Mortgage bond market a marvel, a final farewell to Toys R Us (in person, anyway), Dollar General pays for staff vaccination time, six ways the pandemic has changed urban redevelopment, and some new drone rules take flight.
In Today’s News
Bloomberg reports today that mortgage investors enjoyed a robust start to the year as January’s excess return came in at a level well above the trailing average for the month — thanks in large part to a helpful hand from the Federal Reserve.
Why it matters: So far so good for investors in that part of the real estate industry, including investors in mortgage real estate investment trusts (mREITs), which consistently pay some of the highest yields in the REIT space.
The iconic toy retailer made the decision as a result of the hardships brought on by the pandemic and plans to shift resources toward opening new locations where there’s better shopper traffic, a spokesperson told CNBC.
Why it matters: It’s only two small stores in malls in New Jersey and Texas, and it’s no big surprise, but it feels like something more, doesn’t it? Like a chapter book has closed.
Today on Millionacres
Dollar General Will Pay Workers to Get Vaccinated. Will Others Follow?
Dollar General Corp. (NYSE: DG) is offering workers four hours of pay to get a vaccine. The retailer, which employs 157,000 people, was among the first large U.S. employers to announce that it would compensate staff who take time to get vaccinated.
Why it matters: Millionacres’ Maurie Backman points out that these are the kinds of folks that we all need to show up to work every day so we can get our food, medications, and other household essentials. What’s good for them is ultimately good for us.
6 Ways COVID-19 Changed Urban Redevelopment
One of the stranger effects of COVID-19 is how completely it disrupted the typical former push-and-pull of urban redevelopment.
Why it matters: Millionacres’ Lena Katz points out six paradigm shifts the pandemic has caused and points to the possibilities of innovation, community involvement, reinvention, and lifestyle changes that have never been seriously considered before.
What Real Estate Professionals Need to Know About New Drone Rules
The Federal Aviation Administration (FAA) says that as of March 16 it will allow unmanned aircraft operators to fly over people and at night under certain conditions, while also imposing new remote identification (Remote ID) requirements.
Why it matters: Don’t want to “drone” on here, but the ability to fly over people (and roads) and at night can only add to the ability for real estate professionals to create awesome videos to help market their properties.