News

Landmark Links December 15th – Back Up the Truck

Lead Story….  I’m fairly certain that cocktail party investment banter has been a thing for as long as cocktail parties have.  Around ninety percent of the time it’s fairly innocuous and not all that focused on any one asset class in particular – “so and so put his kid through college by investing in Apple […]

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Landmark Links December 12th – Schadenfreude

Lead Story…. If I were asked to create the ideal commercial real estate investment vehicle for the general public, it would be transparently priced, have a strong liquidity profile and a low fee structure.  The non-traded REIT, which is basically everything that I wrote in the preceding sentence, just the opposite is possibly the worst […]

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Landmark Links December 8th – Scare Tactics

Lead Story… Pretty much every major industry group in the US today has some sort of advocacy arm that puts out PR statements on it’s behalf.  These statements often run the spectrum from self-serving at best to disingenuous at worst.  The National Association of Realtors is no different and has built one of the most […]

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Landmark Links December 5th – Plant Lives Matter

  Lead Story… Every now and then I come an article that perfectly encapsulates the absurdity of today’s land use politics – especially in California – and their toxic influence on the housing affordability crisis.  Conor Dougherty of the New York Times wrote one such article last week (h/t Senet Bischoff).  The story was about […]

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Landmark Links December 1st – Pump You Up

  Lead Story…. Over the past few months, I’ve written several times about how restaurants have come to be viewed as a savior of American retail.  I’ve also pointed out why I think this will end poorly as restaurants are getting overbuilt and facing labor and rental cost pressures in addition to pressures from delivery […]

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Landmark Links November 28th – Foundational Issue

  Lead Story…. When I graduated college in 2001, I did not immediately enter the wonderful world of real estate finance.  I had worked as an intern for an investment bank in London while an undergrad and wanted to return full time upon graduation.  Being a naive college kid, I foolishly put all of my eggs […]

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Landmark Links November 21st – Sacred Cow

  Lead Story….  I’ve used the past few Landmark Links lead stories to talk about tax reform in general and it’s impact on the real estate market in particular.  Last Friday’s post focused on how proposed (now passed in the House) reforms favor commercial real estate investment over home ownership.  I ended that post by […]

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Landmark Links November 17th – Winner Winner Chicken Dinner

  Lead Story…. I’ve spent the last couple of weeks writing about how challenging it is to accomplish substantial, positive tax reform and also noting how the current proposal would have substantial negative effects on an already un-affordable housing market – especially in major west coast cities. Today, I want to take a look at […]

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Landmark Links November 14th – Disincentives

  Lead Story….. This is the final post of a three part series that I’m writing about “the middle class,” tax reform and why it is so difficult to achieve in today’s environment. Primum non nocere is a Latin phrase that means “first, do no harm.”  It is often incorrectly attributed to the Hippocratic Oath which many medical school […]

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Landmark Links November 10th – Disconnected

  Lead Story…. This is Part II of a three part series that I’m writing about “the middle class,” tax reform and why it is so difficult to achieve in today’s environment. My post on Tuesday of this week focused on how it’s essentially become impossible to craft policy to benefit the middle class on a […]

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