Your daily summary for real estate investing, 09/16/21
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Retail sales rebound, small retailers pivot like big box, California wildfires and IRS, student debt hinders home buying, federal government loosens GSE limits.
In the news of the day
US retail sales rebound in August despite Delta variant
Sales at retailers nationwide increased 0.7% in Augustthe Commerce Department said today, despite a sharp decline in car sales linked to product shortages and shipping issues. Excluding cars, sales increased by 1.8%, The Wall Street Journal reports [subscription required].
The Millionacres takeaway: The WSJ The report says the U.S. economic recovery is showing resilience despite the latest wave of viral infections, with Americans increasing purchases and employers resisting layoffs. It’s good for all kinds of investments including immovable.
Regional and specialty retailers pivot with their big box rivals
Small retailers join their huge rivals to reinvent e-commerce operations to improve efficiency and, most importantly, to keep pace with technology and consumer expectations, Bisnow reports today.
The Millionacres takeaway: This is an interesting look at how some businesses are integrating brick-and-mortar stores with digital capabilities, and it’s a trend that could prove crucial in keeping those commercial real estate spaces occupied and paying rent.
Today on Millionacres
Impacted by the forest fires in California? This is a tax provision you should be aware of!
More than 1,968,326 acres of land have been reduced to ashes and approximately 3,050 structures have been damaged or destroyed this year. Some of the buildings that existed since the California Gold Rush are now destroyed.
The Millionacres takeaway: Our Lea Uradu, a tax attorney in her other life, says the IRS has offered some relief to victims of the California wildfires. She says fire victims should consider taking advantage of the deposit extension and the accident and theft loss provision.
Is Student Debt Stopping People From Buying A Home?
The National Association of Realtors reports that 29% of all student loan debt holders say their loans impacted their decision or ability to buy a home. And when you ask people who don’t currently own a home, it’s even worse.
The Millionacres takeaway: Our Matt Frankel Says Congress Eventually Moves To Solve US Student Debt Crisis, Could Spark Huge pent-up demand on housing Marlet. But for now, it appears that the $ 1.6 trillion in student debt held by Americans is actually hampering home ownership for millions of people.
Fed suspends new limit on federal mortgages for investors
With a request for second homes At an all time high during the pandemic, reaching a peak of 118% year-over-year increase in mortgages in September 2020, regulating the number of such loans that could be taken out made absolutely no sense of the consumer perspective. Creditworthy people wanted to buy things – why not let them?
The Millionacres takeaway: Our Kristi Waterworth writes that there is a serious need to affordable housing that investors are able to provide (if they can get the financing they need), and the Treasury Department now seems to recognize that.
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