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10 Must Reads for the CRE Industry Today (July 31, 2019)

Amazon will not buy homes but, rather provide home equipment and services amid its partnership with Reology, reports the Wall Street Journal. The New York Times looks at key topics to watch for ahead of the Fed's anticipated interest rate cuts. These are among today's must reads from around the commercial real estate industry.

  1. Amazon Isn’t Buying Your Home, Just Filling It Up “Despite some hyperbolic declarations in the press, Amazon isn’t getting into real estate, much less taking on the likes of Zillow Group and Redfin. With the partnership, home buyers referred through the TurnKey program can qualify for up to $5,000 in Amazon home equipment and services, courtesy of Realogy.” (Wall Street Journal, subscription required)
  2. What to Watch Ahead of the Fed Meeting “The Federal Reserve is almost universally expected to cut interest rates when its meeting wraps up on Wednesday, the first reduction since officials slashed them to near zero in 2008, during the dark days of the financial crisis.” (The New York Times)
  3. U.S.-China Trade Talks End With No Deal in Sight “American and Chinese negotiators finished talks on Wednesday with little progress toward ending a trade war that has shaken the world’s economic confidence and rattled markets.” (The New York Times)
  4. Compass Raises $370 Million in New Funding Round “Compass raised $370 million in a deal that increases the real-estate brokerage’s valuation to $6.4 billion and indicates the firm is nearing an initial public offering.” (Wall Street Journal, subscription required)
  5. Secondary Cities Make Up The 10 Trending Single-Family Rental Markets For Investors In 2019 “When the world is truly an investor’s oyster, deciding where to invest can feel like a herculean task. But, the good news is, there is no shortage of attractive opportunities. Coupled with solid investment returns and rental income, single-family rentals are demonstrating strong interest nationwide from investors large and small.” (Forbes)
  6. Is The Yield Curve Foretelling a Downturn?  “As we move deeper into the cycle, industry leaders are looking for potential signs of a recession, and one emerged: The 10-year/three-month yield curve has inverted. Historically, a yield curve inversion is one of the signs of an oncoming recession, and while it is only one metric, it is enough to encourage some developers to make strategic adjustments to hedge against a downturn.” (GlobeSt.com)
  7. The Need for Tech Innovation “The signs are everywhere. Investment in real estate technology increased 607 percent in Q1 2019 compared to the previous year. Real estate technology-focused events like ICSC, Realcomm and CREtech continue to break attendance records. In survey after survey, a majority of real estate executives have expressed a desire to embrace innovation.” (Commercial Observer)
  8. Steady Industrial Demand Maintains Vacancy Near Historic Lows “The U.S. logistics sector continues to thrive, but the high-flying days seen in 2018 gave way to a more sustainable level of activity in the second quarter of 2019, according to Prologis Inc.’s U.S. industrial business indicator, a survey of customer sentiment.” (Commercial Property Executive)
  9. New Jersey's Industrial Market Leasing Activity Spikes 20 Percent in Q2 “Despite seeing slightly paused growth in the first quarter of the year, New Jersey's industrial market continues to rally, with total leasing activity up 20% from the first quarter of 2019.” (World Property Journal)
  10. Ulta Beauty Opening Massive Flagship Store in Herald Square “Looking good just got easier. We hear Ulta Beauty is opening a 12,000-square-foot flagship at Two Herald Square, just east and next to Victoria’s Secret on West 34th Street.” (New York Post)
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