Dangerous Delta, eviction worries mount, NYC and the NYT, haunted house opportunities, and some civic duty.
In Today’s News
Hurricane Delta Beating Down the Hatches in Storm-Weary Louisiana
According to CoreLogic (NYSE: CLGX), some 293,685 single- and multifamily homes on the Gulf Coast — homes that would cost nearly $63 billion to replace — are at risk as Hurricane Delta makes landfall today on a track that takes it over areas already storm-lashed in recent weeks.
Why it matters: Besides lives and properties once again threatened, it really does make one wonder how long hurricane-prone coasts, especially the Gulf Coast, will hold allure for investors and, at the risk of sounding hyperbolic, even be insurable.
Survey: 3.7 Million Renters Face Possible Eviction
Millions of renters believe they will be evicted from their homes in the next two months due to eviction, according to a new survey by the U.S. Census Bureau.
Why it matters: This report in The Real Deal notes that nearly half of 8.3 million renter households say they are somewhat or very likely to be evicted in the next two months. That’s a grim reminder of the roil the economy and people’s lives are still in from the pandemic and adds urgency to calls for relief from Congress and the White House.
They Want to Be a Part of It: Tenants, Buyers Finding Deals in NYC
The recovery is tenuous, The New York Times reports today, but renters are returning, buyers are getting deals, and those who stayed are finding a measure of vindication.
Why it matters: No American city, with the possible exception of San Francisco, is more pointed to as the epicenter of CRE distress and residential retreat. Not so fast, the Gray Lady says.
Today on Millionacres
7 ‘Haunted‘ Houses You Can Rent This Halloween
Millionacres’ Liz Brumer shares a rundown on seven purportedly haunted places you can stay for a night, or more if you dare.
Why it matters: Real life is so spooky right now that you might as well have some frightening fun.
Should Real Estate Investors Join a Planning and Zoning Committee?
Or you can meet some really scary characters, perhaps, by serving on a local planning and zoning committee.
Why it matters: As Millionacres’ Deidre Woollard points out, there are advantages to such service, besides serving your community. That includes learning a lot about commercial and other real estate issues plus really knowing what’s going on and where in terms of development. But it’s also a serious time commitment and could present conflicts of interest, and, potentially, put you in some uncomfortable positions. (But, at least in many jurisdictions, the committee’s decisions take the form of recommendations to a city or county council, so the buck can get passed.)