Category: U.S. Markets

Remote Workers Resign to a Renters Crisis

Posted on by scott.hodges

Pandemic restrictions are lifting and most bosses and companies are accepting that remote work is here to stay. And as employees continue to enjoy the benefits of working from home, they are also looking for homes to work in. The rental market is fierce these days, with prime interest in Florida and across the Northeast region of the U.S.

A review of recent real estate data released in June by RentCafe, a subdivision of Yardi real estate software, indicates that Miami-Dade County, with its 20+ miles of beaches, had the most competitive rental market during the first third of 2022. Orlando and other parts of Southwest Florida are also in the top-ten list of cities, as are Harrisburg, Pa., North and Central Jersey, Grand Rapids, Mich., Rochester, N.Y., and Milwaukee.

What these cities all have in common is their excellent school systems, tranquil lifestyles, and family-friendly communities. The demand for rental properties is driven by high housing prices that have not budged in years and climbing mortgage rates prompting buyers to delay their purchase and seek a rental lease. While some cities are accommodating the increased demand, like Miami-Dade County where additional units were released to the rental market, other cities are not as quick to meet the need: Harrisburg, PA did not add any new apartments in the last four-month period, causing most tenants to renew their leases instead of moving out.

Chattanooga: the newest Hub of Tech, VC talent

Posted on by scott.hodges
Chattanooga at night

Chattanooga, Tennessee is one of the first American cities to have installed fiber optic cables with gigabit speeds across the entire city. While this upgrade was completed a little over 10 years ago, Mayor Tim Kelly says the pandemic brought a surge of new residents all looking for comfortable remote working spaces and quality of life.

Kelly, himself a former businessman and startup founder, credited the 2010 EPB investment in fiber optics as a forward-thinking move by previous leaders. He notes that while Chattanooga doesn’t offer financial incentives for relocation like other places, it does cultivate a vibrant cultural life and family-friendly ethos.

As a result- and specifically since the pandemic- Chattanooga has seen a new balance of tech companies and those working for them; once concentrated in major coastal cities, firms are now widely dispersed in more rural areas across the country. The Brookings Institution found that tech jobs in San Francisco, Seattle, and Los Angeles had slowed or disappeared, while regions like St. Louis, Philadelphia, San Antonio, and Nashville showed an unprecedented uptick.

Brickyard, for example, is a newly established venture fund based in Chattanooga. Cameron Doody, the co-founder, explains that as workers from traditional tech hubs swamped cities like Atlanta and Austin, residents of those cities moved to places like Chattanooga for quiet, comfort, and quality of life. Brickyard invests in international tech companies. The founders then come to headquarters in Chattanooga to rigorously expand their product and enjoy the benefits of amenities like a sauna, a gym, and a steam room.

Google Buys Mandiant

Posted on by scott.hodges

Global tech giant Google has announced its acquisition of Mandiant, the cybersecurity company. In a $5.4 billion deal, Google will expand its services to provide businesses with strategic planning assistance for and in response to cyberattacks.

Google Mandiant

The purchase comes as Google tries to distinguish itself and its cloud computing platforms from those offered by Amazon and Microsoft.

Organizations around the world are facing unprecedented cybersecurity challenges as the sophistication and severity of attacks that were previously used to target major governments are now being used to target companies in every industry.

Thomas Kurian, chief executive of Google Cloud

Based in Virginia, Mandiant has over 2,300 employees, making it Google’s second-biggest purchase ever. The biggest was Google’s 2011 buy of Motorola for $12.5 billion.

Resilience of Small Businesses

Posted on by scott.hodges

What to do when a pandemic has lasted nearly a year and there is little sign of it ending any time soon?  How should struggling businesses act to stay afloat but within the guidelines?  Shockingly perhaps, there are many small firms that are rising to the challenge and showing incredible resilience during this time.

The businesses that are still open are finding new and innovative ways to keep businesses going.  All the while dealing with kids at home and other additional responsibilities.  A lot of eateries are now realizing that takeouts are the best option.  Dining areas have had to remain closed but people still want to enjoy “eating out.”  This way they can do so in a coronavirus-legitimate way and support local businesses.

Many companies have Googled “how much does SEO cost” and are finding ways to make themselves more readily searched online. Since the majority of people are spending far more time online now than ever before, it makes sense that businesses are trying to stay up to date so that people can search for them and find them more easily online.

Educational institutes are figuring out ways to teach online since they are not able to teach on campus right now. The advantage of that is that students are able to access more educational opportunities since distance is no longer an issue.

Fashion and clothing companies have adapted by making masks.  Some make masks to match outfits, others create comic masks and still others make headcoverings and masks to go together.  There is so much that can be done.

U.S. Treasuries Fall As Growth Increases

Posted on by Scott Hodges
As U.S. growth increases, treasuries have fallen, according to recent data which revealed growth in both business equipment orders as well as home purchases. Meanwhile, Benchmark notes increased yesterday as concerns regarding the Eurozone heighten and reports revealed that U.S. consumer confidence has fallen.
“The Conference Board consumer confidence report is important, but the reaction was probably excessive,” said Alessandro Mercuri  of Lloyd Bank Corporate Markets in London. “We’ve had a streak of stronger data. If we have a softening of concerns in Europe, we might have a bear steepening in the U.S.”