Industrial Outdoor Storage Is a Hot Asset

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Startup PromoTix ($48M in traction) is saving the events industry

PromoTix is solving the event industry’s challenges around high ticket fees and low attendance. Ticketmaster and competitors charge up to 40% of the ticket price to book, deterring guests who can’t afford the added cost. Combined with a crowded marketing space, events struggle.

PromoTix is raising funds to expand. Already profitable, with 656k users and $48M in sales in its first 30 months, PromoTix has low-fee and no-fee SaaS pricing, as well as patented marketing tools that drive attendance.

See investment terms

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Small Business Optimism Rising link

• Small business optimism is currently at the same level as when the Federal Reserve began raising interest rates in March 2022, signaling resilience in the economy.

• The consistent optimism among small businesses indicates that concerns about an imminent recession might be overstated.

• The current sentiment suggests that the economy could be reaccelerating, rather than slowing down.

Industrial Outdoor Storage Is a Hot Asset link

• The Industrial Outdoor Storage (IOS) sector is maturing, attracting more investment as demand for space remains high. This is driven by the continued expansion of e-commerce and logistics industries, particularly in urban areas.

• Investors are focusing on markets with limited land supply, such as Los Angeles, Miami, and New York. These cities offer strong rental growth potential due to their high barriers to entry.

• The shift towards long-term leases is becoming more common in the IOS sector, providing investors with greater income stability. Many leases now extend beyond 10 years, reflecting confidence in the sector's durability.

Existing-Home Sales Rise 1.3%, Median Sales Price Eases From Seasonal Peak link

• Existing-home sales increased by 1.3% in July 2024, but the annual pace of 3.95 million is still 2.5% lower than last year. Despite the rise, inventory remains 30% below the levels seen from 2017 to 2019.

• The median sales price dropped from June’s peak to $422,600 but still saw a year-over-year increase of 4.2%. Mortgage rates, which had been a challenge, are now dipping, potentially easing homebuyers' burdens.

• Regional variations are evident, with the South and West seeing price softening due to better inventory, while the Northeast and Midwest attract buyers looking for affordability. Gahanna, OH, near Columbus, stands out as a top-performing market.

Mortgage Rates to Fall After Fed Chair Confirms September Cut link

• The Federal Reserve is expected to start cutting rates on September 18, driven by the need to support the labor market and stabilize prices. The size of the cut, either 25 or 50 basis points, will depend on the September 6 jobs report.

• Mortgage rates will likely dip today due to Powell's remarks, but the long-term trend depends on future economic data. Aggressive rate cuts could occur if the labor market shows signs of weakening.

• Markets have priced in rapid cuts, but if the labor market remains strong, the Fed might slow down the cuts, potentially causing mortgage rates to rise slightly by year-end.

Multifamily Momentum Is Building as Strong Demand Continues link

• Demand for multifamily housing remains robust, driven by consistent population growth and shifting household preferences. Despite economic uncertainties, the sector is showing resilience.

• Rent growth is particularly strong in Sun Belt cities like Phoenix, Tampa, and Atlanta, with year-over-year increases exceeding 5% in some areas. This trend is pushing developers to accelerate new construction to meet demand.

• Rising construction costs and higher interest rates are squeezing profit margins, yet developers are still bullish. Many are banking on long-term demand to sustain investments.

Support Growing for Middle Housing link

• Support for middle housing (e.g., duplexes, small apartments) is high, with 78% of homeowners and 91% of renters backing at least one type of middle housing. This shift reflects growing acceptance of denser housing solutions in urban areas.

• Despite a construction boom during the pandemic, the U.S. faces a significant housing shortage, with over 4.5 million more "missing households" than available units in 2022. This imbalance underscores the urgency of housing policy changes.

• Accessory dwelling units (ADUs) have the broadest support, with 68% approval overall, and even higher support among renters and younger adults. This indicates a strong preference for flexible, smaller-scale housing options.

Condo HOA Fees Surge in Florida Amid Insurance Crisis link

• HOA fees in Tampa, Orlando, and Fort Lauderdale are up over 15% year-over-year, driven by rising insurance costs and stricter safety regulations post-Surfside collapse. Tampa leads with a 17.2% increase, the highest among 43 U.S. metros analyzed.

• Condo prices are falling across Florida, with Jacksonville seeing the largest drop at 6.6% year-over-year. The decline in condo desirability is partly due to soaring HOA fees.

• Miami's HOA fees are the highest in the state, with a median of $835 per month, but the rate of increase is lower compared to other metros because fees surged dramatically during the pandemic.

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List of Proptech Startups That Just Got Funded

Airlines are exploring the “all you can fly” deal

• Wizz Air's new annual subscription offer, priced at €499 ($549), follows a similar move by Frontier Airlines, despite the latter facing criticism for its service.

• Wizz Air's financials are under pressure, with a 44% drop in operating profit in the latest quarter and a 40% decline in stock value in 2024, despite overall revenue exceeding $5 billion in FY24.

• The airline's reliance on ancillary revenue—comprising almost 45% of its total income from fees like baggage and priority boarding—indicates heavy dependence on add-ons rather than base ticket sales.

Exactly the type of real estate this section is meant for

Link to the listing

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Vidit

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