Big day in Portland as the mayor, DA, police and non-profits work together to roll out and enforce its homeless camping ban (as long as shelter is available).

Though construction is slowing down quite rapidly, only 4 top 50 markets in the country with less than 1% under construction. SF/East Bay, Sacramento, Portland & Norfolk.

San Francisco multi 4% vacancy, absorbing 4500 units/year, only building about 700/year going forward and of course, the AI boom. Costar says rent growth will be 15% total (3% per year) over the next 5 years, what do y’all think?

“If one has no stake it the capitalist system, then one may well turn against it.”

LA continues to discourage new construction, reduce quality of the rental housing stock and create market distortions that benefit fewer long-term residents while harming many others. The city council doesn’t see why this isn’t beneficial to the greater constituency.

The narrative is all big business is bad. It can be, but it can also do some good. Amazon has pledged $3.6 BN to affordable housing in WA, VA and TN. In just over 4 years, Amazon has created or preserved over 21,000 affordable units. Other companies are following suit.

A developer friend told me last week that labor line items on new development bids are starting to fall as contractors are cutting pricing in an effort to keep crews busy. Are others seeing the same?

Intel increased from a market cap of about $85BN, to about $183BN, 3 months after the US government took a 10% stake. Q3 profit (first in 6 quarters) was $4BN. Good news for the Beaver state.

“Kindness is costless, but also priceless.”

Love that J Cal is spreading the gospel. Let them build and rents will fall!

Anyone use Archer AI underwriting? Curious if there are thoughts out there on it in REtwitter.

LA city council shot down a privately funded gondola from union station to Dodger stadium. “The resolution tells Metro that the city of (LA) refuses to be bought by shiny renderings and empty promises,” said Eunisses Hernandez. Let’s just call this what it is: the DSA will do

Nothing better than being on campus with the same friends you would’ve been with 20 yrs ago (⁦Viren⁩, ⁦Paras Bhakta⁩)

UCLA moving from the Rose Bowl to SOFI, adds an estimated $20MM in revenue and helps towards a goal of breaking even.