Travel advisories and eviction bans, extreme weather from the Gulf to the Big Apple, and some promising apartment REITs to consider.
COVID-19 and Real Estate
CDC Asks the Unvaccinated Not to Travel This Weekend
Due to the surge of COVID-19 cases, the director of the U.S. Centers for Disease Control and Prevention (CDC) is asking unvaccinated Americans not to travel during the Labor Day holiday weekend, CNN reports today.
The Millionacres takeaway: And the agency is asking the vaccinated to think twice. While the effect of such warnings is questionable, there's little doubt that the delta variant (and whatever comes after it) presents a real and present threat to businesses of all kinds, and their investors. And that goes well beyond those dependent on leisure and business travel. See our Nell McPherson's take on it here.
New York Extends State Eviction Ban Until 2022
The Supreme Court may have struck down the CDC's national eviction ban, but individual state and city bans still stand. And New York's? It will now last until 2022.
The Millionacres takeaway: Our Aly Yale points out that the Empire State's ban offers a few options for those dealing with particularly troublesome renters -- as well as those who may be gaming the system. Plus, she says, some experts say this ban, too, will be struck down in court.
Hurricane Ida and Real Estate
New York Multifamily Damage in the 'Billions' From Historic Flooding
The remnants of Hurricane Ida that blew through New York City resulted in a citywide rampage that left billions of dollars in real estate damage, 16 people dead, and the future of the tri-state area's infrastructure uncertain, Commercial Observer reports today.
The Millionacres takeaway: Expect all this weather mayhem to ramp up calls for governments on every level to do something to shore up the nation's ability to withstand increasingly powerful and frequent storms -- both the wet and fiery kinds.
20-Plus Resources for Landlords in the Big (Not So) Easy
Hurricane Ida's staggering blow to New Orleans was a one-two punch for those landlords who both own and live in and around the Crescent City.
The Millionacres takeaway: While the power is slowly returning, resources are there and growing, too. Check out this piece if you're in that situation. We hope it helps.
Also Today on Millionacres
3 Apartment REITs to Buy in September
Our Matthew DiLallo takes a look at some real estate investment trusts (REITs) that are following migration and growth trends into the Sun -- Belt, that is.
The Millionacres takeaway: Equity Residential, Independence Realty, and Preferred Apartment Communities believe this shift will enable them to grow their rental income at a faster pace in the coming years. And that's why they stand out as attractive apartment REITs to consider buying this September.