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Real estate rocks in today’s rally, our take on the vaccine news and Biden victory, a Millionacres debate on gentrification, and whither goes Wayfair, goes the housing market.
The Millionacres Take on Today’s News
Shining some light from the end of the coronavirus tunnel helped power a stock market rally today, and some real estate investment trusts (REITs) went along for the ride. Declaring the winner of the presidential race helped, too.
Why it matters: While markets don’t like uncertainty, not all segments surged today. What did and didn’t can help inform your investing strategy going forward.
Millionacres’ Maurie Backman takes a look at what today’s announcement from Pfizer (NYSE: PFE) and its German partner really says and why it matters to real estate investors.
Why it matters: A proven vaccine that can be quickly mass-distributed could be just the medicine for both a battered economy and endangered species: us. But there’s still a long way to go before both REIT and direct real estate investors can breathe easy.
Maurie also points out that mask mandates, a possible new tax break for new homeowners, and vanishing tax breaks at the upper end for 1031 exchange investors could be on the near horizon when Biden moves into the White House.
Why it matters: No matter how you feel about the outcome, this election will bring about changes in the real estate business. Now’s the time to get them on your radar.
Also Today on Millionacres
A pro-con look at gentrification kicks off our new, occasional series of debates on timely topics presented by Millionacres writers.
Why it matters: There are two sides, and sometimes more, to every argument. Here, Laura Agadoni goes to bat for gentrification as a must-have, while I share how such improvement can, and should, happen without the demographic side effects.
The home and office furnishings company just wrapped up a whale of a quarter, and as Millionacres’ Deidre Woollard points out, that says something about the greater market.
Why it matters: Deidre notes home improvement interest tends to track with higher housing prices, and Wayfair’s (NYSE: W) success is being driven by not only individual homeowners but also real estate agents, home stagers, house flippers, corporate clients, and all the businesses that rely on Wayfair furniture to outfit their offices. Together, they may all be riding the same wave in a rising tide that investors should watch.
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