MarketWatch, Aug. 2, 2018–Andrea RiquierIt’s a truism among real estate professionals that properties can strong price growth or great cash flow, but not both. In the world of houses investors buy in order to lease out, metro areas in the middle of the country will likely offer dependable rental streams but none of the runaway price appreciation seen in coastal areas like Seattle.
Category: Top National News
Freddie Mac Looks to Cap Rent Increases With New Financing Program
Wall Street Journal, Aug. 7, 2018–Laura Kusisto (subscription)The initiative acts similar to rent control-which has been gaining traction in many parts of the country-by keeping units in private hands and controlling the rate of rent increases. But it comes with less political baggage because it is voluntary.
RealPage Continues Growth, Plans $100M Acquisition of LeaseLabs
HousingWire, Aug. 3, 2018–Ben LaneRealPage announced late Thursday that it is planning to acquire LeaseLabs, a provider of digital marketing services and software to approximately 800,000 units in the multifamily housing industry, in a $100+ million deal.
Mall Bear Doubles Down on Bet, Even as Shopping Centers Show Some Life
Wall Street Journal, Aug. 7, 2018–Esther Fung (subscription)A hedge-fund manager known for wagering on the demise of the weakest American malls is raising the stakes, betting some of the hardest-hit shopping centers are in a death spiral.
Zillow Makes Big Move into Rental Services
HousingWire, Aug. 1, 2018–Jeremiah JensenZillow is at it again, aiming to take more ground in the rental market. This week, the online real estate giant rolled out new online tools that allow renters to apply for multiple rentals with one application that includes a background check and eviction history through Checkr and credit reports through Experian.
Private Equity CRE Activity Falls In Q2
GlobeSt.com, July 31, 2018–Erika MorphyDespite the wave of public-to-private transactions the commercial real estate market has seen over the past quarter, the first half of 2018 has been marked by two consecutive quarters of decline in both the number of private equity deals announced and their aggregate value, according to new figures from Preqin.
Young People Don’t Want Construction Jobs. That’s a Problem for the Housing Market
Wall Street Journal, July 31, 2018–Laura Kusisto (subscription)The construction business is having trouble attracting young job seekers. The share of workers in the sector who are 24 years old or younger has declined in 48 states since the last housing boom in 2005. Disinterest in construction work is contributing to a labor shortage that has meant fewer homes built and rising prices–possibly for years to come.
The New Housing Play: Helping Priced-Out Renters Become Long-Distance Landlords
MarketWatch, July 30, 2018–Andrea RiquierRather than trying to swing the purchase of an expensive home, platforms like Roofstock, HomeUnion and Investability make it possible to for people in high-cost areas to purchase, finance and manage single-family rental properties. For many investors, those investment properties are thousands of miles away, where prices are vastly cheaper, rental demand is constant, and in many cases courts and regulations tend to side with landlords, not tenants.
Wells Fargo Explores Sale of Real-Estate Broker Eastdil
Wall Street Journal, July 26, 2018–Craig Karmin, Dana Mattioli, Emily Glazer (subscription)The San Francisco bank has been sounding out private-equity firms to drum up interest in the real-estate brokerage and investment bank, sources said. Wells Fargo bought Eastdil in 1999 for an undisclosed sum in an effort to bolster its commercial real-estate-lending business.
Design Parking Garages So They Can Easily Become Housing
Fast Company Magazine, July 23, 2018–Megan RidgewayAs a future where there are vastly fewer cars becomes possible, we should consider future-proofing new parking lots to make sure they can easily transition into other uses once they’re no longer needed.