In Case You Missed It: Week of May 9 – 13
Millennials and Retirees Drawn to Luxury Rentals, and Developers Respond
MarketWatch – May 12, 2016
“If there’s a new apartment building going up in your neighborhood, chances are you can’t afford to live there. Much of the new rental apartment stock that hit the market last year was of the high-end, luxury variety — and that trend doesn’t appear to be slowing down, according to a new report.”
Population Bomb, New York City
Commercial Observer – May 11, 2016
“New York City’s population reached a record high of 8.6 million in July 2015, a 375,000 increase from 2010, which has resulted in greater demand for rental housing. To put it into perspective, the city hasn’t seen such a population spike since the 1920s.”
Institutional Investors Continue to Buy Single-Family Rentals
National Real Estate Investor – May 9, 2016
“Home prices have risen sharply in many parts of the country, and bargains are hard to find. However, the largest owners and managers of single-family rental homes continue to improve their property management in markets where they own properties. They also continue to make strategic acquisitions to fill out their portfolios.”
REITs Are Coming of Age
Bloomberg Gadfly – May 9, 2016
“On Aug. 31, major market indices will no longer bundle REITs inside of ‘financials’ as an industry classification. Instead, they will reside in a new category called, surprise, surprise, ‘real estate.’”
And now for something completely different…
Here are all 20 of Max Scherzer’s record-tying strikeouts in 20 seconds
USA Today | For the Win – May 12, 2016
“Washington Nationals pitcher Max Scherzer tied the record for most strikeouts in a nine-inning game with 20 whiffs on Wednesday night while facing his former team, the Detroit Tigers. If you’re looking for the short version, Major League Baseball has it: All 20 of the Ks in 20 seconds.”
Why Do Subway Conductors Always Point After Pulling Into a Station?
6sqft – May 12, 2016
“If you’ve ever been able to tear your eyes away from your targeted entry point when the subway doors are about to open, you might’ve noticed that every time a train pulls into the station, the conductor is pointing out his window at something. And believe it or not, he isn’t calling out the crazy person screaming on the platform or gesturing to his fellow employees in the booth. This is actually a required safety precaution.”