Recession or not…

So when we were in the Great Recession, economists kept hesitating to call it like it was.  Now we are entering a Recession and they are hesitating again.  Hmmm.  What’s it going to take?  We have a global pandemic.  Just ask the workers sitting at home for an indefinite period of time and all the businesses that are closed?  Go Figure!

recession

WLI Connections!

Attended the ULI Michigan WLI Build Up breakfast this morning.  What an amazing group and the presenter was on the money with her out of the box ideas for urban revitalization.  We need more Ilana Preuss folks in our market.  #retailrealestate #revitalization #urbanregeneration

2020 Kick off breakfast

Senior housing on the rise

In 2020, there will be an estimated 23 million Americans over the age of 75 and 8.9 million over 83, a common move-in age of a resident to seniors housing. These will be members of the Greatest Generation and the Silent Generation. And some of these older individuals –roughly 90,000– will be centenarians or older. It’s not until the end of this upcoming decade in 2029 that the oldest baby boomer will have turned 83—effectively opening the proverbial floodgates for seniors housing.  Source:  NREI

senior housing

More brick and mortar closing…

Macy’s has announced that it will close 29 of its department stores in the coming weeks after sales dropped during the holiday season. A company spokesperson confirmed that 28 of the closed locations will be Macy’s stores, while the remaining closure will be a Bloomingdale’s. No specifics were provided beyond that. Macy’s said that same-store sales fell 0.6 percent in November and December, a disappointing drop over the highly-anticipated holiday season. In 2018, Macy’s recorded 1.1 percent growth over the same period. Neil Saunders, managing director of research firm GlobalData Retail, informed his clients in a note that Macy’s “is still losing customers and market share at a rapid clip.”  Source:  IREM

macys