Weekly News Roundup Multifamily Real Estate Review and Outlook The multifamily sector witnessed a demand surge, with a 114% year-over-year increase in 12-month absorption of units. Vacancy rates have escalated to a new 10-year high at 7.4%, a 0.9% increase from last year. Simultaneously, rent growth has bottomed to a 10-year low, with only a…
Weekly News Roundup Distressed Property Sales Stabilizing Market Investors with cash on hand have begun to snap up distressed properties or provide rescue capital to struggling owners in exchange for preferred returns. As of the end of 2023, commercial-property distress, including financially troubled assets and those taken over by lenders, totaled $85.8 billion, according to…
Weekly News Roundup Rents Drop for Wealthy, Rise for Everyone Else At penthouse apartments and sprawling single-family homes, property owners are offering big discounts and move-in deals to keep units full. These price cuts follow the largest wave of apartment construction in decades. The surplus of new housing is driving down prices at the top…
Weekly News Roundup Thriving Retail Real Estate Means no Discounts Retail property owners are shedding the discounts and other concessions they offered struggling tenants during the depths of the pandemic, the latest sign that competition for retail real estate is intensifying. It is a fairly recent turn of events for retail real estate, which for…
Big Decline in Real Estate Transactions, but not PricesCity of Tomorrow on Ballot in CaliforniaHome Sales Lowest in Almost 30 Years Big Decline in Real Estate Transactions, but not Prices There was just $374 billion of real estate sold in the U.S. last year, according to MSCI data released Wednesday, a 51% fall compared with…
Weekly News RoundupZuckerberg’s $270m+ Island FortressChinese Investor Major Holder of Timber LandCBRE Real Estate Forecast 2024 Zuckerberg’s Island FortressMeta CEO Mark Zuckerberg is building a sprawling compound in Hawaii with a huge underground bunker. The property, known as Koolau Ranch, will include a 5,000-square-foot underground shelter, have its own energy and food supplies, and, when…
Real Estate News Headlines Forever Renters Rise in Housing Housing Slowdown in Charts Upzoning for High-Density Housing Forever Renters Rise in HousingMany who would traditionally be homeowners have become long-term renters, including some with no plans to ever buy a home. Sustained high interest rates in the U.S. have made mortgages unpalatable to many….
Real Estate News HeadlinesOffice Building Stocks Up BigWho is Buying Farmland?Interest Rates Fall, Housing Demand Rises Office Building Stocks Up Big Shares of battered down office landlords had their biggest one-day rally in three years last week, after inflation data came in lower than anticipated and expectations rose that the Federal Reserve was done raising interest…