One Big Thing Over the past couple of months, it has become fairly obvious that another round of support will not be forthcoming from the federal government – at least not until after the election. Given our recent economic struggles, conventional wisdom dictates that this sort of news would send...
October 12th – Hanging On
What I’m Reading Hanging in There: After showing signs of deterioration when enhanced UI ended, the NMHC Rent Payment Tracker is – remarkably – at exactly the same level that it was at in 2019 for the first week of October. NMHC The Great Divide: Pricing expectations between sellers and buyers have continued...
October 1st – Cashing Out
What I’m Reading Cashing Out: A new report by Trepp indicates an opportunity for homeowners to use sale-leaseback structures to pull equity out of their homes without having to move. This would allow equity-rich but cash-poor home owners who have been hit by the pandemic-induced recession a way to avoid foreclosure...
September 21st – Still Flowing
One Big Thing Still Flowing: CMBS originators and debt funds have pulled back during the pandemic. However, the real estate capital markets have largely continued to function, thus far avoiding the near-complete shutdown experienced during the Great Financial Crisis and preventing a major crash in valuations. Real Clear Analytics This brings to mind...
September 18th – Open to Interpretation
What I’m Reading Open to Interpretation: From state to state, and even judge to judge, a simple-sounding order by the C.D.C. to halt evictions through the end of the year due to the pandemic is being enforced in a far-from-uniform manner. The New York Times Full Picture: NMHC’s rent payment tracker for September...
September 17th – Aaaand Scene
What I’m Reading Aaaaand Scene: The cameras are rolling and Hollywood’s film industry is slowly coming back to work, That is bringing intense demand for studio space, new interest from investors and higher rental rates. Commercial Observer Losing Hope: As the pandemic recession continues, many small and midsize U.S. banks find themselves buried...
September 11th – Rolling Over
September 9th – Hot Spot
What I’m Reading Hot Spot: California investors typically account for 30% to 40% of transaction volumes in Arizona, but recently, that number has increased to 50% as capital from the Golden State flocks to more business friendly locales. Globe Street Setting a Precedent: There are several shut-down generated lawsuits currently making their way...
September 4th – Hard Stop
What I’m Reading Hard Stop: The Centers for Disease Control and Prevention is using its quarantine authority to temporarily halt evictions in order to keep COVID-19 from spreading. The order is effective immediately and will run through the end of the year. People earning under $99,000 a year or couples earning...
September 3rd – Stocking Up
What I'm Reading Stocking Up: US retailers — burned by stock-outs in the second quarter as the retail inventories-to-sales ratio hit a 2020 low in June — are ramping up imports, sending a vast majority of their cargoes through Southern California to feed waves of e-commerce orders to avoid getting...