- U.S. Restores Steel, Aluminum Tariffs on Argentina and Brazil “President Trump on Monday said he would restore tariffs on steel and aluminum imports from Brazil and Argentina, saying both nations have been devaluing their currencies. Mr. Trump made the announcement, which hadn’t been expected, on Twitter. ‘Brazil and Argentina have been presiding over a massive devaluation of their currencies, which is not good for our farmers,’ the president wrote.” (Wall Street Journal, subscription required)
- In 2019, Almost Every Investment Worked “This year is shaping up to be one of the best ever for investors of all stripes, with nearly every single asset class on track to finish 2019 in the green. From stocks to government debt to corporate bonds to commodities, no matter where you went, you reaped a profit this year. The S&P 500 is up more than 25% and counting. Treasurys, which tend to fall when risk assets rally, also gained in 2019. Oil, gold and corporate bonds all scored double-digit returns.” (CNBC)
- Landlords Hits Brooklyn McDonald’s with Super-Sized Rent Increase “A Brooklyn McDonald’s isn’t lovin’ a massive rent increase proposed by a new landlord. The golden arches outpost on Atlantic Avenue in Prospect Heights, which recently underwent extensive renovations and extended its lease through 2039, claims Vanderbilt Atlantic Holdings LLC — eager to get the eatery out so it can build “lucrative, high-density” housing — is turning the screws.” (New York Post)
- These Housing Markets Will Feel the Biggest Impact from the ‘Silver Tsunami’ “The U.S. housing market will soon see a ‘Silver Tsunami.’ As baby boomers reach their golden years, a growing number of homeowners across the country will pass away. And with their passing, these seniors will leave behind millions of homes. And millions more boomers will choose to sell their homes as they downsize or move to retirement living facilities. In the decade between 2007 and 2017, around 730,000 homes hit the market that were previously owned by seniors each year.” (MarketWatch)
- Why Downtown Oakland Is Booming “For the first time in more than a decade, Oakland’s skyline has a new office tower — and many more to come. Last month, health insurer Blue Shield of California began moving 1,200 workers to 601 City Center, a 24-story building a few blocks west of the 12th Street/Oakland City Center BART Station.” (San Francisco Chronicle)
Five Must Reads for CRE Investors Today (December 2, 2019)
President Trump plans to restore steel and aluminum tariffs on South American countries, reports the Wall Street Journal. Almost every type of investment turned out to be profitable in 2019, according to CNBC. These are among today’s must reads from around the commercial real estate industry.