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Category Archives: Uncategorized

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The Fed’s Doomsday Prophet Has a Dire Warning About Wh...

Thomas Hoenig doesn’t look like a rebel. He is a conservative man, soft-spoken, now happily retired at the age of 75. He acts like someone who has spent the vast majority of his career, as he has, working at one of the stuffiest and powerful institutions in America: the Federal Reserve Bank. Hoenig has all the fiery disposition… Read full story

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Biden renews foreclosure ban one last time

The Biden administration today re-upped the foreclosure ban for federally backed mortgages for a final month. Read full story

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CDC prolongs eviction moratorium by one month

The CDC is extending its eviction moratorium by one month, meaning that it will last through July. “Keeping people in their homes and out of crowded or congregate settings — like homeless shelters — by preventing evictions is a key step in helping to stop the spread of COVID-19,” the CDC noted. Read full story

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Apartment rents rise as people head back to cities

Apartment rents registered an increase last month, with the median asking rate rising 1.1% on an annual basis — the first month since last summer that the pace of rent growth has climbed, according to Realtor.com. Some experts think the rental market is due for another period of growth, which could be accelerated by rising home prices. Read full story

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US GDP fell faster than previously thought in Q1

US GDP fell at an annual rate of 5% in the first quarter, surpassing the earlier estimate of a 4.8% drop, according to the Commerce Department. Economists believe GDP could fall at a much faster pace in the current quarter before rebounding in the third quarter. Read full story

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Fed chair sees need for more economic relief

Federal Reserve Chairman Jerome Powell noted that the pandemic could cause long-term damage to the economy and asked lawmakers to consider additional spending to mitigate the harm. Read full story

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CBRE forecasts long recovery period for CRE

The recovery of the US commercial real estate sector will take place after the recovery of the broader economy, and some asset classes could take as long as 30 months to rebound, according to CBRE. “It will take several years for vacancy rates to fall back to their pre-crisis levels,” says CBRE’s Richard Barkham. Read full story

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Individual investors flock to public non-listed REITs

Individual investors are showing enthusiasm for public non-listed REITs in the hopes of securing strong returns and stable income flows. Investment firms brought in $10 billion for these funds during the first 11 months of last year, up from a combined total of $8.8 billion for 2018 and 2017, according to Robert A. Stanger & Co. Read full story

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Despite risks more REITs issuing commercial paper

REITs are increasingly issuing commercial paper because of their cheaper borrowing rates. There is a risk to using short-term debt obligations because lenders could suddenly lose confidence in them in an unexpected event such as a financial crisis. Read full story

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Fed chair testimony signals a possible rate cut

Fed Chair Jerome Powell told Congress Wednesday morning that the US economy has not improved in recent weeks, noting “that uncertainties around trade tensions and concerns about the strength of the global economy continues to weigh on the US economic outlook.” The market is interpreting his remarks to mean that the Fed will cut its benchmark short-term interest rate later this month. Read full …

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NMTCs Might Expire Again

Advocates want Congress to renew the New Markets Tax Credit (NMTC) program before it expires after 2019. Read full story

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Second Round of Opportunity Zone Guidance Released

Treasury, IRS create flexibility to position incentive for success. Read full story

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Property Prices Keep Rising in the Student Housing Sec...

Average cap rates on student housing transactions are now near those paid for apartment buildings. Read full story

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Freddie Mac Announces New Head of Multifamily

Deborah Jenkins has been named executive vice president and head of Freddie Mac’s multifamily business. She also has assumed a role as member of… Read full story

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REIT Forecast: Rent Growth Expected to Increase in 201...

Jim Sullivan, managing director of BTIG, an institutional brokerage firm based in San Francisco, has increased his earnings estimates for Equity… Read full story

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Is U.S.-Style Multifamily America’s Next Big Export?

When Greystar first bought into a 6,900-bed student housing portfolio in the U.K. in 2013, its investment dollars were bucking what was quickly… Read full story

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Steady interest rates should buoy CRE transactions

Tax cuts and a robust economy helped commercial real estate prices rise 6.2% in 2018, putting them nearly 30% above 2007 levels, according to Real Capital Analytics. With the Federal Reserve’s announcement that it would keep rates steady, sales could rise higher, as borrowing costs will remain low, said Sam Chandan, head of New York University’s Schack Institute of Real Estate. Read full story

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Chinese investors pull back on US real estate

Chinese individuals and entities sold $854 million more in US commercial real estate than they bought in the fourth quarter, according to Real Capital Analytics. That was the third quarter in a row that Chinese real estate investors were net sellers, and it was the lowest level of commercial real estate investment from the country since 2012. Read full story

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Fed reconsiders its bond runoff timeline

The Federal Reserve is considering wrapping up its tactic of allowing trillions of dollars’ worth of mortgage and Treasury securities to mature without reinvesting the proceeds elsewhere. When the process began in October 2017, an official said the runoff could last five years. Read full story

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IMF cuts global growth forecast

The International Monetary Fund cut global economic growth forecasts for 2019 and 2020, citing eurozone weakness, a possible no-deal Brexit, an escalation of trade tensions and the slowdown of China’s economy. The IMF placed growth at 3.5% in 2019 and 3.6% in 2020, down 0.2 and 0.1 percentage points, respectively, from October’s outlook. Read full story

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Worries about global economy send US stocks tumbling

US stocks posted losses Tuesday after the International Monetary Fund scaled back a global economic forecast for this year and after China reported the slowest pace of economic expansion in 28 years. The S&P 500, the Nasdaq composite and the Dow Jones Industrial Average all closed lower, with chipmakers taking some of the biggest losses. Read full story

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Report: Multifamily set for another year of strong per...

Yardi Matrix believes the multifamily cycle will continue its long run after solid performance last year. “Despite the recent volatility in the financial markets, we foresee more of the same in 2019, with strong demand producing rent growth just shy of 3% nationally,” it says in a report. Read full story

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Weak demand for US Treasury notes, bonds could become ...

Demand for US Treasury bonds and notes last year hit its lowest point in 10 years. Weak auctions and bond losses aren’t linked, but the declining demand could become significant to investors, said Torsten Slok, Deutsche Bank’s chief international economist, who added, “A declining bid-to-cover ratio increases the vulnerability and probability that investors suddenly will begin to think that a falling bid-to-cover ratio is …

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A Breakdown of the Government Shutdown’s Impact on CRE

Which government agencies are affected and what is the fallout for the commercial real estate sector? Read full story

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‘Seasonality’ in the Multifamily Market

MBA – December 7 “Rents are up year-over-year in an even greater share of the nation’s largest markets–83 of the 100 largest cities have seen rents increase over the past twelve months.” Read full story

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How U.S. Homebuyers Will Help Bolster the Rental Marke...

“Favorable economic factors in 2018 and rising interest rates, which can cause delays in home-buying, helped push rental costs upwards at the year’s end.” Read full story

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2019 Real Estate Report: How Does the Multifamily Mark...

If you’re considering investing in a multifamily venture, or if you’re already in the market, there are challenges and opportunities to watch for in the coming year. From rent trends to supply and cost factors, here’s what to expect in 2019. Read full story

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4 Multifamily Development Trends to Watch in 2019

Changing demographics, shifting social values, and evolving development landscapes all continue to drive a surging, nationwide demand for multifamily housing. With empty-nesters looking to downsize, millennials staying single longer, and a general desire for a more convenient and social lifestyle, more and more “renter-by-choice” Americans are forgoing mortgages for lease agreements. Read full story

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Fed reports growth but points out unease over tariffs

The Federal Reserve’s latest report on economic conditions, known as the Beige Book, says most of the central bank’s 12 regions achieved satisfactory growth in November but says there is “increased uncertainty” among businesses regarding the influence of US tariff policy. The report highlights rising costs for manufacturers and problems for farmers because of countertariffs imposed by China and others. Read full story

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Fed holds rates but sticks with plan for gradual hikes

The Federal Reserve still plans to gradually increase interest rates but has left them unchanged at a meeting this week. The central bank says the US economy remains healthy but notes a downturn in growth of business investment. Read full story

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Capital Markets Outlook: A Tough Road Ahead

Interest rates, costs continue to rise for developers. Read full story

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Experts: Midterms won’t change Trump economic pr...

The midterm elections, in which Democrats have taken control of the House and Republicans have increased their majority in the Senate, are unlikely to have any short-term impact on economic programs implemented by the Trump administration, market experts said. The stock market’s reaction to a split Congress has been positive. Read full story

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Fannie Mae adds REMIC structure to credit-risk transfe...

Fannie Mae has made changes to its Connecticut Avenue Securities credit-risk transfer program and now can sell bonds in a real estate mortgage investment conduit, or REMIC, structure as well as give investors recourse to underlying real estate. The REMIC issuance “checks all of those REIT boxes, and we think it’s important over the long-run to have a structure that works for them from …

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Fannie Mae Seeks Strategies to Make Affordable Housing...

GSE issues call for ideas as part of $10M, two-year Innovation Challenge. Read full story

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A 2018 Mid-Year Investment Update on the Student Housi...

As foreign and institutional investors seek portfolio diversification capital is likely to continue flowing into student housing properties. Read full story

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Q2 GDP growth revised upward to 4.2%

GDP growth in the second quarter has been revised upward by the Commerce Department to an annualized 4.2% from an initial estimate of 4.1%, after economists expected no change. Adjusted corporate profit before tax has climbed 7.7% during the past year, the largest 12-month increase in four years. Read full story

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Fannie and Freddie to Exit Single-Family Rental Market

The government-sponsored enterprises (GSEs), Fannie Mae and Freddie Mac, will conclude their single-family rental pilot programs and terminate their participation in the single-family… Read full story

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New Freddie Mac incentive looks to keep rents affordab...

Freddie Mac announced Tuesday its new program to keep rents more affordable by incentivizing investors with favorable loan pricing. Read full story

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National Average Rents Rise to an All-Time High

The national average rent rose by $3 in July 2018 as the market remains on its steady pace, up to an all-time high of $1,409, according to the latest Yardi Matrix Multifamily National… Read full story

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No ‘Looming Threats’ to Multifamily Perfor...

“The multifamily market’s current strong performance should continue throughout 2018 and well into 2019, said Freddie Mac Multifamily, McLean, Va.” Read full story

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