News

Goldman Sachs CEO Says Remote Work Is ‘Not a New Normal’ “When the coronavirus outbreak first erupted, a lot of people assumed they’d be working from home for a couple of weeks or, worst-case scenario, a couple of months until the situation improved. Fast-forward a full year, and many employees are still doing their jobs…

What Comes Next in the Residential Build-to-rent Market? “There will continue to be demand for rental communities even as millennials age into prime home-buying years and the homeownership rate rises. These communities can range from highly amenitized and institutionally managed to single-family homes. Mom and pop investors have known the value of single-family rental homes…

Friday Economic Update | 4.02.21 Data Updates: 3/29 to 4/2: Nonfinancial corporate profits, NACM credit managers’ index, ISM manufacturing, STLFSI, weekly unemployment claims, temporary employment, and yield curve; 3/22 to 3/26: Existing home sales, CFNAI, weekly unemployment claims, STLFSI, and University of Michigan consumer sentiment; 3/15 to 3/18: Retail sales, industrial capacity utilization, industrial production,…

Friday Economic Update | 3.26.21 Data Updates: 3/22 to 3/26: Existing home sales, CFNAI, weekly unemployment claims, STLFSI, and University of Michigan consumer sentiment; 3/15 to 3/18: Retail sales, industrial capacity utilization, industrial production, nonfarm job openings, nonfarm hires, private building permits, weekly unemployment claims, and STLFSI; 3/8 to 3/12: NFIB small business optimism, vehicle…

California finishes last on U-Haul’s 2020 migration growth ranking “California came in 50th on a new ranking measuring migration growth among the states based on one-way U-Haul truck traffic leaving or entering their borders last year. California displaced Illinois as the state with the biggest net loss of U-Haul trucks in 2020, the moving company…

The Dark Side of Remote Work “Covid-19 has provided the perfect context for large corporations to concentrate their power and resources. As businesses across the U.S. suffer economically from shutdown policies, larger firms have made financial gains. A sharp increase in unemployment has weakened the power of the labor force, and many industries are exchanging…

Los Angeles Apartment Rents Stabilize in February “It’s likely that this is signaling a real stabilization in rents. Although rent growth was flat, it’s worth pointing out that this is the first month since February 2020 where rents in L.A. didn’t drop,” Rob Warnock of Apartment List, tells GlobeSt.com. “After a full year of steady…

Are Single-Family Rental Values Becoming Inflated? “All in all, Koskovich sees a lot of growth in the market. “It’s a huge part of where we’re going,” he said. “I think it’s going to triple or quadruple in size in America because we’re going to have a lot less homeownership just generally speaking over the next…

Flights to Cheaper Areas Depletes Demands “Gateway markets struggled to hold on to residents and rent values in 2020 and Los Angeles was no different, as rates were down 0.1% on a trailing three-month basis as of December. Overall, figures in the metro fell by 3.0% in 2020, to an average of $2,157. A flight…

‘Bored In The Burbs’ Sentiment Could Fuel Multifamily Resurgence “A report from Rentspree found that among California’s top five cities of LA, San Diego, San Jose, S.F. and Fresno, only S.F. experienced a drop in competition for rental properties between 2019 and 2020. Although cities outside California like Austin, Texas, and Reno, Nevada, picked up…