Here at RealtyMogul.com, we keep our finger on the pulse of all things real estate, from finance to technology and everything in between. We make a point of sharing interesting articles and think pieces among RealtyMogul.com staff to help our team stay abreast of the market, and ahead of the curve.
So we thought, why not share some of these insights with you.
Got A Minute? Here’s some recommended reading with key points from the content:
It’s Go Time for an Interest Rate Increase. Again. (Globestreet)
- It sounds like there is going to be a federal rate increase in the near future as today’s minutes from the April policy meeting have hinted. Among the reasons for pushing for the increase is continuing job gains and real income growth as well as staying consistent with previous messages. The Fed has discussed the effect and potential confusion that could arrive from not raising rates after they previously projected four rate increases for 2016.
These Are the Best U.S. Cities for Jobs (Bloomberg)
- Glassdoor compiled a top 25 list of best cities for jobs. The rankings take into account salary, cost of living, and average job satisfaction.
- Here is the list:
Conversion Wars: Industrial Users Battle with Office Developers for Available Sites (National Real Estate Investor)
- An interesting piece detailing the battle between industrial users and the increasing takeover of their space from creative office buyers. As industrial vacancies continue to tighten to all-time lows in many markets, industrial owners/brokers/tenants are pushing back and are asking city officials for assistance to keep building owners from breaking zoning rules. In San Francisco alone, the city investigated more than 100 cases of industrial space being leased for office use in 2015, and is looking at another 20 cases this year. Local brokers are being told to enforce Production, Design and Repair (PDR) zones when owners are being caught with tenants putting up computer desks and cubicles instead of industrial uses.
Chicago losing population, could be overtaken by Houston as 3rd-largest (Chicago Tribune)
- Chicago lost ~3,000 residents between 2014 and 2015 while the greater Chicago area lost ~6,300 residents – marking the greatest loss of any metro area in the country. Among the reasons residents have cited for leaving: high taxes, state budget stalemate, crime, the unemployment rate and the weather.
- The loss of residents has been especially concentrated among African Americans with many leaving to suburbs and or warmer weather. Chicago lost 181,000 black residents between 2000 and 2010 (according to the US Census).
- While Chicago is losing people, Houston saw the second-largest increase among major cities and is challenging Chicago for the third most populated city. Experts predict that if the patterns continue Houston could overtake Chicago in ten years.
- Also of note, the entire Midwest has been losing residents with cities such as Detroit and Milwaukee losing thousands of residents in recent years.
Bahrain Sovereign-Wealth fund Buys Stake in Office Buildings in Phoenix and Dallas (WSJ)
- Traditionally, most of the foreign money has come into NY, LA, and SF, some big foreign money purchases were recently made in Phoenix and Dallas. The sovereign-wealth fund of Bahrain on Thursday bought a 49% stake in a portfolio of seven office buildings spread between Phoenix and Dallas for $250M. While the dollar amount isn’t huge, this could be the start of a trend that secondary markets are starting to appeal to foreign buyers.
First Look: Target's 'Store of the Future' Launches in California (TheStreet)
- Target has rolled out their new “LA25” pilot program which takes its 35 top store enhancements and has been implementing them across 25 stores in LA. Some of the enhancements include sleeker apparel fixtures, a better-lit fresh produce section that emphasizes organics, dedicated service stations for people to quickly pick up online orders, as well as the addition of specialists in key departments to help provide product knowledge.
- They will also be testing “healthy” fast-casual concepts and have recently struck a deal with CVS to put their pharmacies in their stores. The company will undertake 39 full store remodels in 2016, and open 15 more stores.