August 2020 update

Here is your monthly “Gladstone Gazette” update – a quick summary of what I’m working on, learning about, and interested by in the world of real estate.

Noteworthy News

Gladstone Capital updates

  • Spencer ave (Chelsea) is flying along. Mechanical connections are wrapping up by the end of August, and the floodgates will open to potential buyers starting mid-September. Broker open houses went great and we have armies of agents ready to send buyers through as soon as the units are patched and plastered.  
  • Saratoga St (East Boston) is flying along. The highlight so far is seeing how nice the rooftop view will be!

What I’m..

Waiting for: The next round of COVID stimulus. I understand the need to balance action and thoroughness… but I’m surprised there wasn’t at least a temporary extension on the bonus unemployment benefit. The loss of the $600/week bonus payments is expected to result in a 44% reduction of spending, according to the NBER. I was concerned about the bonus payments dampening incentives for people to get back to work (when jobs come back), but this WSJ article made me second guess that assumption.

Reading: “Why Real Estate Will Always Be More Desirable Than Stocks.” The Financial Samurai is one of my favorite personal finance blogs, and I’ve noticed a push towards more real estate related blogs over the past year or two. See also his 30/30/3 rule for buying your first (or next) home.

Surprised by: Apparently Blockbuster has a Twitter account? They came out of nowhere and tweeted for the first time since 2014. Why? The last remaining Blockbuster – located in Bend, Oregon –  is offering up three, one-night stays on Airbnb. Bananas. 

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