DAILY READS: Jan. 7, 2020

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CEO of WeWork Advisor Perella Weinberg Says the Office-Sharing Business Is ‘Really, Really Good’

“’Having gotten so involved in this, [I think] the core of the business is a really, really good business,’” (Perella Weinberg CEO Peter) Weinberg said in a ‘Squawk Box’ interview.”

Eight Predictions for the Industrial Sector in 2020

“New project deliveries, continued cannabis legalization, a decline in manufacturing, faster e-commerce deliveries and the upcoming presidential election will all have an impact on the U.S. industrial sector in 2020, experts say.”
—National Real Estate Investor 

Manhattan Office Market Soared To Record Levels Again Last Year

“Thanks to several monster lease deals and healthy job growth, a total of nearly 43M SF of office leases were signed in Manhattan in 2019, according to figures from Colliers International.”

New Trump Rule Could Repeal Obama Effort to Promote Housing Desegregation

“The rule in question, Affirmatively Furthering Fair Housing (AFFH), was put in place in 2015 to strengthen the Fair Housing Act of 1968. One of the nation’s landmark housing laws, the Fair Housing Act banned de facto racial discrimination in housing, and further required that any municipality that receives HUD funding must “affirmatively further” fair housing—but the definition of that term has been left to each HUD secretary to define.”

Rent-Law Revenge: Big Landlord Leads Effort to Punish Senate Dems

“ARENY, led by Avi Schron, executive vice president of Cammeby’s International, is raising money with the hopes of breaking the left’s hold on the Senate in 2020, The Real Deal has learned. Cammeby’s has 12,179 rental units across the city — second-most among landlords, according to a TRD analysis.”
—The Real Deal

Rethinking Real Estate: What the Past Teaches Us about the Future of Land Use

“Speaking at an event in New York City, Dror Poleg, a former real estate and technology executive and co-chair of ULI New York’s Technology and Innovation Council, said shifts in real estate often result from overlooked factors that alter its value, beginning in the faraway emergence of landlord-tenant relations out of feudalism and stretching to the innovations of today.”

How the Smartphone Explains Philly’s Most Profound Urban Design Changes This Decade

“Although the iPhone came on the market in 2007, followed by the Android in 2009, their effects weren’t felt on the city’s urban form until the start of what we’ll probably end up calling the Teens. In a matter of a few years, this leisurely and livable city found itself wrestling with an array of unintended consequences, including gentrification, traffic congestion, a demolition free-for-all, and upheavals in its retail districts.”
—The Philadelphia Inquirer

Toyota To Build Prototype City With Cars Pushed To Periphery

“Building on early 20th Century ideas of the ‘Garden City,’ Toyota town will feature extensive greenery and pedestrian-friendly plazas. Despite Toyota being a car maker, Woven City will not be car-centric. This is a far cry from the futuristic cities as imagined by automotive companies in the 1940s and 1950s when it was assumed motor cars—often autonomous to boot—would dominate. (“Futurama,” a General-Motors-sponsored exhibit at the 1939 New York World’s Fair featured automated highways and vast suburbs—visions that soon came true, but which many now consider to be dystopian.)”

Miami Finally Has a Strategy to Tackle its Housing Affordability Crisis. Here’s the Plan

“Create a bank to finance affordable housing construction and renovations, streamline permitting and tweak zoning, then get small and mid-size developers churning out 3,200 units of housing every year for 10 years—a scale and pace that the plan’s authors call ‘unprecedented.'”
—Miami Herald

These Are the Top Asset Classes for Investment This Year

“Industrial and multifamily has certainly become the bread-and-butter for multifamily investors,” Mike Longo, SVP at CBRE, tells GlobeSt.com. “Office has become a third or second tier. If you look at the best performing assets over the last seven years in terms of total return, the top performers have been triple net assets, followed by industrial and multifamily. Self-storage is also on the list. The worst performers from a total returns standpoint has been office, hotels and retail.”