Other Seeking to diversify and innovate, Bill Gates becomes largest private holder of U.S. farmland Bill Gates is now runaway leader as the largest private owner of farmland in the…
Other Why still-cautious consumers could spend big in 2021 Sharply rising household savings, booming house prices, strong financial markets and unprecedented fiscal support have…
Other PIMCO cyclical outlook: Bounded optimism on the global economy In Cyclical Outlook: Bounded Optimism on the Global Economy, authors Joachim Fels, PIMCO global economic advisor,…
From the Current Issue Profile: Mike LaMena, CEO of Wealthspire Advisors, and the entrepreneurial impulse by Mike Consol There are two lessons Mike LaMena learned early in life: (1) the value of recognizing when you have made a mistake, and (2) acting boldly to correct that mistake, even when it entails a measure of embarrassment.
From the Current Issue One billion Americans: Expanding the U.S. economy through strategic population growth by Mike Consol Think about what makes the United States truly powerful. One could argue it’s the millions of people the world over who want to emigrate here. That is among the most powerful elements of so-called soft power that makes the United States influential beyond all other nations, and what has attracted the world’s brightest and most ambitious minds to our country, people who played huge roles in building American industry, not the least of which is the formation and innovations of Silicon Valley. Witness the recent study by the National Foundation for American Policy that found 55 percent, or 50 of 91, of the country’s $1 billion startup companies, had at least one immigrant founder. Another study concluded one-quarter of new businesses are founded by immigrants.
Commodities Cryptocurrencies drop $100b, BlackRock invests in market Bitcoin slumped for a second day Thursday, taking the digital currency’s losses to more than…
Real Estate Family office increases allocation to real estate in 2020 There was an increase from 30 percent in 2019 to 42.9 percent in 2020 of…
Energy Bloomberg: Energy transition attracts $500b in investments, but much work left to be done The world committed a record $501.3 billion to decarbonization in 2020, despite challenges brought on…
From the Current Issue The growing divergence between gateway and secondary markets for multifamily performance by Chris Nebenzahl and Paul Fiorilla When the multifamily market’s history is written, the year 2020 will shape up to be a tale of two cities — or at least a tale of two types of cities. Gateway markets (Boston, Chicago, Los Angeles, New York, San Francisco, Washington, D.C., specifically their urban cores) have seen some of the worst performance and sharpest declines in fundamentals in recent history. COVID-19 has forced businesses, restaurants and cultural gathering locations to close, and thus keep individuals at home for long stretches of time.
From the Current Issue Apartments today and tomorrow: COVID-19 and a new generation tests the resiliency of multifamily by Lisa Robinson Historically, commercial real estate has provided the strongest risk-adjusted returns over other investment products, including stocks and bonds, and the real standout performer among the asset classes, in recent years, has been multifamily. Unlike the office, retail and industrial sectors that rely heavily on job growth to support demand, multifamily demand is largely derived from population growth. Additionally, unlike the other asset classes, multifamily fulfills a fundamental human need: shelter. It’s a utility that is immune to the vagaries of the stock market and the economy, which is why, even at the height of the global financial crisis, overall multifamily occupancies never dipped below 92 percent.