1、US apt retention rate slides to 54.8% in Aug, but still > 50% retention pre Covid, avg 11% renewal rent hike per RealPage.
2、MBA latest white paper designed a base-case of hybrid work model where employees RTO 2-3days/week, one of the wild card is the duration and severity of the recession coming up.
3、One sign of people’s life return to norm, is the dining reservation on OpenTable is exceeding the Pre Covid level.
4、Elon’s companies TSLA, SpaceX and Neuralink continue to expand in Austin, now his tunneling company Boring also plans 220k sf warehouse close to TSLA HQ.
5、CRE loan is expected to tank 18% from 2021 per MBA, already in sales depression now.
Mortgage demand falls 29% since last year as 30 year mortgage surged past 6% per MBA, refi demand is down 83% YOY.
6、 Fundrise founder predicted costal RE markets going to lead in home price decline, with disproportionate capital flowing into Sunbelt region.
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