What I'm Reading Putting This to Bed: In total, 1 million forbearance plans will expire between now and the end of 2021. There is a vocal contingent that has been predicting a wave of foreclosures for months. However, I am virtually certain that this won't happen as almost all of...
May 20th – Shock Absorber
What I'm Reading Shock Absorber: Normal recessions often produce a vicious cycle of foreclosures. When rents and property values fall, building owners stop paying their mortgages and lenders foreclose, pushing prices into a further downward spiral. That hasn’t happened in this cycle as regulators allowed bank to delay loan payments...
March 19th – Tick Tock
What I'm Reading Tick Tock: Multifamily forbearance for agency borrowers has been extended through June 30, 2021 after having been set to expire on May 31st. Once the forbearance period ends, owners generally have to start repaying the deferred amount immediately and within 12 months, and while some owners have...
March 10th – Postponement
What I'm Reading Postponed: The Federal Housing Finance Agency has announced that Freddie Mac and Fannie Mae will extend multifamily forbearance for COVID-19. Qualifying multifamily property owners will be eligible for forbearance through June 30, 2021. The program was scheduled to expire on May 31, 2021. This move includes eviction...
March 5th – Wild West
What I'm Reading Wild West: The non-fungible token (NFT) trend is coming to commercial real estate as platforms look to tokenize assets via blockchain technology in order to provide more flexibility to investors. This segment of the market is fascinating to me but there a ton of potential major pitfalls. ...
February 9th – Hybrid Model
What I'm Reading Hybrid: Retail stores are increasingly adopting a hybrid model, whereby they accommodate both in-store shoppers and the fulfillment of e-commerce orders, creating a new asset class that sits somewhere between retail and distribution. This is likely to lead to major changes in the next few year. For...
January 28th – Storm Clouds
What I'm Reading Storm Clouds: The apartment sector has been a bright spot during COVID-19 but that is starting to change. Enhanced eviction protection, lower rent collections and unprecedented declines in asking rent in some urban markets are taking their toll on apartment owners. During the pandemic, the share of...