Another Day In REIT Paradise: Don’t Mess With Texas

Summary

• Yesterday, the House approved President Trump’s call for $2,000 per eligible American taxpayer.
• Austin is becoming a mecca for the rich and powerful, with less and less room for ordinary Americans.
• Houston is similarly growing by leaps and bounds, if not more so, thanks to companies relocating there.
• No matter what’s going on around us, iREIT on Alpha remains committed to helping investors make the most of the good times and navigate the bad.

Quote for Today:

“There is a gigantic difference between earning a great deal of money and being rich.” – Marlene Dietrich

(Somewhere in Texas)

Yesterday, the House approved President Trump’s call for $2,000 per eligible American taxpayer. Now the proposal is on to the Senate, where it may or may not fail.

The majority of legal U.S. residents are already in line to receive $600 each. That’s a done deal. But at this rate, the city of Austin, Texas, might not be eligible for any of it one way or the other considering its epic growth in the last 12 months alone.

Fox Business writes how:

“A few years ago, some blocks of Austin’s South Congress Avenue featured a castle-themed wax museum and comic book shop, a neighborhood bar with $1 taco deals, an auto shop and, in season, a Santa Claus on horseback.

“Then, as at so many other places in Austin, the construction cranes came.

“Those blocks recently opened with a strip of modern urban buildings with shops offering national brands from Lululemon to Le Labo perfrumes. The $2,000+ private membership club Soho House and [a] Hermés store are on the way. Office tenants include accounting and consulting firm Deloitte and private-equity firm Tritium Partners LLC.”

In other words, it’s becoming a mecca for the rich and powerful, with less and less room for ordinary Americans. The city is one of the fast-growing in the nation, making it a stellar opportunity for big business and real estate corporations to get involved… just not so much for lower-income residents.

Houston is similarly growing by leaps and bounds, if not more so, thanks to companies relocating there. The annual Magnet States Report showed that the greater state of Texas ranked No. 1 for such activity.

Though, believe it or not, California still ranked No. 2.

Meanwhile, the report found that Florida was where most individuals were willing and able to move. So that state’s real estate is booming too.

Will those facts and figures continue into 2021? Covid-19 or not, the 2020 conclusions weren’t all that off from those of its predecessor. So I’m going to say we’ll see more of the same in the next 12 months as well.

The World According to Real Estate

Thanks to sources such as The Daily REITBeat, we’ve got more newsworthy nuggets to share today, such as how:

• Monthly-paying REIT STAG Industrial (STAG) successfully sold a one million square foot building in Burlington, New Jersey, for $110.5 million. That makes its seventh sold this year, with total gross proceeds of $279.4 million.
• Taubman Centers (TCO) held a special meeting of its shareholders, who approved and adopted the new merger agreement with Simon Property Group (SPG). So that takeover becomes even more of a done deal.
• Easterly Government (DEA) was at it again, this time purchasing a 73,397 square foot property in Jackson, Tennessee. The building there houses the United States District Courthouse.

(The Daily REITBeat)

Here’s wishing you a safe, sane, and wonderful post- and pre-holiday period.

Your One-Stop Shop for “Everything Income”

No matter what’s going on around us, iREIT on Alpha remains committed to helping investors make the most of the good times and navigate the bad.

We not only find great REITs at great prices… we also show you how to spot them for yourself. Our quality scoring tool makes it immensely easier to analyze various REITs’ economic moats and therefore long-term stability potential in your portfolio.

When you join, you’ll get immediate access to unmatched tools and REIT research… all with a two-week FREE trial attached!

This will also give you access to dozens of C-suite interviews on my Ground Up podcast… putting you in a preferable, profitable position to make 2021 yours right out of the gate.