Pandemic easing here, but global supply bottleneck threatens; pending home sales rebound; California companies bailing out, many to Texas; a look at one promising Sam Zell-run REIT.
In Today's News
U.S. COVID-19 Recovery Spreads as Prospects Improve in 47 States
The U.S. recovery from the latest COVID-19 wave is taking hold across the country, with cases dropping or poised to start falling in the vast majority of states, Bloomberg reports today [subscription required].
The Millionacres takeaway: This can't happen soon enough. For so many reasons. See below.
Workers Who Keep Global Supply Chains Moving Warn of 'System Collapse'
In an open letter today to heads of state attending the United Nations General Assembly, the International Chamber of Shipping (ICS) and other industry groups warned of a "global transport system collapse" if governments do not restore freedom of movement to transport workers and give them priority to receive vaccines recognized by the World Health Organization, CNN reports.
The Millionacres takeaway: Seems like each day there's word of another shortage. And you can now add paint to the materials in short supply for contractors. But a total system collapse? That sounds pretty cataclysmic.
Pending Home Sales Rebound in August
The National Association of Realtors (NAR) reported today that pending home sales rebounded in August, recording significant gains after two months of declines.
The Millionacres takeaway: Cooling price hikes and rising inventory are helping bring buyers back into the market, but affordability remains a concern.
Today on Millionacres
California, There They Go: This Think Tank Explains Where and Why
Researchers at a Stanford University think tank have chronicled a growing exodus of corporate headquarters from California. And they say the Lone Star State is the primary beneficiary of this outflow of brainpower, big salaries, and potentially transformational enterprises.
The Millionacres takeaway: The Hoover Institution's perspective can be eye-opening. The economic factors it cites -- plus wildfires and drought -- make this a challenging time for a state with an economy larger than many nations.
Why You Should Stock Up on Equity Commonwealth
Legendary real estate investor Sam Zell has made clear that he plans to use Equity Commonwealth (NYSE: EQC) to build a base in the industrial real estate sector. While he struck out in his first attempt, his company has enormous financial flexibility to pursue deals.
The Millionacres takeaway: Our Matthew DiLallo explains why now is a great time to consider stocking up on shares before Zell's team begins building their next great real estate investment trust (REIT) platform.