Politico, Oct. 18, 2020–Katy O’DonnellAs tenants stop paying and shrink their offices, commercial real estate is cratering. (MBA mention)https://www.politico.com/news/2020/10/18/next-economic-crisis-empty-retail-space-429994
Category: Top National News
Shoppers Came Back To Department Stores In September, Lifting Retail Sales
NPR, Oct. 16, 2020–Alina SelyukhShoppers bought more clothes and cars and even returned to beleaguered department stores in September. This helped lift U.S. retail spending by a stronger-than-expected 1.9% compared …
What It’s Like To Open A New Hotel In The Midst Of The Pandemic
NPR, Oct. 15, 2020–Alina SelyukhWhy would anyone open a new hotel in the middle of a pandemic? NPR talks with the owners of small hotel chains who did just that.https://www.npr.org/2020/10/15/924058531/what-its-like-to-open-a-new-hotel-in-the-midst-of-the-pandemic
The Two California Ballot Measures That Worry Commercial Lenders
National Mortgage News, Oct. 14, 2020–Bonnie Sinnock (subscription)One could change how commercial property is taxed, the other could change rent control policies. Both might affect financing.https://www.nationalmortgagenews.com/?
Abandoned City Offices Are Still a Safer Property Bet
Wall Street Journal, Oct. 14, 2020–Carol Ryan (subscription)For clues about how remote working may hit demand for offices, investors can look at the uneven impact of e-commerce on retail landlordshttps://www.wsj.com/articles/abandoned-city-offices-are-still-a-safer-property-bet-11602666730?
Renters Flock to Suburbia, Upending Decade-long Urbanization Trend
Wall Street Journal, Oct. 13, 2020–Peter Grant (subscription)Apartment rents are rising in suburban markets across the U.S. as city dwellers look for bigger spaces in smaller towns. New suburban tenants …
U.S. Life Insurers May Face Spike in Mortgage Loan Losses: Fitch
ThinkAdvisor, Oct. 12, 2020–Les ShaverFitch Ratings expects life insurers to see 50% more losses on mortgage loans than what they saw during the Great Recession.https://www.thinkadvisor.com/2020/10/12/u-s-life-insurers-may-face-spike-in-mortgage-loan-losses-fitch/
A Longstanding Tax Break for Real Estate Investors Could be Coming to an End
MarketWatch, Oct. 12, 2020–Bill BischoffThe IRS recently issued new regulations affecting Section 1031 like-kind exchanges.and the Nov. 3 election could determine its future as well.https://www.marketwatch.com/story/a-longstanding-tax-break-for-real-estate-investors-could-be-coming-to-an-end-11602282199
Advocates Plead for Housing Aid as Eviction Cliff Looms
The Hill, Oct. 11, 2020–Sylvan LaneA potentially dire housing crisis could erupt if the Trump administration and Congress fail to reach a deal on further coronavirus relief that includes eviction …
Manhattan Apartments Haven’t Been This Cheap to Rent Since 2013
Bloomberg, Oct. 8, 2020–Oshrat CarmielApartment listings tripled from a year earlier to 15,923, the largest monthly inventory in records dating back to 2006, according to a report Thursday by appraiser …