Dear Reader,
Here's an interesting statistic.
Throughout the pandemic, 23 million American households added a cat or dog to their family. That's about one in five homes.
If you add it up, that's a lot of squeaky toys, rabies vaccines, and bark parks.
So what does any of this have to do with real estate?
Everything.
The introduction of a greater quantity of pets into America's post-pandemic life means that there is a massive demand for four-legged family member services.
Veterinarian offices, groomers, pet stores, and even pet hospitality services all require retail space.
This is why I think pets could continue to drive the next real estate boom.
You've seen the headlines about how Amazon is making retail storefronts extinct, or Door Dash is causing physical restaurant locations to close their doors, but I don't think that's the whole story.
With the introduction of so many new pandemic pups (and cats), it seems appropriate for there to be a surge in demand for places owners and dogs can go together to have dinner, hang out with their friends, or stop for the night on a road trip.
It will be interesting to watch because commercial real estate might literally be "going to the dogs."
Good investing,
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