As can be seen in the accompanying chart, after years of steady decline, the unemployment rate spiked notably in March of 2020. This surely is caused by the earlier stages of the COVID-19 Pandemics, and thus will likely be even higher in April. Higher unemployment is bad for the economy, and in turn for commercial […]
In my practice I’ve noticed a dearth of moderate sized, 7,000 to 10,000 square feet, light industrial properties. There are numbers of older properties, many of which predate the widespread use of the container ship and the consequent dominance of the modern semi-trailer truck. Older buildings frequently have lower ceilings, lack dock height loading, and […]
A recent post by the St. Louis Fed, The Economic Effects of a Pandemic, discussed the economic effects of the Spanish Influenza of 1918-1920, referencing the chart, embedded herein, of average hourly earnings in various United States sectors. According to the Centers for Disease Control and Prevention, the Spanish Flu pandemic infected about a third […]
Just watching the first couple of minutes of this video, then skipping through a bit, one quickly realizes just how much things have changed in the past couple of decades. At that time, indoor malls had become dominant on the retail landscape, but this dominance had only taken hold in the prior decade or two. […]
Years ago I was the owner of multi-unit franchise territory for Aaron’s Sales & Lease Ownership stores. My territory was in New England, initially in the northern part of metro Boston, then later extending to cities in southern Maine. Upon executing an agreement for territory with the franchisor, I began driving my markets, getting to […]
In this short video, Dade Construction presents a tour of the new Venture X space at 8350 NW 52 Terrace, Suite 301, in Downtown Doral. Venture X is a co-sharing franchise with locations in Texas and Florida (so far?). The company was founded by entrepreneur and real estate investor David Diamond and his son Brett Diamond. As […]
As can be seen in the accompanying chart, the unemployment rate remains low at 3.5%. It has, however, crept up from its recent even lower -the lowest since 2007 – levels of 3.0%. These minuscule levels of unemployment are a marked improvement from the 12.4% peak reached in 2009 following the subprime mortgage crisis. An […]
An office property study was recently published by COMMERCIALCafé that details how much office space the top 20 U.S. markets have added in the past 10 years. Perhaps more interestingly, they also look at where this space was added within these markets, central business district (CBD), urban, or suburban. In the state of Florida, 30.5 million square […]
In this quick clip sure to be fascinating for all in the Miami area, whether owners of commercial property or not, one is able to watch the probability cone, aka the cone of uncertainty, for Hurricane Dorian change over time as the storm progressed through the Atlantic. For those of us that lived through […]
Best house in a bad neighborhood. (via @CreditSuisse) pic.twitter.com/W82CA7qJlD — Carl Quintanilla (@carlquintanilla) September 3, 2019 As can be seen in the chart in this “best house in a bad neighborhood” tweet by Carl Quintanilla, the leading economic indicators for the United States have declined significantly, of late registering below 100. However, as indicated by […]
Above is a chart from the Federal Reserve Bank of St. Louis of the net-exports-to-GDP ratio for the United States. Notably, it has been negative since the late 1970s, and for the last decade or two has been considerably less so that its most negative dip in 2005 or so. Economists have proposed various reasons […]
There has been considerable discussion of late, and for that matter in recent years, of the Fed’s dwindling reserve of firepower to help mitigate the next recession. It has been a while, but surely one will come at some point. They always have. Former Treasury Secretary Larry Summers sums the situation up nicely with a […]
1/3 St. Louis #Fed: Does the recent flattening of the #yieldcurve portend #recession? Not necessarily. The flattening of the real yield curve may simply reflect the fact real consumption growth is not expected to accelerate or decelerate from present growth rate of about 1% y/y pic.twitter.com/Hvf7Phlcwq — Don Curren (@dbcurren) August 20, 2019 This is […]
Longest US economic expansion also means many adults have experienced one or no #recession via @SoberLook @washingtonpost @jkempenerg pic.twitter.com/T8U5kV3Nku — Gregory Daco (@GregDaco) August 19, 2019
The complete report can be viewed here. Some highlight relevant to Miami and South Florida overall include: The usual suspects open the list of the most expensive areas to rent in South Florida. In July, Fort Lauderdale rents have reached $1,948, and those in Miramar, $1,886. Davie is rapidly catching up, with rents averaging $1,829, […]
Excluding the US 45% of corporate investment grade bonds globally trade at negative rates! @DeutscheBank via @SoberLook pic.twitter.com/Es9ePhDxVH — Adam Tooze (@adam_tooze) August 15, 2019 This most definitely goes under the heading of “different.” For commercial property investors considering cap rates, the heading might be “consider the alternative.”
