- Hurricane Florence Creating Housing Shortage for Displaced North Carolinians “Finding temporary housing for thousands of North Carolinians displaced by Hurricane Florence could prove more difficult than it was for those uprooted by other recent U.S. storms and hurricanes.” (Wall Street Journal, subscription required)
- These Sites No Longer Make Goods. Now They’ll Get Them to You Faster. “As the United States economy continues its shift away from manufacturing, locations that once housed industries such as automobiles or chemicals are being remade as distribution hubs for the millions of items bought by consumers online.” (The New York Times)
- Hurricane Florence, Despite Destruction, Will Likely Have a Small Impact on US Economy “Despite the wide path of devastation left by Hurricane Florence, its effect on the U.S. economy is likely to be modest. The storm is projected to shave economic growth in the current quarter by one- to two-tenths of a percentage point, according to Moody’s Analytics, as residents forgo trips to the mall or restaurants and manufacturers temporarily shut down production.” (USA Today)
- Final Holdout of Times Square’s Rejuvenation to Get $100 Million Makeover “The Times Square Theater on West 42nd Street has been closed for nearly three decades, detached from the transformation of the blighted area into a tourist destination with Hershey’s Chocolate World, an Old Navy clothing store and the Nasdaq Stock Market. Now, a New York developer is reviving it.” (Wall Street Journal, subscription required)
- How Blockchain and AI led a Real Estate Firm into the Software Business “Three red bars towered on the computer screen of Justin Segal, president of the Boxer Property, a Houston commercial real estate firm. Each bar represented an office tenant that an algorithm had predicted would default on its lease. ‘So those three — we’re (probably) going to lose them,’ said Boxer Property President Justin Segal. The predictions, based on the algorithm’s analysis of a variety of data, including trends in tenant companies’ industries, would help Segal plan for the future.” (Houston Chronicle)
- Trump’s Latest Chinese Tariffs Are a $1 Billion Tax on Housing “Home builders are worried about affordability, but firm demand is holding that concern in check, for now. Home builder sentiment in September held steady at 67 on the National Association of Home Builders/Wells Fargo Housing Market Index, or HMI. Anything above 50 is considered positive sentiment.” (CNBC)
- One Year Later: Toys R Us’ Fatal Journey Through Chapter 11 “A year has passed since Toys R Us filed for Chapter 11 Since then, much of the retail world, including this publication, has obsessed over every turn of events in the retailer's case and turnaround efforts. There’s good reason for that. By assets, Toys R Us is the third-largest retail bankruptcy ever, behind Kmart and Federated Department stores, according to Bankruptcydata.com.” (Retail Dive)
- Senior Moment: The Time Is Ripe for Lending on Housing for the Aged “It’s a bet that a lot of financiers feel they cannot lose. The baby boomers are retiring. The aging population has grown. They’re going to need somewhere to live. Whether funding new projects or refinancing old construction debt, lenders of all shapes and sizes are putting up money on seniors living assets.” (Commercial Observer)
- What Would E-Commerce Look Like for a Dollar Store? “Is there such a thing as Internet resistance retail? The answer has traditionally been yes for certain types of retailers, such as those that provide services such as haircuts or manicures or offer experiences–or, as we are about to discuss, sell products so cheaply that buying them online is hardly worthwhile.” (com)
- Google May Be Planning a SoHo Store “Google is planning to open a store in SoHo after all. Three years after attempting to dispose of space it had leased on Greene Street, the tech giant appears to be arranging instead to open an outpost at the location.” (Crain’s New York Business)
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