Work from home stresses office values, Florida sees people coming and going, Mrs. O’Leary’s cow reappears (at least in this house listing), alert for flippers about foreclosures, and the Restaurant Revitalization Fund is here.
In Today’s News
The Millionacres takeaway: This assessment was done by Fitch Ratings using eight years of transactions — from 2012 to 2020 — involving commercial mortgage-backed securities (CBMS). If white-collar workers indeed stay at home permanently in droves, the stress is really going to be felt by the owners of all that empty office space.
The Wall Street Journal reports that [subscription required] — despite the hype — thanks to hurricanes, heat, and red-hot home prices, the Sunshine State’s population growth hit its lowest rate since 2014 during the pandemic
The Millionacres takeaway: Lots of high-dollar homes are still selling like hotcakes in Florida, but clearly it’s not for everyone. One resident’s comment in this piece about watching the storm tracks for weeks on end hits home for this South Carolinian, too, but I live way inland. On or near the coast? Definitely stressful.
A Chicago real estate agent says the son of the woman whose cow is sometimes blamed for starting the Great Chicago Fire built her an Englewood mansion, which is now being listed for $535,770. The New York Times says [subscription required] historians are skeptical
The Millionacres takeaway: Fun read here. We can say “fun” since we weren’t there in 1871 when the blaze ravaged 2,000 acres of cityscape. The object lesson is to be cautious of claims about a home’s historic past — especially if those claims are adding to the price tag relative to the property’s surroundings.
Today on Millionacres
According to a new report from ATTOM Data Solutions, foreclosures jumped 16% between January and February, and in 29 states, they’re trending upward.
The Millionacres takeaway: If you’re a home flipper or rental investor, it might seem like a glimmer of hope — especially if distressed properties are your typical go-to purchase. But is it actually reason for optimism just yet? Our Aly Yale provides answers and strategies here.
The American Rescue Plan — all $1.9 trillion of it — signed into law this week by President Joe Biden, includes $25 billion in direct aid to America’s food service and drinking establishments in the form of Restaurant Revitalization Fund grants.
The Millionacres takeaway: While this is just one small piece of the pie — even more is going to housing aid, too, for instance — if the restaurant recovery is dramatic enough, many CRE investors may not just eat better but sleep better, too.
The Motley Fool has a disclosure policy. Editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. Editorial content from Millionacres is separate from The Motley Fool editorial content and is created by a different analyst team.
Video: Why data centers were the top real estate sector of 2020 (CNBC)
Got $1,000? The 10 Top Investments We’d Make Right Now
Our team of analysts agrees. These 10 real estate plays are the best ways to invest in real estate right now. By signing up to be a member of Real Estate Winners, you’ll get access to our 10 best ideas and new investment ideas every month.
Find out how you can get started with Real Estate Winners by clicking here.