TwoX

Real estate and other musings

[TwoX @TwoPointZeroX]

@MichaelFFlorio Zay Jones tonight, or take risk on Courtland Sutton playing? Goodwin on wire option if Sutton doesn’t play.

[TwoX @TwoPointZeroX]

Homebuilders will continue to give away market share to SFR/BTR for the foreseeable future. https://t.co/SQX6Vyz377

[TwoX @TwoPointZeroX]

@GoodGuyGuaranty @seandsweeney @shawngorham @mhprvpmvp That and an Ivy League degree is an easy CYA box check for institutional LPs, similar to the way corporations use Bain, McKinsey etc to rubber stamp ideas for their boards.

[TwoX @TwoPointZeroX]

@GoodGuyGuaranty Next gen street meat

[TwoX @TwoPointZeroX]

@StudentRentPro I still vaguely describe our well located senior house to people who went to the same college as me and they know exactly which one I’m talking about almost immediately.

[TwoX @TwoPointZeroX]

@moseskagan Depends on the pitch. If your building serves lower price point new Class A development should be positive as it ideally introduces higher rents you can comp off of and shows investment into market. But if the buildings are competing for the same tenants then I agree with you.

[TwoX @TwoPointZeroX]

BX making a bet, like many others, that resi and commercial HVAC systems will need to undergo massive efficiency upgrades to comply with environmental regulations in the future https://t.co/OiYo3qORET

[TwoX @TwoPointZeroX]

@MRossG199 Curious how this plays out given Q3 deals were agreed to a long time ago. Every major REIT reporting so far said cap rates up 100 - 150 bps but caveating these were hard to pin down given “virtually no transaction volume”. Different capital cost than typical MF buyer however.

[TwoX @TwoPointZeroX]

https://t.co/OOjUd6JrTa

[TwoX @TwoPointZeroX]

@StudentRentPro My first year living in a house in college we arrived and a squatter greeted us and refused to leave. He had pawned off all of the metal in the house. We asked for a month free and a carpet clean but the LL told us he’d replace the doorknobs but otherwise tough shit! Growth.

[TwoX @TwoPointZeroX]

Currently in North Dakota and all I see are help wanted signs

[Jason Furman @jasonfurman]

How does the economy today compare to what CBO expected pre-pandemic and pre-massive policy response to the pandemic?

Real GDP is slightly lower than was expected.

[TwoX @TwoPointZeroX]

EQR says cap rates have risen from 3.5% to 5.0% in top markets on 3Q earnings call. Can’t make acquisitions pencil, but expect to soon.

[Eric Weatherholtz @iononrecourse]

Instead of grave dancing, a plausible goal in this environment is acquiring a few terrific properties at a halfway decent price.

[TwoX @TwoPointZeroX]

@dfwaaronlayman This view, adopted by politicians at scale, is why 90% of NYC public housing is falling apart.

[TwoX @TwoPointZeroX]

@TheRealEstateG6 @c_huss Those options aren’t available for cash-in refi’s I’m hearing about. A lot of can kicking already happened during COVID, particularly in markets like NYC. LPs / Banks done waiting and won’t wait for rate relief while staring down a recession. agreed easiest if available though.

[TwoX @TwoPointZeroX]

@TheRealEstateG6 @c_huss What other option does LP have if they don’t want to cash-in?

[TwoX @TwoPointZeroX]

@drgurner This will be an unpopular take with the Twitter crowd, but genuine relationships are usually easy to maintain. I guess it depends on your definition of “socially popular” but cutting back certain social activities for 3, 5, even 10 years shouldn’t impact strong relationships.

[TwoX @TwoPointZeroX]

@c_huss Lack of users in market, but at least this area is generally well connected with solid amenities that appeal to a range of employees. Should move at right price point. 25 Kent, Dock 72, not so much. Both were struggling pre-pandemic.

[TwoX @TwoPointZeroX]

@GoodGuyGuaranty @PinkPoloShorts @EllliotttB Includes charts in IC memo, footnotes source with size 2 font.