Hints and tips:
...Blackstone bought billions of dollars worth of apartment buildings, suburban houses and other residential assets during the pandemic....
...Up until the Powell pivot in 2018-19 [when Jay Powell’s Federal Reserve switched from raising to lowering rates], tech wasn’t at a particularly substantial P/E premium relative to the market....
...BDT & MSD Partners also recently hired former Goldman Sachs partner Dina Powell McCormick as a vice-chair....
...So nobody wants to be Arthur Burns, least of all Jay Powell....
...At the Spring Place private members club in Manhattan, Blackstone said the unfolding financial crisis could bolster Breit’s earnings because it would constrain bank financing for new real estate construction...
...This saved the place for us all, but condemned it to decades in collapsing limbo as no one could agree how it could be modernised and made economically viable....
...Federal Reserve chair Jay Powell made his first comment since that unexpected jobs report....
...But at Antelope Point Marina, near Page, you can rent a houseboat and head out to explore Lake Powell, a reservoir with some 2,000 miles of shoreline surrounded by dramatic, desolate, landscapes....
...It’s a pool of money, mostly from wealthy individuals, which is used to buy property assets including warehouses, apartments, student housing and data centres....
...Real estate is a great place to be in an inflationary environment so long as you pick the right sectors....
...The Blackstone chief was apparently referring to his own five houses, which reportedly included a coastal estate in Saint-Tropez and a beachfront place in Jamaica — said to have set him back $125mn....
...Ten days later Johnson arrived at Kravis’s Park Avenue apartment, where he found Kelly waiting. Johnson stared goggle-eyed at Kravis’s sumptuous quarters....
...In Manhattan, just finding a place to show off your art (at least the physical pieces) gets no cheaper either....
...A self-catered private apartment for short lets is also under construction. Most of it was built by Eek and his team during lockdown....
...But tax credits only reduce the tax bills of businesses that pay tax in the first place....
...(Alphaville’s Jamie Powell recounts some of the book’s best moments here.)...
...One of them makes it a violation of the LP agreement if you talk to other limited partners. That is an absurd restriction....
...The goals were not far from Le Corbusier’s; a place for communities to flourish, for businesses to grow....
...While renting a two-bedroom flat on the seafront in Kemptown, he bought a place to rent out on Airbnb. “Many of my friends from [London] are following suit,” he says....
...Jacinda Ardern, prime minister, said the most severe restrictions would probably remain in place in Auckland for another two weeks....
...Miami seemed like a good place to visit. And extend your visit. And never leave....
...“Rae Street” is named after a Melbourne address where Barnett, 34, spent some of last year living in a friend’s empty apartment....
...I looked at all this and thought “dreary complacency”: pessimism mixed with the belief that stocks will always remain the place to be, regardless....
...Other places have experienced even more frenetic sales. Median home prices in Austin, Texas, have risen 40 per cent year on year, according to online real estate brokerage Redfin....
...Honey production at La Donaira is overseen by cult apiarist Jonathan Powell, who is also the inventor of the “bee bed”....
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