The death of the department store and the American middle class
In a New Jersey suburb seven miles west of Midtown Manhattan, the American Dream is on shaky ground. The Dream in question isn’t the mythological notion that upward social mobility is within reach for all hardworking Americans. It’s a $5 billion, 3 million-square-foot shopping and entertainment complex in East Rutherford featuring an indoor ski slope, an ice-skating rink, and a Nickelodeon-branded amusement park. The complex finally opened last fall, but it’s now facing huge new challenges.
Building and Renting Single-Family Homes Is Top-Performing Investment
Single-family homes built to rent are emerging as the hottest corner of the U.S. property market, as investors respond to booming demand from home-seekers priced out of housing for sale. Rents on homes are rising faster than ever. New household formation is also increasing the demand for rentals, as more young people get their own places.