areas, a look at a fire-hardening start-up, the opportunity in addressing a housing shortfall.
In Today's News
CVS Makes Hiring Push Amid Worker Shortage, Increased Vaccine Demand
CVS Health (NYSE: CVS), one of the biggest U.S. providers of COVID-19 tests and vaccines, plans to hire 25,000 people this week, if it can, to address staffing shortages that have seen some customers seeking shots turned away, says this Wall Street Journal piece [subscription required].
The Millionacres takeaway: The nation's biggest drugstore chain is a mainstay in many a commercial real estate portfolio, so foot traffic there is good from that perspective. Plus, Pfizer announced today positive test results from its dosing for children as young as 5, so that traffic could soon pick up even more. The U.S. is also lifting the travel ban for vaccinated visitors from 33 countries as of Nov. 1. (Here's what our Maurie Backman has to say about it.) That, too, is good news for hotels, restaurants, and more -- and just in time for the holidays.
As Headwinds Linger, The Construction Sector’s Recovery Is Slowing
The U.S. construction sector enjoyed a robust period of recovery in the spring months of 2021, buoyed by positive economic trends and growing industry confidence. But that's changing.
The Millionacres takeaway: Bisnow pins slowing nonresidential construction on material costs and the lack of availability of materials and labor alike. Experts tell the news service that the retail and office segments seem particularly affected, especially compared with industrial projects.
Today on Millionacres
Counties Facing Climate Risk See Populations Soar
It would be easy to assume that the areas most prone to environmental risks would see a decline in population. But a recent study by Redfin (NASDAQ: RDFN) that analyzed the top 50 counties in the United States that are most at risk to climate change found the contrary.
The Millionacres takeaway: Intense heat, drought, fire, flood, and storms doesn't sound like the ideal investing scenario, but when the risk is considered, it may just present you with an enticing opportunity, our Liz Brumer explains.
Wildfires Out of Control: Firemaps Raises Funds for Home-Hardening
House fires in the United States in recent years, particularly in California, where more than one in 12 homes are in a high-risk zone for wildfires, are becoming commonplace once again. A new solution to help save homes is home-hardening.
The Millionacres takeaway: Our Laura Agadoni takes a look here at a San Francisco start-up that uses satellites and drones to create a 3D image of a home that can then be used by homeowners and contractors to do something about fire vulnerability. That sounds like it could be a good idea for real estate investors and homeowners alike.
5 Million More Homes Needed in the U.S.: What Investors Need to Know
There are roughly 140 million homes in the United States, but according to a recent report by Realtor.com, that isn't quite enough. In fact, there's such an imbalance in the supply of homes and the number of people who want to become homeowners that the U.S. needs 5.24 million more homes.
The Millionacres takeaway: Our Matt Frankel provides the highline on the real estate investing opportunity here. Hint: It involves builders.