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With the ecommerce boom showing signs of slowing, the global economy cooling and pushback from local opposition groups to massive warehouse complexes growing more vociferous in some parts of Europe, the demand for massive warehouses is beginning to wane too. While borrowing costs were extremely low, investors were buying and building warehouse space with rental yields of less than 3%. But as rates have risen, the margin between interest payments and yields has narrowed (and in some cases entirely disappeared), forcing investors to revise their calculations. (FT)
 
A Los Angeles friend and client of COMPASS Beverly Hills' Philip Berson owns a commercial property in Springfield, Massachusetts. He mentioned to Philip that it's the former home of the National Basketball Hall of Fame! Philip is a native of Massachusetts and licensed in both states. With the help of his area managers, Jay Rubenstein and Matt Ogden, he found the perfect partner in Boston, The Commercial Group...and now he is their Los Angeles Affiliate! They collaborated and have brought to market this amazing approx. $20 million commercial deal. Collaboration and referrals happen amongst both residential AND Commercial agents throughout the US' COMPASS network!.  SEE IT HERE.
 
Pioneering COMPASS Stamford Connecticut agent Staci Zampa has secured free entrance for all in the COMPASS FAMILY & Friends - to the opening of the Stamford Food Festival this coming FRIDAY.....use code {SZTeamStamford} for Friday night and come grab a drink on Staci! Don’t forget to wear your SWAG!  SEE YOU THERE! 
 
Could too much STUFF drive down inflation? In the last 3 months B&G Sales, a mass excess inventory discounter - has received more stuff than in any time in its history as e-commerce sellers and retailers are overloaded with products they can’t sell, due to higher prices and shifting tastes from stuff to experiences...and essentials. Michael Burry, the hedge fund manager who predicted the subprime mortgage crisis, predicts that the bullwhip effect would lead to disinflation later in 2022:  this could motivate the Fed to pause or reverse previous interest rate hikes.  
 
Used car prices - a good indicator - have begun to decline: non-adjusted wholesale prices in the first half of July decreased 2.2% compared to June. During the first 2 weeks of July, Manheim Market Report (MMR) prices experienced a 1.5% cumulative decline. (TIME)
 
Some are wondering why fuel consumption has come down since 2020, and while I'm certain it has lots to do with sharply higher gas prices, it may be worth noting: while the world is obsessed with all electric vehicles - and yes, may have sold in the past 3 years - if you look at the market that includes EVs, hybrids, and fuel-cell-powered vehicles, sales jumped to 442,740 in Q2 2022, an increase of 12.9% from 2021. Electrified vehicles now account for 12.6% of the U.S. market last quarter. While a hybrid car uses gasoline, the average Toyota Hybrid is achieving about 50 mpg.....that's close to DOUBLE the fuel efficiency of most US all-gas cars.
 
New Jersey, Massachusetts and New York have the highest rate of insured drivers. Fewer than 4% are uninsured. Louisiana and Montana have seen car insurance rates soar over 30% between 2015-2021. Car insurance has gone down over 20% in that same period in Connecticut, Arkansas, New Jersey, Illinois and Ohio. Maine, Idaho and Iowa have the lowest car insurance. Monthly costs of homeownership matter....but there are other costs that matter too: $300 per month on car insurance is not nothing.....

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