- Renters Are Mad. Presidential Candidates Have Noticed. “Renters hold little sway in Washington. They vote at lower rates than homeowners. They’re generally represented in Congress by homeowners. They have no deep-pocketed lobbyists. And their problems, if anyone considers them at all, are typically waved off as problems for local government. It’s striking, then, that several Democratic candidates for president are now approaching renters in a way they’ve seldom been treated before — as a voting bloc.” (The New York Times)
- Big Warehouse Owner Plans to Go Public “Industrial-warehouse manager GLP is planning to take its U.S. arm public this year, according to people familiar with the matter, in what would be one of the biggest real-estate listings on record. The closely held Singapore firm has filed confidentially with securities regulators for an initial public offering that could value its U.S. business, the world’s second-largest owner of industrial warehouses, at more than $20 billion, according to people familiar with the matter.” (Wall Street Journal)
- The Right Way to Invest in Real Estate “Is it a good time to invest in real estate? Great question. It reminds me of the line by Lucy in the Charlie Brown Christmas special. She complains about how she always gets stupid toys or a bicycle when all she wants is real estate. Seriously though, buying real estate -- either actual properties or publicly traded stocks that own houses, apartments or commercial buildings -- may make sense as a way to diversify your portfolio.” (CNN Business)
- Want to Make Millions and Pay No Taxes? Try Real Estate “Real estate is a cyclical business. Markets crash. Deals sour. But hard landings are rare for a savvy property mogul, thanks to the U.S. tax code. Take Harry Macklowe, a New York City developer. Macklowe, 81, hasn’t paid income tax since the 1980s, according to a court opinion in his divorce proceedings issued in December.” (Bloomberg Businessweek)
- This Is the Country’s Most Popular Rental Market “Renters these days are blown away by the Windy City. Chicago is the most popular market for rental housing in the United States, according to a new report from Zillow ZG, subsidiary HotPads. To produce its analysis, HotPads ranked the 50 largest metro areas based on what share of rental searches were from locals and how commonly they ranked as a top search destination for renters looking to relocate.” (MarketWatch)
- Thursday Is Bring a Girl to CRE Day “Only 35% of CRE professionals are female, according to the Commercial Real Estate Women Network — a group founded in 1989 that now has some 12,000 members. The group aims to boost that figure by organizing ‘Bring a Girl to CRE Day’ this Thursday, April 25. It is the same day that many Americans celebrate Take Our Daughters and Sons to Work Day.” (Bisnow)
- You May Want to Stay at Kennedy Airport. By Choice. Seriously. “Is it possible that Kennedy Airport is going to be fashionable again? Given that J.F.K. is often voted among the worst airports in the United States; given the fraught state of many airlines today, what with Boeing’s safety concerns and the Wow Air bankruptcy; and given the general malaise around air travel as an experience to be endured, preferably with the help of some Ambien, rather than enjoyed, it’s hard to imagine.” (The New York Times)
- Lululemon CEO: The Word ‘Athleisure’ Doesn’t Define Who We Are “Lululemon’s growth strategy includes greater investments in its men’s business, opening more — and bigger —stores both in the U.S. and overseas, and branching into new product categories. Lululemon is going to start selling skin-care products this summer, for example, and it plans to start making its own sneakers. With these new investments still ahead of it, McDonald said the best is yet to come.” (CNBC)
- Scott Wiener’s SB50 Transit-Housing Bill Clears Key Hurdle After Some Changes “State lawmakers advanced a proposal to make it harder for local officials to block construction of apartment buildings around public transit after its author agreed Wednesday to carve out separate rules for more lightly populated counties. Sen. Scott Wiener, the San Francisco Democrat behind the bill to spur denser housing development in California cities, announced a deal with Sen. Mike McGuire that folded the Healdsburg Democrat’s similar but more limited measure into Wiener’s SB50.” (San Francisco Chronicle)
- In the Next Downturn, Public Markets Will Be CRE Investors’ Best Bet “We are frequently asked where the real estate investment opportunities will be during the next down cycle. Our advice is to watch for opportunities in public markets, rather than in the private markets, which defined the down cycles in the early 1990s and 2000s. A prevalence of public-market opportunities characterized the 2008-2010 downturn, and we believe this will again be the case.” (Commercial Property Executive)
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