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Tuesday, July 23, 2024

Office to apartments

download pdf Hybrid work is likely here to stay. This shift isn’t just changing lifestyles—it’s also affecting commercial spaces. Office vacancy rates post-COVID shot up almost overnight, and they remain near 20 percent nationwide, the...
L.A. homeless tower building cost rings bells

L.A. homeless tower building cost rings bells

Gym, balconies, restaurant, soundproof music studio, business center, located in downtown Los Angeles, and it’s pet friendly. Sounds like a pretty good hotel, four-stars at least. Sounds like it, but it isn’t. It’s the new Weingart...
Rents fall behind inflation

Rents fall behind inflation

Tracking rents is important for understanding the dynamics of the housing market. For example, the sharp increase in rents helped me deduce that there was a surge in household formation in 2021 (September 2021:...
Market demand sets stage for few rent hikes

Market demand sets stage for few rent hikes

While asking rents for new leases nationally are running nearly flat over the past 12 months, those figures are heavily influenced by the Sunbelt, where record-high supply has turned rent growth negative in some...
Why Johnny can’t build

Why Johnny can’t build

We were once a nation of builders—from the toll roads and canals of the early nineteenth century and the railroads of the second half of that busy century, to the construction of power, energy,...
The U.S. Supreme Court justices return to the bench the second week of June to issue opinions in argued cases. The court has somewhere around 28 decisions left to release before it begins its summer recess.

Major U.S. Supreme Court decisions coming down the track MAJOR UPDATE

June 28, 2024 Update: The Supreme Court in an unprecedented victory for multifamily and other businesses, has today reversed its 40-year-old decision in Chevron v. Natural Resource Defense Council. This law governed how courts...
The $10 billion fund from Starwood Capital Group has been trying to preserve its available cash and credit by limiting investor redemptions. In the first quarter, the fund was hit with $1.3 billion in withdrawal requests but satisfied less than $500 million of them, according to regulatory filings.

The incredible disappearing Starwood CRE investor

The $10 billion fund from Starwood Capital Group has been trying to preserve its available cash and credit by limiting investor redemptions. In the first quarter, the fund was hit with $1.3 billion in...
High interest rates have stranded the owners of overleveraged apartment properties worth billions of dollars.

Investors circle overleveraged apartments

Rescue capital is available for apartment borrowers that need it, but relatively few owners of over-leveraged apartment properties are willing to pay the price—so far. High interest rates have stranded the owners of over-leveraged apartment...
Present day Rockford Watch Company opened near the Rock River in Rockford, Illinois. the factory’s vivid history includes a number of contrasts: years of great prosperity followed by market competition and insolvency in 1896, followed by successful reorganization headed by Jacob Franks and Max C. Eppenstein in 1901. a fire in July, 1903, followed by a lightning strike in September, 1903, destroying the chimney, boiler house and large part of the machine room. Some months later lay-offs were announced. After producing nearly a million pocket watches, the factory closed in 1915.

Deal watch

Oliver Emerson Development, a father-son duo, wants to turn the former Rockford Watch Co. factory in Rockford, Illinois, into affordable housing. “To be able to do it with my father and be able to contribute...
Rent control still the wrong solution to housing woes

Rent control still the wrong solution to housing woes

Restricting the price of housing kills incentives to supply places to live. Rent control is having something of a moment: In Los Angeles, tenants are invoking a law that imposes limits on apartments built on...
Plaintiffs argue that the Department of Energy has no legal authority to impose its own water use limits on energy-consuming home appliances.

Rules that make dishwashers, wash machines perform worse also illegal

Plaintiffs argue that the Department of Energy has no legal authority to impose its own water use limits on energy-consuming home appliances. The federal regulations that make dishwashers and washing machines worse are also illegal....
Interest rates slow apartment development

INFOGRAPHIC: Interest rates slow apartment development

Rising interest rates, tighter lending and flattening rents in parts of the country have left property companies from California to Florida waiting for financing that may not come soon. +500 days (up 45% from 2019)...

INFOGRAPHIC: Appliance payoff models explode

^58 percent increase in requested quotes to thousands of appliance repair businesses y/y (2022-2023) ^43 percent increase in appliance spend in 2023 compared to 2013—rising from $390 to $558 over the decade Why? 1987. Home appliances...
Disparate impact of high interest rates

INFOGRAPHIC: Disparate impact of high interest rates

Disparate impact of high interest rates has adversely impacted millions of low- and middle-income families—and housing providers. More often high interest rates depress stock and housing prices, and other asset values— impacting all income...
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