- LA.’s Real Estate Industry Enters the Age of Bitcoin “A little over a year ago, in a first for Southern California, a buyer used roughly 3,300 bitcoins to buy a Cape Cod-style mansion in Manhattan Beach for $3.225 million. Had he waited a year, that same number of bitcoin could've bought multiple beach houses, a few penthouse condos and a private island in the Caribbean. So it goes in the volatile get-it-while-you-can nature of cryptocurrency deals in the real estate industry.” (Los Angeles Times)
- White House Preparing to Nominate Richard Clarido as Fed’s No.2 Official “President Donald Trump is likely to nominate Columbia University economist Richard Clarida to become vice chairman of the Federal Reserve Board, according to people familiar with the matter. Mr. Clarida is a Republican economist whom colleagues describe as more of a pragmatist than an ideologue.” (Wall Street Journal, subscription required)
- Off-Price Retailer TJX Cos. May Face Competition from Thrift Stores “The biggest competition to the TJX Cos. off-price retail model may not be department stores but thrift stores, according to Cowen analysts.” (MarketWatch)
- Cramer: Don’t Be Fooled—Retail REITs’ Stocks Are Still Very Risky to Own “On a rough day for the stock market in which the Dow Jones industrial average plunged nearly 600 points, CNBC's Jim Cramer noticed one stock group trading surprisingly well: retail-focused REITs, or real estate investment trusts.” (CNBC)
- Hollywood’s Obsession With Skyscrapers “The love of filming in the air continues, but today cinematic skyscrapers increasingly play the role they do in real life, as the homes of the rich and powerful. And just like real-estate developers, filmmakers seem engaged in a race to place characters in ever bigger, taller and more luxurious high-rises.” (Wall Street Journal, subscription required)
- Investing in California Real Estate? Here Are a Few Things You Should Know “The overriding consideration in the big California markets this year is how long you plan to be invested. If you're a home builder or rehabber who will finish your project soon, if you're a speculator who will flip an acquisition, if you plan to split a property into several rental units or condos, if - in other words - you have an investment horizon of only a couple of years, now is a great time to invest in California property.” (Forbes)
- Best Buy Will Be Vanishing From Your Mall – Here’s What That Means for Investors “Best Buy is closing a ton of stores – it’s about time. Meanwhile, new Fed Chairman Jerome Powell returns to Capitol Hill to spook the stock market again.” (TheStreet)
- This REIT Is Printing Money “This week Easterly Government Properties (DEA) announced fourth quarter and 2017 year-end earnings results that were largely in-line with expectations as the mid-point of the newly introduced 2018 guidance range both reflected consensus expectations.” (Forbes)
- Why Your Next Real-Estate Deal Might Involve a Robot “It’s the brave new world of real estate by robot. A new crop of companies is introducing technology they say will reshape how property is rented or sold.” (Wall Street Journal, subscription required)
- Affordable Is Going Mod: City Wants Developers to Take on Prefab Construction “In 2012, Bruce Ratner claimed Forest City had “cracked the code” on modular technology — a phrase that would come back to bite the developer as litigation, delays and other issues piled up at 461 Dean Street, the city’s first prefabricated high-rise. Now, noting the troubles at Pacific Park and elsewhere, city officials are aiming a little lower.” (The Real Deal)
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