Must Read:A startup called Roofstock plans to roll out a new platform that would let investors buy and sell fractional interests as small as $5,000 in single family rental properties.
Unsolved Mysteries: Despite record low unemployment, labor’s share of national income continues to drop, baffling economists.
Coasting: The Federal Reserve easing up on interest rate hikes could push the next recession out to 2021. See Also: The Fed has already done a lot to delay the next recession. But See: The 3 Month / 5 Year Treasury spread just inverted.
Buried: Debt among 19 to 29-year-old Americans exceeded $1 trillion at the end of 2018, according to the New York Federal Reserve Consumer Credit Panel. That’s the highest debt exposure for the youngest adult group since late 2007.
Lies, Damn Lies and Statistics: Yes, there are 1 million more auto loan defaults today than there were in 2010. However, transactions are also up and the percentage of borrowers in default is actually substantially lower than it was back then. (h/t Teryn Clarke)
Taken Over: E-commerce is increasingly dominating the United States industrial real estate market.
Copycats: Legacy real estate companies are getting into the co-working business to compete with the likes of WeWork.
Tea Leaves: Weak housing construction likely points to lower economic growth ahead.
Under One Roof: Zillow is becoming the Netflix of houses.
Infill: San Diego is trying to encourage more dense urban development and less suburban sprawl.
Double Up: West coast real estate is now so expensive that married couples are moving in with multiple roommates in order to afford a place to live.
Boondoggle: California’s High Speed Rail Authority was established to build out rail infrastructure 23 years ago. During that time China has built 16,000 miles of high-speed rail. The first phase of our (hopefully) soon-to-be-shuttered train to nowhere totaling 119 miles through the Central Valley won’t be completed until 2022.
Powder: After a long drought, record snowfall in the west has ski areas booming again.
Warning Signs: LA’s crumbling storm water management infrastructure could lead to a flooding catastrophe in the event of a 100 year storm. See Also: California’s ‘big one’ could be a volcanic eruption rather than an earthquake alone.
Chart of the Day
Source: The Daily Shot Brief
Pico de Guyo: A Tennessee man was arrested for dipping his testicles in a customer’s salsa before an online delivery after receiving a low tip on a previous order. He was busted because he posted a video of the tea-bagging incident online where it was reported to police. (I would give a h/t here but lost track of how many of you sent me this article)
Cashing In: A man stole rare coins worth an estimated $33k and dumped them in a Coinstar machine, getting about enough cash for a 12 pack because Florida.
America IS Great Again: The Lucky Charms flavored beer that you won’t drink and certainly didn’t ask for will be available in stores this weekend.
If This Car’s A Rockin’: A police officer is in trouble for allowing a couple under arrest to smoke and engage in sexual activity while in the back of a police cruiser because Florida (h/t Scott Ramser).
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