1、Life science developer giant Alexandria RE pulled out of a 600ksf project in CA, taking a $30M loss in the process. A early warning ️ sign of the sector?
2、Yardi Matrix national Al apt report for Aug, rent grow of 8-10% YOY led by Sunbelt region, are flattening out Aug vs July of 0% change.
3、For those die hard Dave Ramsey fan, he has a message to those who are still waiting for RE crashing: crashing is NOT coming, due to supply vs demand.
4、Marcus Millichap report: debt is getting more expensive. As higher rate disrupt lender’s financial, leading to wider spread to the loan borrowers.
5、“The Fed needs to pick their poison. Do you continue strong ahead to tamp down inflation at the risk of recession, at the risk of increasing unemployment? It’s truly a dilemma, but I think that given what we have heard from the Fed the focus is squarely on inflation,” said Mike Loewengart, head of model portfolio construction at Morgan Stanley.
6、The Nasdaq Composite shed 1.43% to close at 11,552.36, while the S&P 500 fell 1.13% to 3,901.35. The Dow Jones Industrial Average outperformed but still dropped 173.27 points, or 0.56%, to 30,961.82 for its lowest close since July 14.
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