Autonomous Vehicles and Real Estate

Really cool blog on the potential impact of self-driving cars on real estate values in-and-around major metro areas. Other impacts - parking lot sizes and zoning requirements (should decrease), worker productivity (will increase as commuting time becomes work time), and quality-of-life will begin to trump proximity to the workplace when selecting housing. From the blog: Autonomous vehicles, aka self-driving cars, are coming. And the world is going to change because of them. A lot has been written about the “first order” effects of autonomous vehicles (AVs): How they will reduce traffic fatalities, make rides more comfortable, or put truck drivers out of work. But the bigger story here is the

Tax Overhaul and Affordable Housing

Interesting piece from the NY Times on the new tax overhaul's impact on affordable housing construction - much of which is dependent upon tax credits. Given the reduction in the overall rates, the attractiveness of the tax credits are also reduced. This may end up leading to less construction and therefore will increase the demand (and the value) of existing assets. On top of this, rising interest rates and more stringent financing standards from traditional bank lenders are slowing the overall construction pipeline as well. We love investing in affordable housing (although typically we look for market-rate workforce housing) and this will be yet another tailwind to the portfolio. From the a

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