1. One of the articles in my top ten this week published by Bloomberg discusses how some New York politicians pushed back when Amazon threatened to reconsider their Long Island City HQ2. “The astounding stupidity of a cadre of local politicians and their fight against 25,000 high-paying jobs finally reached its fruition today with Amazon’s announcement that it would not locate one of its HQ2 facilities in Long Island City, Queens.” Jim Collins from Forbes writes How To Short NYC Real Estate After Amazon’s Shock Decision To Abandon Its HQ2 In Queens. I’m sure the drama will continue. Stay tuned…
2. A STEAL OF A DEAL
The Chicago Tribune reports the Al Capone family home in Park Manor on the market for $109,900. “The Park Manor home of gangster Al Capone is on the market for $109,900. The 2,820-square-foot building on South Prairie Avenue has six bedrooms and is being sold as a multifamily unit.” I don’t know the area or what skeletons may be in the closets, but it seems like a pretty good deal from where I’m sitting.
3. GOOGLE UP
Read the CNBC article to see how Google will spend $13 billion on U.S. real estate in 2019, expanding into Nevada, Ohio, Texas and Nebraska. “Google is showing its willingness to further open its wallet, after a year in which capital spending more than doubled to $25.46 billion. Far from its roots as an online advertising giant, Google is building out data centers to bolster its cloud-computing division as it tries to keep pace with Amazon Web Services and Microsoft. “. In the article, you’ll also see the amazing dollar amount Google has spent since 2013.
4. GOOD NEWS… AND BAD
“Rather than heading for another bust, we’re still feeling the effects of the last one. Aggressive homebuilders were wiped out, and the survivors are cautious about working on spec. Smaller builders that rely on borrowing can’t supercharge construction, even if they want to, because their bankers are afraid of making loans.” Simply put by Bloomberg News, America Isn’t Building Enough New Housing. We are still cleaning up from the last mess, which means it’s unlikely to happen again in the near future.
5. UNTAPPED REAL ESTATE
NBC News posted: “New report spotlights benefits of installing solar panels on bodies of water.” Floating solar farms: How ‘floatovoltaics’ could provide power without taking up valuable real estate. “Of the 100 or so floatovoltaic installations now in existence, only seven are in the U.S., mostly at wineries in California and water treatment facilities, including the Canoe Brook Water Treatment Plant in Millburn, New Jersey. Roughly 80 percent are in Japan, where limited land and roof space make water-based solar panels especially attractive.”
6. SHACKLED REAL ESTATE
The LA Times reports This Utah real estate agent is trying to sell a jail. It’s not going so well. “After a scandal rocked the facility with allegations of abuse at the hands of jail employees two years ago, the state came in and whisked away the inmates. The contract to house state prisoners at the site was canceled. Daggett County Jail was shuttered.” How long do you think it will take to sell this piece of commercial real estate? Niche market, or just another government plunder?
7. MAKE ROOM FOR DANNY
Okay, I may have just dated myself with that heading. Sorry! Anyway, Market Watch reports this week that West Coast real estate is now so expensive that married couples are moving in with multiple roommates. “They’re part of a growing trend: The number of married couples living with roommates has doubled since 1995, according to a recent report from real estate site Trulia. About 280,000 married people now live with a roommate — and that’s particularly true in pricey cities like those on the West Coast.” I think it’s a great strategy, until it’s not. There is solace in privacy.
8. CONVENTIONAL WISDOM
“At some point in our lives, most of us will stop renting and become a homeowner. The question is, how does one know when it’s a good time to take that leap? If you’ve been thinking about taking the plunge and buying a home recently, you’ve come to the right place.” Freshome has laid out These Are The 4 Foolproof Signs You’re Ready To Stop Renting And Become A Homeowner. Are you ready to stop renting? Read the article to see if now is a good time for you.
9. AMAZON EXTORTION?
Bloomberg reports emotions are running high in New York as some politicians are saying ‘You Gotta Be Kidding Me!’ Amazon’s Threat to Back Out Shocks NYC Real Estate. “They didn’t account for Alexandria Ocasio-Cortez, the 29-year old freshly elected congresswoman, and other New York politicians who slammed the subsidies the city and state offered. That whipped up a political firestorm that may now be calling the deal into question.” Opponents such as New York State Sen. Michael N. Gianaris disagree with New York giving Amazon $3 Billion in tax breaks. When the Washington Post, which is owned by Amazon CEO Jeff Bezos, claimed the company is reconsidering coming to Queens, opponents suggest Amazon’s threat to pull out of New York as extortion.
10. MARKETING BRILLIANCE
“From the outside, it looks like a typical upscale colonial for sale, tucked in a quiet neighborhood of Maple Glen, Montgomery County.” Since the ’50 Shades of Maple Glen’: Pa. real estate listing includes a spicy adult den was listed last Thursday, ABC Action News in Philadelphia reports it has received hundreds of thousands of internet views. Marketing strategy, who knows, but folks will remember this unique listing for a very long time.
