Single-family rental market rocks, resort towns roll, malls reel as pandemic rages, and maybe just lease it all to hunters.
In Today’s News
The pandemic could have either hampered rents and migration or just the opposite. Well, according to GlobeSt.com, new demand has hit generational records, rents have seen upward pressure, and the single-family rental market looks promising going forward.
Why it matters: As this piece points out, the surge in single-family housing rentals is attracting big money from major players. That could help inspire individual investors to consider their options, too.
Redfin (NASDAQ: RDFN) reported today that its data shows places like the Jersey Shore, Cape Cod, and Bend, Oregon, are attracting new homeowners fleeing big cities because of the pandemic, and they’re driving up prices.
Why it matters: The online listing and sales brokerage also lists where sales are cooling off, indicating where these movers are moving from. It makes interesting reading for anyone considering a similar move as a place to live or invest.
“We have yet to see evidence that our environment spreads anything,” David Simon said after authorities asked his company to shut down its mall in particularly hard-hit El Paso, Texas.
Why it matters: Talk about between a rock and a hard place. Surely, mall operators and every other retailer want to do the right thing — but just what is that? Another wave of retail shutdowns could crimp any hope of a retail recovery, worsening the economic side of this devastating pandemic.
Today on Millionacres
Millionacres’ Maurie Backman parses out some new data that paints a grim picture for enclosed shopping centers.
Why it matters: Malls play a major role in some widely owned real estate investment trusts (REITs), and the pandemic has only exacerbated the retail apocalypse that was already well underway. Investors, beware.
So, what if you have a nice-sized piece of land with no development potential that’s costing you taxes while making no income? It might be great for hunting, and there are sportsmen (and women) out there willing to pay for the privilege.
Why it matters: Millionacres’ Kevin Vandenboss explains the types of leases and land needed to make a deal with hunters and when that might make sense for landowners.
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