Archive for Real Estate
The Next Big Trade for Bond Investors Is Betting on U.S. Homeowners
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Credit risk transfer bonds among best-performing debt of year
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Planned tax changes may draw new investors to the securities
One of the best bond trades of 2018 might be one of the top from this year: betting that U.S. homeowners won’t default on their mortgages.
The Next Big Trade for Bond Investors Is Betting on U.S. Homeowners
You constantly hear that owning a home is a no brainer in California because you will always get major tax benefits. Well the new GOP tax plan is actually going to benefit California renters while California homeowners in crap shacks will see higher tax bills. It is an interesting tax proposal because the typical US household owning a typical $200,000 home is going to come out ahead. This is your bread and butter “American” family. However, Taco Tuesday Baby Boomers and Gen X’rs in California have been getting mega subsidies for buying hyper expensive crap shacks. Every tax bill that comes out seems to favor homeowners. In fact, I haven’t seen one that hasn’t favored homeownership. But the way the tax bill is setup, crap shack owners are going to actually have to pay more and renters are going to benefit nicely from the much larger standard deduction. We are now seeing some scenarios where this is playing out…
Home Prices in 20 U.S. Cities Increase by Most Since 2014
Posted by: | CommentsHousing prices in 20 U.S. cities accelerated more than forecast in October, rising by the most since mid-2014 as lean inventories continued to prop up values amid steady demand, S&P CoreLogic Case-Shiller data showed on Tuesday…
Home Prices in 20 U.S. Cities Increase by Most Since 2014
U.S. New-Home Sales Surged in November to Highest Since 2007
Posted by: | CommentsU.S. purchases of new homes unexpectedly surged in November to the highest level since before the last recession, indicating resilient demand, according to government data Friday…
U.S. New-Home Sales Surged in November to Highest Since 2007
Homeowners in High-Tax States Race to Beat Property Tax Cap
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Virginia county reports lines of residents seeking to prepay
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New law caps deduction for state, local taxes at $10,000
Homeowners in states with the highest property taxes are looking to prepay 2018 bills ahead of a $10,000 cap on the deduction for state and local levies, including property taxes, in the GOP tax overhaul President Donald Trump just signed.
In New York, residents are peppering local officials with questions about how to prepay their 2018 property tax bills in the current year in the hope of deducting them from 2017 taxes, the New York Times reports…
The Biggest Housing Bubble of Them All Might Be Norwegian
Posted by: | CommentsA widening chasm between housing prices and rental cost could be a sign that a correction is right around the corner. The biggest chasm can now be found in Norway.
That’s the finding of a study of 20 advanced economies by Moody’s Investors Service looking at the dynamic between house prices and what it defines as a market equilibrium…
U.S. Sales of Existing Homes Climb to an Almost 11-Year High
Posted by: | CommentsSales of previously owned U.S. homes rose in November to an almost 11-year high, indicating demand picked up momentum heading into the end of the year, according to a National Association of Realtors report released Wednesday…
U.S. Sales of Existing Homes Climb to an Almost 11-Year High
A Decade After Bubble, Spanish Real Estate a Hot Buy Once More
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Banks ending delay-and-pray on balance sheets drives recovery
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Investment highest since crisis and 2018 seen just as good
Spanish real estate is hot property once again.
Investment in malls, warehouses and offices is this year set to reach the highest since 2007, just before the bursting of a decade-long property bubble tipped the economy into the worst slump in the nation’s democratic history…
A Decade After Bubble, Spanish Real Estate a Hot Buy Once More
Tax Overhaul May Mean Lower Prices for Manhattan Homebuyers
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Bill limits mortgage-interest deductions to $750,000 of debt
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Home hunters will want discounts for higher carrying costs
The U.S. tax overhaul sent Wednesday to President Donald Trump for his signature is likely to push down home prices in high-cost markets such as Manhattan and Westchester County to the north as buyers demand discounts to cover higher carrying costs, said Jonathan Miller, president of appraiser Miller Samuel Inc.
“You have so much you can afford a month,” Miller said. “Now you have larger costs taking up that amount you can afford. So there will be downward pressure on prices until there’s equilibrium.”…
Newly Designed JFK-Based Hotel Tops Out
Posted by: | CommentsMCR Development has topped out the first hotel structure for the TWA Hotel, a planned 505-key, world-class hotel that is repurposed from Eero Saarinen’s iconic TWA Flight Center at John F. Kennedy International Airport in New York.
When completed, TWA Hotel will consist of 505 guestrooms, 50,000 square feet of state-of-the-art meeting and event space and a variety of high-quality food, beverage and retail options. It’s scheduled to open during the first few months of 2019…
Regulatory Overkill Is Driving Biggest Canada Homebuilder South
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Mattamy Homes will expand over half its business to U.S.
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Ontario land availability scarce; U.S. pricing cheaper: CEO
Mattamy Homes Ltd., North-America’s largest private residential homebuilder, is boosting investments in the U.S. as regulatory excess sends land prices — and frustration — skyrocketing in Ontario, chief executive officer Peter Gilgan said.
Mattamy expects to generate more than half its business from the U.S. in the next five years, including the southern states of Arizona, California and Florida, up from about one-third now, Gilgan said in an interview at Bloomberg’s Toronto office. The Toronto-based company posted annual revenue of C$3.2 billion ($2.5 billion) for its fiscal year ended in May…
U.S. Single-Family Housing Starts Rise to Highest in a Decade
Posted by: | CommentsGroundbreaking on single-family homes proceeded in November at the strongest pace in a decade, driving U.S. housing starts to a faster-than-estimated rate, government figures showed Tuesday…
U.S. Single-Family Housing Starts Rise to Highest in a Decade
Britain’s House Prices Could Come to a Standstill in 2018
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Property prices will likely come to a standstill next year
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Growth in regions including northwest will offset London fall
U.K. house prices will stagnate next year, according to the Royal Institution of Chartered Surveyors.
Overall growth will come to a halt as the number of transactions falls slightly, RICS said in a report Wednesday, with a continued dearth of supply preventing outright declines. Some regions are set to see gains, offsetting slumps in London and the southeast. Political and economic uncertainty, tax changes, a lack of stock, stretched affordability and the Bank of England’s rate hike in November are all influencing factors, according to the report…
Tenants’ Thoughts on Social Events
Posted by: | CommentsDo your tenants want to mix and mingle? This month, CPE and Kingsley Associates asked what people thought about social functions around the complex.
“We are disappointed that there wasn’t a tenant appreciation BBQ this year. It is really important for all the tenants in the buildings to feel like a community. The tenant BBQ provides a place for us to meet new tenants and create that sense of camaraderie.” —Denver
China’s Home Prices Across Smaller Cities Are Warming Up Again
Posted by: | CommentsChina’s home prices are warming up in the nation’s smaller cities, even as the government prolongs a campaign to rein in speculation and control bubbles.
New-home price gains are picking up the most in the third-tier cities, rising 0.46 percent in November on a month-on-month basis, according to Bloomberg Intelligence calculations based on government data tracking 70 cities released Monday…
China’s Home Prices Across Smaller Cities Are Warming Up Again
Trump, Real Estate Investors Get Late-Added Perk in Tax Bill
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Late revision supplies break based on investments in property
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Corker, who dropped opposition, says he wasn’t aware of change
Lawmakers scrambling to lock up Republican support for the tax reform bill added a complicated provision late in the process — one that would provide a multimillion-dollar windfall to real estate investors such as President Donald Trump.
The change, which would allow real estate businesses to take advantage of a new tax break that’s planned for partnerships, limited liability companies and other so-called “pass-through” businesses, combined elements of House and Senate legislation in a new way. Its beneficiaries are clear, tax experts say, and they include a president who’s said that the tax legislation wouldn’t help him financially…
Summer Street Hotel Approved in Boston
Posted by: | CommentsThe proposed Summer Street Hotel, or the Omni Boston Seaport Hotel, has received approval from the Boston Planning & Development Agency (BPDA) board of directors. Developed by a joint venture of The Davis Cos. and Omni Hotel Management Corp., the hotel will comprise more than 788,500 square feet and will create more than 1,100 construction jobs and 700 permanent positions.
U.S. Homebuilder Sentiment Hits Highest Level in 18 Years
Posted by: | CommentsConfidence among U.S. homebuilders jumped in December to the highest level since July 1999, exceeding all analyst estimates, as a growing economy boosts housing demand, according to data Monday from the National Association of Home Builders/Wells Fargo…
U.S. Homebuilder Sentiment Hits Highest Level in 18 Years
Stockholm Housing Slump Set to Deepen, State Mortgage Bank Warns
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Lender SBAB says new mortgage rules may have bigger impact
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Stockholm home prices could drop another 10-15 percent
Stockholm’s property market is falling…
Stockholm Housing Slump Set to Deepen, State Mortgage Bank Warns
Specht Wraps Industrial Record-Setter in Portland
Posted by: | CommentsSpecht Development Inc. has completed the largest speculative industrial development in the Portland region ever launched in a single phase. The 732,824-square-foot project comprising three buildings includes the metro’s largest single vacant industrial space under one roof.
Leasing at Vista Logistics Park, located on 37.42 acres at SE 223rdand Stark streets in Gresham, Ore., has begun…
Sweden’s Housing Slump Is Getting Worse
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HOX index slides on annual basis for first time since 2012
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Housing market turmoil is spurring concerns about economy
Sweden’s housing slump deepened last month as the market struggles to absorb a supply glut and households lose confidence…
Tax Overhaul Could Be Big Win for U.S. Real Estate Investors
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Compromise boosts pass-through firms, Cushman & Wakefield says
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Apartment landlords, retail real estate owners stand to gain
U.S. commercial real estate is a likely winner in the evolving Republican tax overhaul, which is poised to lower rates for property owners, spur new investment and increase demand for rental housing, according to a new report…
Tax Overhaul Could Be Big Win for U.S. Real Estate Investors
This Hedge Fund Is Preparing for Swedish Real Estate Turmoil
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Peak Core has returned 8.1% on average since start in 2014
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Fund holds long positions in S&P 500, commodities and gold
The potential for a housing crash in Sweden has Peak Asset Management surveying for opportunities…
This Hedge Fund Is Preparing for Swedish Real Estate Turmoil
U.K. Housing Market Stagnates as London Price Drop Continues
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Home prices flatlined in November, RICS survey suggests
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Brexit, political instability flagged as reasons for concern
The U.K. housing market is stuck in a rut…
U.K. Housing Market Stagnates as London Price Drop Continues
Trump Properties Fare Worse in New York’s Luxury-Condo Slowdown
Posted by: | CommentsNew Yorkers aren’t paying up for Trump-branded condos…
Trump Properties Fare Worse in New York’s Luxury-Condo Slowdown
Sweden’s Housing Market Headed for ‘Soft Landing,’ Minister Says
Posted by: | CommentsSweden’s finance minister says the biggest Nordic economy is strong enough to avoid an all-out rout in the nation’s housing market.
The recent decline in prices is “sensible” after years of a housing boom, Magdalena Andersson said in an interview after a press conference in Stockholm.
“Much points to a soft landing,” she said. The economy is “doing well,” there’s real income growth, low rates and “large demand” for housing in Sweden, she said…
Sweden’s Housing Market Headed for ‘Soft Landing,’ Minister Says
JPMorgan Eyes Japan Real Estate on Bet BOJ Persists With Easing
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Cheap leverage is available to enhance returns, Pil says
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Central bank policies are diverging as Fed, ECB tighten
JPMorgan Chase & Co.’s alternative asset management unit is eyeing Japanese real estate and infrastructure, betting betting such investments will benefit from the nation’s lingering monetary stimulus even as central banks elsewhere start to tighten…
JPMorgan Eyes Japan Real Estate on Bet BOJ Persists With Easing
Transit-Oriented Development Accelerates in Queens
Posted by: | CommentsLondon Property Market Likely to Continue Price Drop in 2018
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Rightmove says prices in the capital will fall another 2%
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Nationally, values will likely rise 1% as shortage continues
London’s property market is in for another rough ride next year, according toRightmove Plc.
Home values in the capital are likely to fall another 2 percent in 2018 after a 1.8 percent decline this year, the real estate website operator said Monday. In December alone, prices dropped 3.7 percent in London and by 2.6 percent nationally. The month usually sees a big seasonal slump…
London Property Market Likely to Continue Price Drop in 2018
Some of the World’s Priciest Real Estate Floats on Open Waters
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Private condos aboard The World top rates in London, New York
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Vessel tours North America this year marketing units for sale
It’s among the world’s most-expensive real estate per square foot, where the oceanfront views never tire, and where the price of entry buys access to the otherwise inaccessible—165 apartments aboard The World, a condo cruise ship. Its intensely private residents spend a third of the year, on average, gliding to the planet’s farthest reaches: Antarctica, Pacific atolls that haven’t seen a ship in two decades, and Ascension, a volcanic outcropping halfway between Africa and Brazil…
Homebuying Doesn’t Hinge on the Mortgage Tax Break
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Economists say interest deduction doesn’t boost homeownership
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Republican tax bill would diminish the housing perk’s use
One of America’s most popular tax breaks is about to be rendered nearly useless. And there are few economists rushing to defend it…
Homebuying Doesn’t Hinge on the Mortgage Tax Break
How Affordable Urban Housing Stays Affordable
Posted by: | CommentsNCC Closes $33M Sale of Sacramento Retail Center
Posted by: | CommentsHall Equities Group has sold Laguna Village, a 120,893-square-foot community retail center in the North Laguna area of Sacramento, Calif. for $32.5 million.
Newmark Cornish & Carey (NCC) Senior Managing Directors Mike Zylstra and Forrest Gherlone represented the seller, while NCC Executive Vice President Tom Fehr, Senior Managing Director Anthony Pappageorge and Director Zachary LeBeouf represented the buyer, Laguna Village Investors LLC, a private investor from the Sacramento area…
U.K. House Prices Rise for a Fifth Month on Dearth of Supply
Posted by: | CommentsU.K. house prices rose for a fifth month in November as a lack of homes for sale kept the market tight…
U.K. House Prices Rise for a Fifth Month on Dearth of Supply
The GOP Tax Plan Would Make America’s Housing Shortage Even Worse
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Changes could send already low U.S. home inventories lower
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Losing deductions will be especially tough in high-tax states
In San Francisco and Scarsdale, Jersey City and Greenwich, the real estate talk is the same: Just how bad will this Republican tax overhaul hurt?…
The GOP Tax Plan Would Make America’s Housing Shortage Even Worse
Bond Traders Home In on Inflation Mystery as the Key to Winning 2018
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Debate divides Wall Street; Goldman says short the 10-year
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Yields now show more sensitivity to inflation than jobs data
For traders in the world’s biggest bond market, getting inflation right is shaping up as the key to winning 2018…
Bond Traders Home In on Inflation Mystery as the Key to Winning 2018
Economic Diversity Drives Growth in Columbus
Posted by: | CommentsColumbus’ growing economy and relatively affordable housing are attracting residents and boosting multifamily demand. A business-friendly environment and an educated workforce are drawing investors to Ohio’s largest city, fueling a growing residential market. Columbus rents were up 3.0 percent in the year ending in September, topping the U.S. average by 80 basis points.
EPA Deregulation’s Increased Risk for Real Estate
Posted by: | CommentsIt is the business of insurance companies to price risk. Insurance, in fact, has been doing this since the second millennium B.C., as evidenced in the Babylonian Code of Hammurabi. Lloyd’s of London has been underwriting risk since the 1750s, and Benjamin Franklin set up a fire insurance company in the colonies as early as 1752. Today, no commercial real estate owner would consider foregoing property and casualty insurance.
Singapore Property Bulls Ignore Central Bank’s Warning
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CapitaLand may gain 42% over a year, Morgan Stanley forecasts
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Property stocks set for their best yearly gain since 2012
Singapore developers may extend their share rally into 2018 on a reviving home market, according to money managers and analysts, who say the central bank’s warning on a potential oversupply may not play out for years…
Homebuilders’ Shares May Be Set for a Teardown
Posted by: | CommentsOne of the sectors potentially most at risk from the Republican tax bill is housing. Investors, though, don’t seem to have been home to get the message.
The stocks of residential builders have been some of the market’s best performers in 2017. The Dow Jones U.S. Select Home Builders Index is up 56 percent this year. And some stocks have done much better. Shares of $13 billion homebuilder NVR Inc. are up 109 percent since the beginning of the year. The stock of KB Home has climbed nearly 95 percent. The much-watched FANG stocks like Apple and Netflix are up a lowly 47 and 51 percent, respectively, by comparison…
Jobs, Population Growth Sustain Demand in San Jose
Posted by: | CommentsSilicon Valley remains the nation’s top tech hub, as well as a strong multifamily market, although rent growth has been on a roller coaster ride. The market saw two quarters of double-digit growth in 2014. Then, at the beginning of 2016, rents rose 8 percent, before hitting seven consecutive months of negative growth. San Jose rents are now stabilizing, up 2.9 percent year-over-year through September.
Housing Is Safe From Washington
Posted by: | CommentsDeductibility of home mortgage interest is a hot potato in the current U.S. tax cut and reform debate. It always has been. In 1986, zealous reformers wanted to eliminate the deduction, but realtors and all their backers descended on Congress and the idea dropped dead.
But this time around, even if the impending tax changes become law, the measure is unlikely to have a meaningful effect on mortgage interest deductibility for most, or depress home prices or the booming housing market. Perhaps that’s why the surge in the share prices of homebuilders, with the S&P Homebuilding Select Industry Index up more than 16 percent since late August, seems well-supported and may continue…
Allianz Takes Stake in SL Green’s NYC Trophy Tower
Posted by: | CommentsAllianz Real Estate has acquired a 43 percent stake in 1515 Broadway in Manhattan’s Times Square from SL Green Realty Corp., capping of a year of investments in U.S. real estate reaching $3.5 billion.
The firm, one of the world’s leading insurers and asset managers, now has $16.3 billion in assets under management in the United States. Allianz Real Estate manages investment programs on behalf of a number of Allianz group companies around the world.
Mori Bets on Luxury Condo Demand in Tokyo With Toranomon Project
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Sees many units pricing over 1 billion yen as wealthy flock
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Development to be more upscale than Mori’s Roppongi Hills: Oba
Mori Building Co. has started work on a luxury residential development in Tokyo that will include units priced from 1 billion yen ($9 million), betting there is untapped demand for the most upscale apartments in the city.
Brexit Swings a Sledgehammer at Britain’s Housing Market
Posted by: | CommentsPhilip Hammond promised just last week to “fix Britain’s broken housing market.” One slight problem is that Brexit threatens to take a sledgehammer to the plan hatched by the U.K. Chancellor of the Exchequer.
Now, it’s unfair to pin the blame for the imminent departure from the EU on Hammond. He’s probably the keenest Europhile in Theresa May’s fractious Conservative cabinet. But there were already quite a few doubts swirling around his aim to build 300,000 homes a year by the middle of the next decade…
Brexit Swings a Sledgehammer at Britain’s Housing Market
To End U.K. Housing Shortage, Build More Houses. Duh.
Posted by: | CommentsBritish politicians should address supply constraints rather than tinkering with demand.
Rarely has a solution to a problem been so easy to imagine and yet so hard to implement as in the case of the U.K. housing crisis. Britain needs to build more houses, particularly in overcrowded areas such as the southeast. Yet politicians prefer to tinker with demand: This will simply to push up prices, at the expense of new buyers.
U.K. House Prices Barely Rise as Income Squeeze Hits Confidence
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Values rise 0.1% on the month, 2.5% versus year earlier
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Nationwide says Budget measures may only have modest effect
U.K. house-price growth barely rose this month, according to Nationwide Building Society, which said demand is being partly restrained by weaker consumer sentiment.
Values increased 0.1 percent from October, leaving the annual gain at 2.5 percent. That’s within the range seen in 2017, though it’s well below the pace of recent years…
U.K. House Prices Barely Rise as Income Squeeze Hits Confidence
The End of the U.S. Housing Shortage Is Finally in Sight
Posted by: | CommentsU.S. Pending Home Sales Rose in October by Most in Eight Months
Posted by: | CommentsA gauge of signed contracts to purchase previously-owned U.S. homes rose in October by the most in eight months, primarily due to a jump in the South region that had been impacted by hurricanes, according to data released Wednesday from the National Association of Realtors in Washington…
U.S. Pending Home Sales Rose in October by Most in Eight Months
London House Prices Are Still Rising Almost Everywhere
Posted by: | CommentsHome prices in the U.K. capital continue to move beyond the reach of many. Despite a slowdown linked to tax increases on second-home buyers, and the Brexit vote, London homes are less affordable now than ever before. Prices continue to gallop ahead of wages. The average price of a home in London is now £472,520, up from £470,281 last month, according to Bloomberg’s analysis of preliminary U.K. Land Registry sales data. Prices rose in nearly all of London’s boroughs, except for the hip Hackney area, where they are 0.4 percent down from a year ago, and the central borough of Westminster, which has seen steady declines throughout 2017…
MD MOB Breaks Ground
Posted by: | CommentsA public-private partnership of Prince George’s County officials, civic and community partners; University of Maryland’s Medical System; and the School of Medicine leaders has broken ground on the University of Maryland Capital Region Medical Center.
Located at 900A Blvd. at the Capital Center in Largo, Md., the 595,744-square-foot property will include an 11-story tower with two rooftop helipads. The facility will also comprise 205 acute-care licensed beds, 20 adult observation rooms, 45 ER-treatment bays, 8 operating rooms and 15 beds for pediatric care…
Supply Compresses Rent Growth in Manhattan
Posted by: | CommentsHere Are Some Worrying Charts About Sweden’s Housing Market
Posted by: | CommentsRiksbank Governor Stefan Ingves may have tried to talk down concerns about the Swedish housing market, but some of the data he released last week as he presented the central bank’s take on financial stability show those who worry have a point…
Here Are Some Worrying Charts About Sweden’s Housing Market
London Homes Are Now Less Affordable Than Ever Before
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Hometrack: capital’s price-to-earnings ratio will drift lower
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Still, U.K.’s stamp-duty changes seen having little effect
London homes are less affordable than ever before, despite slowing price growth and government attempts to cut the cost of housing for first-time buyers…
JV to Create Upscale Hotel Brand in Japan
Posted by: | CommentsHotel Okura Co. and Trinity Investments LLC have formed an exclusive joint venture to create Nikko Style, an upscale hotel brand that will be introduced throughout Japan. Trinity is seeking to raise up to $300 million in equity to initially fund the Nikko Style chain. The first hotel under the brand is expected to open by 2020.
U.S. New-Home Sales Unexpectedly Rise to Highest in a Decade
Posted by: | CommentsU.S. purchases of new homes unexpectedly advanced in broad fashion last month, reaching the strongest pace in a decade and offering an encouraging signal for residential construction, according to government data released Monday…
U.S. New-Home Sales Unexpectedly Rise to Highest in a Decade
How China’s Going to Try to Control Its Massive Housing Bubble
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Officials may contain price gains with credit, buying curbs
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Home sale slide may show the risks of property cooling efforts
China’s efforts to cool the property market may lead to the first decline in home sales since 2014 next year, highlighting the risks as officials try to battle bubbles without tanking the economy…
How China’s Going to Try to Control Its Massive Housing Bubble
Investors Are Piling Into This Hot Real Estate ETF
Posted by: | CommentsToo much vanilla is growing tiresome for yield-hungry investors. So they’re trying out more exotic flavors — including a particularly hot real estate exchange traded fund.
The iShares U.S. Real Estate ETF, ticker IYR, took in $425 million last week, the largest weekly inflow in almost a year. The fund hadn’t seen more than $400 million since last December…
Investors Are Piling Into This Hot Real Estate ETF
Aussie Housing Market Is Four Times the Size of Economy
Posted by: | CommentsNot even the U.S. and U.K. markets achieved such heights at their peaks
Australia’s housing market dwarfs its economy after five years of red-hot price growth. The value of the nation’s homes has ballooned to A$7.3 trillion ($5.6 trillion) — or more than four times gross domestic product. Not even the U.S. and U.K. markets achieved such heights at their peaks a decade ago before prices spiraled lower and dragged their economies with them. “The risk is that it leaves the Australian economy extremely exposed, and a minor shock could become far more significant,” said Daniel Blake, an economist at Morgan Stanley in Sydney…
Hong Kong’s House Prices Could Soar Another 10% Next Year
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Prices seen rising 5%-10% next year after 11% growth this year
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Tight supply, cheap money, Bank of Mom and Dad fueling prices
Hong Kong’s red-hot housing market shows no signs of cooling anytime soon.
Prices in the city have climbed 11 percent this year, defying skeptics waiting for the bubble to burst and government attempts to rein in the world’s most expensive housing market through a raft of taxes and mortgage curbs…