Arlington County recorded the fewest new commercial construction permits in more than a decade last fiscal year while approving the second most permits for new residential construction — a sign of the times as office vacancy rates remain elevated while the housing market stays hot. Per the county’s recently released Comprehensive Annual Financial Report for fiscal 2021, Arlington registered 70 new commercial construction permits in the fiscal year ended June 30, the lowest number since 2011, when the county was still recovering from the Great Recession. Despite recording relatively few permits, the valuation of those new commercial buildings will be higher than anything Arlington has ever seen — $995.5 million, per the CAFR. Read More...
Motley Fool
Why Chinese Education Stocks Bounced Higher Today
As of 3:10 p.m. ET Wednesday, shares of hard-hit Chinese education stocks New Oriental Education (NYSE: EDU), Gaotu Techedu (NYSE: GOTU), and TAL Education (NYSE: TAL) are soaring — up 8.3%, 12.2%, and 13.7%, respectively. Ever since the Chinese government announced its crackdown on the for-profit education industry this past summer, New Oriental, Gaotu, and TAL, too, have been in the dumps.
