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5 at 5: Your Daily Digest for Real Estate Investing, 07/21/2020


Jul 21, 2020 by Marc Rapport

Forbearances fall, Men's Wearhouse joins list of coronavirus-caused closings, Brookfield buys homes by the thousands, short-term leases might be a new thing, and wither hospitality REITs?

In Today's News

MBA Says Forbearance Rolls Shrink for Fifth Straight Week

The Mortgage Bankers Association (MBA) says the total number of loans in forbearance nationwide has dropped to a two-month low. A return to work for many is responsible, the MBA says. Still, 3.9 million homeowners remain in such plans.

Why it matters: This is a closely watched metric and a hopeful sign that millions of Americans may keep their mortgages, and their homes, while the market waits for what's feared to be a wave of delinquencies and foreclosures when this first massive group of forbearances end.

Tailored Brands (NYSE: TLRD) Eyes 500 Stores for Closing, Idles 20% of Corporate Workforce

Citing the pandemic, the parent company of Men's Wearhouse says it plans to close hundreds of stores and lay off 20% of its corporate workforce.

Why it matters: Men's Wearhouse and Jos. A. Bank are highly visible brands that have dressed boys for proms and men for weddings for a generation or more. More to the point, these are more shopping center staples biting a lot of dust. Retail real estate investment trusts (REITs) will likely feel the pinch.

Brookfield Takes Over Renter of 10,000 Homes

Bloomberg is reporting today that Brookfield Asset Management (NYSE: BAM) has bought a controlling stake in Conrex, a landlord for more than 10,000 single-family rental homes across the Midwest and Southeast.

Why it matters: This is a $300 million shot across the bow for individual investors trying to compete with corporate giants to secure deals at the lower end of a housing market where millions of Americans live and work.

Today on Millionacres

Will COVID-19 Spur a Short-Term Lease Trend?

Committing to a long-term lease may seem pretty unappealing in today's pandemic-pummeled economy. Millionacres' Maurie Backman looks at what may be an emerging alternative.

Why it matters: Well, offering short-term leases might be something that the more flexible individual investor can do to gain an edge over the corporate competition. And with affordable housing at a premium, filling vacancies might not be so difficult each time.

Are Hospitality REITs a Buy As Properties Reopen?

Millionacres' Matthew DiLallo takes a look at why, despite reopenings, it might be best to wait a spell before pressing the "buy" button on some beaten-down hospitality REITs, including the owner of the iconic, and massive, Gaylord hotel resorts.

Why it matters: Ryman Hospitality (NYSE: RHP) shares its name, and ownership, with the legendary Ryman Auditorium in Nashville. Thinking of diving back in? Elvis may have sung it best.

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Marc Rapport has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Brookfield Asset Management and Ryman Hospitality Properties. The Motley Fool has a disclosure policy.

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