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10 Must Reads for the CRE Industry Today (April 4, 2018)

More renters are not interesting in buying a home, according to the Wall Street Journal. A CBRE survey found that aging warehouses in the U.S. are not fit to handle the e-commerce boom, CNBC reports. These are among today’s must reads from around the commercial real estate industry.

  1. More Renters Give Up on Buying a Home “A growing percentage of apartment renters aren’t interested in buying a home as affordability challenges take a bigger toll on American aspirations of homeownership.” (Wall Street Journal, subscription required)
  2. Aging US Warehouses Unfit to Handle Amazon and E-Commerce Boom “The average age of a U.S. warehouse is 34 years, according to a survey by real estate services firm CBRE. And that likely won't cut it for a retail industry that's moving increasingly toward e-commerce and fulfilling online orders for customers in the blink of an eye.” (CNBC)
  3. Five Steps To Surviving The So-Called “Retail Apocalypse” “We have been hearing for months now that shopping malls are dead. Go ahead and read the headlines, you won’t have to look far. We are in the midst of a retail apocalypse, right?” (Forbes)
  4. New York Fed Picks John Williams as President “The Federal Reserve Bank of New York said Tuesday that John Williams, who has helmed the San Francisco Fed since 2011, will become its next leader, assuming one of the top leadership positions at the U.S. central bank.” (Wall Street Journal, subscription required)
  5. Three Keys To Successful Passive Investing In Commercial Real Estate “The private investment landscape is experiencing tremendous growth and investor demand for direct access to passive commercial real estate (CRE) investments is exploding. Investors are seeing the benefits of exposure to alternative assets, and commercial real estate is leading the way as a favored asset class.” (Forbes)
  6. China Announces New Tariffs on 106 US Products, Including Soy, Cars and ChemicalsChina announced additional tariffs on 106 S. products on Wednesday, in a move likely to heighten global concerns of a tit-for-tat trade war between the world's biggest economies.” (CNBC)
  7. Turkish Candy Company ‘Owns’ Several Iconic NYC Buildings “Through a decade-old clerical error, a little-known Turkish candy company is the unwitting “owner” of several of the Big Apple’s most prominent buildings — including 30 Rock and Grand Central Terminal.” (New York Post)
  8. Private-Sector Hiring Up 241,000 in March, ADP Says “Private-sector employers expanded their workforce by a seasonally adjusted 241,000 jobs last month, Automatic Data Processing Inc. reported Wednesday.” (MarketWatch)
  9. Can Legislation Lower California’s Exorbitant Real Estate Prices? “Through shifting control of land use policy from local to regional governments, SB 827 wants to reduce the Golden State’s cost of housing.” (Pacific Standard)
  10. Conde Nast to Shrink Office Space at One World Trade Center “Condé Nast is preparing to reduce its 1 million square feet of office space inside One World Trade Center in the coming months — a move that could help it shave millions off its operating costs.” (New York Post)
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