After the shock of COVID-19, the U.S. industrial market is expected to bounce back stronger than previously forecasted. In fact, demand will more than triple the previous forecast based on new metrics that CBRE Econometric Advisors has developed using e-commerce data. Annual rent growth will be higher than it was pre-COVID-19 and this increased demand […]
Call it what you will. The Covid-19 pandemic. The Great Lockdown. The Coronavirus Recession. Whatever label you give it, it remains unprecedented. Never in history has more than 60% of the global population come under this kind of lock-and-key restrictions all at once. The effects of the shutdowns range country to country. But in the […]
In over 30 years of involvement in US real estate, I have never encountered a dilemma in institutional office investment similar to what we are experiencing today. About half of my peers at Barings, and around the industry, are expecting a decline in office demand as they envision WFH becomes the norm and businesses move […]
Each month we present some statistics in the raw from Macrobond. This month UK and US lending and house prices. United Kingdom: Total amount of household loans outstanding in April 2020: 1.77 trillion GBP Change since same period previous year: -4% As percentage of GDP: 81% Number of mortgage loans approved in April 2020: 15 […]
Assuming the U.S. elections still happen in November 2020– how might that affect the U.S. economy and investment returns going forward? While no one can yet predict the outcome of the November election – it may be instructive to look at what has happened over the past 40 years. Reviewing the 2-year election cycles to see what […]
SUPPLY/DEMAND In recent years, industrial demand in the Puget Sound region of Washington State has been insatiable. Driven by our two major ports, Washington is the most trade dependent state in the country. Major companies are REQUIRED to do business here and consequently need high-quality distribution warehouse space to support their operations. Barring periodic market […]
Netflix has added twice as many new subscribers as it expected during lockdown. I am one of them, signing up to watch “The Last Dance”, a documentary based on Michael Jordan’s final season with the Chicago Bulls. I loved the series, reacquainting myself with childhood heroes. But there is something strange about watching basketball from […]
Michael Levitt is Professor of computer science and structural biology at Stanford Medical School and winner of the 2013 Nobel Prize in chemistry. He has been a close observer of the pandemic and the response from the outset through its movement to Europe, the U.K., and the U.S.. On May 2, 2020, speaking to the […]
It’s a bit of a bold statement, but before we talk about why, let’s first of all go through what’s in it. The black line is my composite valuation indicator for treasuries, and it’s showing them just over 2 standard deviations expensive. The blue line is an equal weighted average of my valuation indicators for US equities, […]
When your ideology states that climate change is the most important thing facing the world and some pesky pandemic has the poor judgement to interrupt The Cause, you need to act fast. There must be something that connects the pandemic back to my virtue signaling venture, thought the novelist and vegetarian activist Jonathan Safran Foer, […]
