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New york times wirecutter site behind11/12/2022 ![]() Amazon’s Logistics Pullback Grows to Affect 66 Warehouses“The list of operating and planned distribution facilities from which Amazon is pulling back continues to grow.Despite a slower pace of warehousing product coming online due to higher development costs, longer lead times for materials, and more grassroots organizations opposing commercial development in certain markets, demand remains significantly higher than the delivery pipeline for new industrial space in the Northeast.” ( Commercial Observer) Vacancies are historically low, rents continue to set records across most markets, and developers are starting to slow the pace of delivery, which drives demand even further. The Boom Times in Industrial Real Estate Are Far from Over“Looking at current supply and demand data for the industrial market, there are no signs of any impending slowdown.economy to enter a recession before the end of 2023, and 72 percent said that they see a global recession happening at about the same time.” ( Commercial Property Executive) While nearly 60 percent of the survey’s respondents say that their companies are growing, three quarters expect the U.S. The survey received 175 responses from all regions of the world. CoreNet Global Poll: Inflation and Recession Fears Affecting CRE“A survey conducted by CoreNet Global from June to September 2022 has found a strong link between the high rate of inflation, recession fears and a number of corporate real estate decisions.Listed property stocks in the euro area carry net borrowings of 14 times their projected earnings before interest, taxes, depreciation and amortization on average, according to Bank of America, compared with six times in the U.S.” ( The Wall Street Journal) While interest rates have been rising faster in the U.S., Europe’s real estate owners look more vulnerable to pricier debt. Commercial landlords who learned useful lessons about debt since then-except to carry less of it-face a slow reckoning. Property Faces Slow Reckoning as Interest Rates Rise “For property owners, rising interest rates bring back uncomfortable memories of the years leading up to the 2008 financial crisis.The drop snapped a 20-month streak of price hikes and offered the first sign of relief for renters stuck with few alternatives.” ( Insider) ![]() Rents fell 0.1% through August across the US's biggest metropolitan areas, according to new data published by. But with the slowdown in the housing market, there is finally some good news for renters. Rents Are Falling in 27 of the U.S.’ Biggest Cities and Still Rising in 8 “As Americans become increasingly priced out of homeownership, more have returned to renting, which has caused rental affordability to plummet. ![]()
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