What I'm Reading Coming in Hot: YoY inflation is now 7.5%, the highest rate since 1982. As expected OER, which tends to be sticky turned sharply higher. This seals the deal for a 25 basis point increase at the Fed's March meeting. It also increases the odds of a 50...
April 14th – Scapegoat
What I'm Reading Scapegoat: Luxury housing developments are often vilified by NIMBYs. However, they play an important role in the housing ecosystem. In a market that is functioning properly, today's new luxury unit is tomorrow's move-up and, if not enough new units are built, the fixed housing supply gets bid...
March 16th – My Way or the Highway
What I'm Reading My Way or the Highway: The Kushner Companies declined to oppose its lenders’ bid to appoint a receiver to take control of a deeply distressed Times Square entertainment retail property that it purchased for $295.3MM back in 2015. The decline in value here is eye popping to...
February 2nd – Deteriorating
What I'm Reading Deteriorating: Moody's Analytics REIS is out with a somewhat devastating report for the office sector, predicting that vacancies will likely show their largest increase this year. The report predicts that the occupancy continue to deteriorate until at least 2023 with employers still pushing off physical space decisions...