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ten must reads housing crisis

10 Must Reads for the CRE Industry Today (October 1, 2018)

There are many homeowners still struggling a decade after the housing crisis, MarketWatch reports. Billions of dollars are flowing into real estate funds focused on disadvantaged neighborhoods in the U.S., according to the Wall Street Journal. These are among today’s top must reads from around the commercial real estate industry.

  1. A Decade After the Housing Crisis, Foreclosures Still Haunt Homeowners “Although the homeownership rate has rebounded in recent years, it still remains well below the high it reached before the foreclosure crisis. As of the second quarter of 2018, 64.3% of households owned their home, as opposed to 69.2% back in the fourth quarter of 2004, when real estate bubbles were forming in California, Florida and other areas that were later devastated by the housing crisis.” (MarketWatch)
  2. Big Stock Windfall? New Rule Defers Taxes With Real Estate Investment “Billions of dollars have started piling into new real-estate funds targeting disadvantaged U.S. neighborhoods, as investors line up to capitalize on a section of last year’s tax overhaul.” (Wall Street Journal, subscription required)
  3. This Is the Beginning of the End for Lord & Taylor’s Flagship Store “Lord & Taylor’s long goodbye to Fifth Avenue is about to begin — and it may include some nice deals on cashmere sweaters and designer handbags.” (New York Post)
  4. NYC Has Moved Into a Buyer’s Market, And Is Experiencing a Housing Trend Last Seen in 2009 “New York City’s pricey real estate has become a ‘buyers market,’ new data suggests, characterized by lowball offers and a rise in the number of properties staying on the market for longer.” (CNBC)
  5. Rent vs. Buy: Suburban Edition “Thanks to an uncertain real estate market, more people in New York’s suburbs are putting off buying a home and renting one instead.” (The New York Times)
  6. Triple Net Lease Owners: Don’t Lose Out to This Common Problem “Properties with triple net leases often appeal to risk-averse landlords because of their inherently low-maintenance nature. But if you think delegating the costs of maintenance, property insurance and property tax to the tenant makes owning property a breeze, think again. Triple net leases come with their own set of unique risks and challenges for landlords. Let's explore the most common issue these leases pose, and how wise landlords can navigate them.” (Forbes)
  7. Housing Market Slows, as Rising Prices Outpace Wages “By nearly any measure, this city is booming. The unemployment rate is below 3 percent. There is so much construction that a local newspaper started a “crane watch” feature. Seemingly every week brings headlines about companies bringing high-paying jobs to the area. Yet, Denver’s once-soaring housing market has run into turbulence.” (The New York Times)
  8. Real Estate Weekly: Rough Week for REITs and Homebuilders “On a contentious week of domestic politics, US equities retreated from recent record highs, dragged down by mixed economic data and signs of softening in single family housing markets.” (Seeking Alpha)
  9. What Does Wednesday’s Rate Decision Mean for Commercial Real Estate? “There was virtually no surprise around Wednesday’s rate decision from the Federal Open Market Committee. As was well-telegraphed in advance of the meeting, the Federal Funds rate was lifted by 25 basis points (bps) to a range of 2 percent to 2.25 percent—marking the third increase this year and the eighth of the current cycle.” (Commercial Observer)
  10. Fulton Market Transformation Shows Signs of Creeping Westward “The next big developer land grab in Chicago is starting to take shape, but whether it escalates into an investor stampede is up to City Hall.” (Crain’s Chicago Business)
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