News

Landmark Links April 16th – The Heist

Must Read: How New York drew up a gerrymandered district of census tracts that would make a Congressman blush in order to allow Hudson Yards developer The Related Companies to qualify for billions in EB-5 financing that was supposed to be deployed in distressed areas.

Economy

Sloping Downward: Demographic decline – while less severe here than elsewhere – is still a major threat to the US.

Flat-lining: Key measures show inflation was about the same in March as February on a year over year basis.

Not Immune: Data from the Federal Reserve indicates that America’s upper middle class is feeling the pinch when it comes to several key indicators.

Commercial

On Top: San Francisco has now passed up New York to become the most expensive city in the world to build in.

Gaining Traction: Crowd funding firms are gaining wider acceptance in the commercial real estate market.

The Never Ending Story: Investors are still waiting on clarity from the Treasury Department as to whether or not opportunity zone investment capital can be recycled and how the substantial improvement test will apply to raw land.  See Also: 20 issues to track in the second tranche of OZ guidance.

Residential

All Clear?  Yes, new home sales fell substantially last year.  However, it was nowhere close to the 20% drop that usually foreshadows a recession.

Built to Last? A stronger labor market is forming the foundation for a new housing boom that should be much more durable than the previous one fueled by lax underwriting and easy credit.

Profiles

Wasted: America’s oil patch is producing so much natural gas that there is no longer enough storage for it and producers have burnt enough to power the state of Texas.

Gold Mine: This is a fascinating visual of how tech giants make their billions.

A Tale of Two Companies: Uber and Lyft compete in the same space but differ substantially when it comes to scale.

Chart of the Day

Source: John Burns Real Estate Consulting

WTF

Repent.  The End is Near: Kim Kardashian is studying to become a lawyer.

Invaluable: A 40 year old man is suing his parents for $86k for tossing his porn collection in the trash.

Let It All Hang Out: A man was arrested for flashing highway traffic because Florida.

Go Big or Go Home: A couple robbed, beat and turned a neighbor’s face black with Flex Seal because Florida.  (h/t Dave Brooks)

Landmark Links – A candid look at the economy, real estate, and other things sometimes related.

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