Must Read: Investment in real estate tech companies is up 607% year over year – from 1.6B in Q1 2018 to $9.9B in Q1 2019. However, that number gets substantially lower – albeit still impressive – if the $6B that WeWork raised from Softbank is excluded.
Big Tent: Everybody seems to identify as middle class these days, partially because regional inequality has made the concept extremely difficult to define.
Don’t Call It a Comeback: Mid-size metros are growing faster than large ones.
One Size Doesn’t Fit All: Why you should be wary of over-arching economic theories that claim to explain everything.
Turnover: Bank branch closures are increasing thanks to online banking but the suites that they leave vacate are perfect for healthcare facilities and co-working.
Positive Development: The latest round of Opportunity Zone guidance looks good for developers and investors with positive movement on the timeline to invest cash, as well as a one-year grace period to sell assets and reinvest the proceeds, and loosening provisions for investments that include raw land. At the moment, it looks as thought the government is going to bend over backwards to make this work if they have to.
Cost of Admission: Here’s what you need to earn to afford a home in the biggest US cities. As you probably guessed, San Francisco and the Silicon Valley are in an entirely different league than pretty much everywhere else.
Surprise, Surprise: A recent study found that luxury housing construction does not increase nearby rents in gentrifying neighborhoods. See Also: SB50, which would allow denser development near transit stops throughout California just crossed a major hurdle.
On A Roll: James Holzhauer is on pace to set an all time winning record on Jeopardy and he’s doing it a lot quicker than the current record holder, Ken Jennings. In the process, his aggressive style of play is likely wreaking havoc on the game show’s budget.
If You Can’t Beat ‘Em: Kohls is going to start accepting Amazon returns in all of its stores.
Split Decision: Consumers (and investors) love Uber Eats but restaurants do not.
Chart of the Day
Existing home sales came in weak for March
However, mortgage applications were strong, possibly foreshadowing a turnaround in next month’s report
Source: The Daily Shot
Gotta Hear Both Sides: A woman shot and killed her husband after she found out that he subscribed to a porn channel on their Satellite TV service because Arkansas.
Who Could Have Guessed: The company that raised millions of dollars to build a $16,000 machine that folds laundry for you has gone bankrupt because HBO’s Silicon Valley is apparently a documentary.
Sign of the Times: Plastic surgeons have developed a way to transform belly fat into a six-pack because people are lazy AF.
Landmark Links – A candid look at the economy, real estate, and other things sometimes related.
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