Every recession has a different impact on the performance of commercial real estate. This recession has the unique feature of savaging some sectors while boosting others. Given patterns of distress in the marketplace, the over or under performance of various property sectors in 2020 is likely to persist into 2021.
Eager shoppers appear to have flocked to the high street with the end of lockdown, causing footfall to UK clothing stores to rise to 62% of YoY levels in the last few days. Huq’s Index shows how the second national lockdown and forced closure of many stores saw footfall levels drop to just 15% of YoY levels – almost as low as they did in April.
Black Friday and (the newer) Cyber Monday experience have become as synonymous with the Thanksgiving holiday as turkey, stuffing, and a Detroit Lions loss. However, like most things in 2020 (except the Lions losing), Black Friday and Cyber Monday felt different.
Most people predicted that online dating would take a hit from the pandemic. And at first, they were right. The dating app market took a nose dive in March by almost all metrics. Daily downloads of the top 20 dating apps in the U.S. hit their lowest point mid-April, just breaking 150K (between all of 'em).
A trend the data experts at ForwardKeys have observed over the past months in Europe, Asia and now in the Americas is the trend to book tickets last minute. Gone are the days of advance planning as travel restrictions and bans see countries opening and closing their borders at short notice; flights get cancelled more often and safety protocols vary from place to place.
We are way behind schedule getting our non-farm payroll (NFP) forecast posted this week, and we’ll publish a bunch of additional job market data for November over the next few days, but in order to get our NFP forecast published as quickly as possible, we’ll truncate the number of charts (as well as accompanying commentary) to the two tables below.
Top platform apps as a grouping have added more than half a million daily active users in the United States between November 2019 and November 2020. This is an increase of 21%. Platform apps are the apps contractors use to execute the services of companies like Uber, Grubhub, Instacart, etc.
Over the course of 2020 we have seen reports of the pandemic affecting different parts of the UK in different ways, with age, industries and travel distances suggested as possible contributors. Today we look at Huq’s measure of population mobility for England – that is, the extent to which residents of cities in different regions are travelling on average day by day.
Into the final weeks of 2020, RCA’s tracking of global commercial real estate activity shows that the Americas region has been worst affected by the Covid-19 pandemic in the year so far.
During the early months of the COVID-19 pandemic, Envestnet | Yodlee’s Income and Spending trends noted an increase in consumer buying in large format retail which led to certain stores being overrun with customers. Spending at these retailers spiked as customers feared store closures and supply shortages.
In anticipation of DoorDash’s IPO, we reviewed statements made in the company’s S-1 and compared them with our spend data of millions of de-identified US consumers. In-line with what’s referenced in the S-1, our data shows DoorDash captured nearly 50% of the food delivery market, an impressive \~35 point increase since January 2018. Grubhub was the primary victim, with its share going from 49% to 19% over the same period.
It’s hard to believe that Beijing’s newest airport has been open for a year already. And what a year it has been for the industry – certainly not one that any airport would have wished for in it’s inaugural year. We know however that China’s domestic air market has recovered from the COVID crisis, at least in terms of capacity – and in the month of November, domestic capacity was 10% above November 2019 levels.
Buying a foreclosed home in the United States isn’t always as sweet a deal as it looks on paper. It could sit in a distressed neighborhood or come with a long list of costly repairs, not to mention old liens that the bank didn’t pay off before putting it up for sale.
Market liquidity fell in 118 of 155 global commercial real estate markets in the third quarter of 2020, a widening swathe of liquidity declines than seen in the second quarter of the year, according to the latest update of the RCA Capital Liquidity Scores.
U.S. railroads originated 900,194 carloads in November 2020, down 5.8 percent, or 55,198 carloads, from November 2019. U.S. railroads also originated 1,136,695 containers and trailers in November 2020, up 11.5 percent, or 116,915 units, from the same month last year. Combined U.S. carload and intermodal originations in November 2020 were 2,036,889, up 3.1 percent, or 61,717 carloads and intermodal units from November 2019.
Travelers hit the road in record numbers the day before Thanksgiving, reaching a vehicle-miles traveled (VMT) of 9% above “normal” (pre-COVID) levels. To this point, VMT had only reached pre-COVID levels twice since the pandemic forced restrictions – both surrounding major holidays (4th of July and Labor Day). The third time, which happened on Wednesday, Nov. 25, topped the list.
Knowing you might not have time to watch our full webinars, we are pleased to continue our series of COVID-19 webinar summaries. In this latest edition, we talk performance in the Latin America region. Some markets heading in the right direction
Turkey’s hotel average daily rate (ADR) has grown exponentially in recent months despite the global pandemic depressing rates most everywhere else in the world. Globally the impacts of COVID-19 have weighed heavily on hotel performance, but in Turkey, several unique macroeconomic factors have aligned to impact rate over and beyond the effects of the pandemic.
2020 was a truly unprecedented year. With it behind us, let’s look ahead at three housing market trends that are likely during the next three years. First, exceptionally low mortgage rates are likely to be around for an extended period. We expect 30-year fixed-rate loans to remain below 3% during early 2021 and average about 3.2% during the next three years.
Malls around the US suffered a significant blow during what is usually the busiest shopping weekend of the year. Foot traffic was down 41% year-over-year on Black Friday and 45% on Saturday. As we reported last week, there was a pick-up in traffic during the first three weeks of November as many people opted to take care of their shopping sooner, in order to beat the rush and in anticipation of lock-down orders across the country.
