Wall Street Journal, Oct. 24, 2017–Suzanne Kapner, Eliot Brown (subscription)Lord & Taylor is selling its flagship New York City store for $850 million, a move that will convert most of the landmark building into office space and the headquarters of real estate startup WeWork Cos.
Category: Top National News
Big Mall Operator Does the Unthinkable–Builds a Mall
Wall Street Journal, Oct. 24, 2017–Suanne Kapner (subscription)On a bright August morning, GGP Inc., one of the country’s largest mall operators, did the unthinkable. It broke ground on a new shopping mall, a seemingly risky bet in a world where retailers are closing hundreds of stores and malls across the country are trying to reinvent themselves. It could be one of the last enclosed malls ever built in the U.S.
What HMDA Changes Mean for Lenders
HousingWire, Oct. 24, 2017–Sarah WheelerLet’s go with the good news: After collecting expanded data on borrowers under the Home Mortgage Disclosure Act rule changes, lenders are going to have greater insight than ever before on their lending practices. The bad news? So is everyone else.
Trump Picks MBA’s Len Wolfson to Serve as HUD Assistant Secretary
HousingWire, Oct. 20, 2017–Ben LaneThursday, the Trump administration announced its intention to nominate Len Wolfson to serve as HUD assistant secretary congressional and intergovernmental relations.
MBA: Multifamily Lending Hit Record High in 2016
National Mortgage Professional, Oct. 19, 2017–Phil HallThe multifamily lending sector ended 2016 on an eight percent year-over-year increase, setting a new peak with nearly 3,000 different lenders originating $269.2 billion in new mortgages for apartment buildings with five or more units, according to the Mortgage Bankers Association.
Rental Listing Service Reports Baby Boomers Leaving Homeownership in Droves
HousingWire, Oct. 19, 2017–Kelsey RamirezIt is actually not Millennials who are pouring into the rental market, but Baby Boomers, according got the latest report from RENTCafé, a nationwide internet listing service that enables renters to find apartments and houses for rent throughout the U.S.
Rising Rents Are Stressing Out Tenants And Heightening America’s Housing Crisis
Forbes, Oct. 19, 2017–Joel Kotkin, Wendell CoxThere is a strong relationship between high rents and high house prices. This essentially brings into the rental market more affluent tenants who directly compete with those with lower incomes.
MBA to Congress: We’re Ready and Open to Working on Tax Reform
HousingWire, Oct. 17, 2017–Brena SwansonAs the debate around what tax reform looks like heightens, the Mortgage Bankers Association is jumping in on the conversation, saying that they support the opportunity for comprehensive tax reform.
The Ten Zip Codes With the Most Valuable Land in the U.S.
Bloomberg, Oct. 17, 2017–Patrick ClarkBounded by the Pacific Ocean and two of the Los Angeles area’s most exclusive country clubs, the 90402 zip code would meet most definitions of prime real estate. In fact, according to a new study, it’s the most exclusive address in the U.S.
How Some Malls Manage to Stay Alive Years After Losing Their Mojo
Wall Street Journal, Oct. 17, 2017–Esther Fung (subscription)The U.S. has far too many malls scrambling to attract consumers at a time when online shopping is tightening its grip. That doesn’t mean middling malls will die quickly, however.