Voice of America, Sept. 18, 2017–Jim RandleU.S. central bank leaders are expected to hold the key interest rate steady this week, but they may begin trimming a huge bond-buying program that was intended to boost economic growth.
Category: Top National News
Equifax Hack: The Real Estate Industry Is Just As Vulnerable
Forbes, Sept. 15, 2017–Lara O’KeefeLast week’s Equifax data breach shed light once again on the possible ramifications of hacks in the commercial real estate industry if companies do not invest in cybersecurity tech.
Treasury Secretary Mnuchin: Fannie, Freddie Reform a 2018 Issue
HousingWire, Sept. 15, 2017–Kelsey RamirezMnuchin said moving Fannie Mae and Freddie Mac out of conservatorship will come after tax reform, and will be an issue brought up in 2018. He said the mortgage giants still have a lot of changes they need to make before being moved out of conservatorship.
U.S. Retail Sales Fall After Weaker Results in Prior Months
Bloomberg, Sept. 15, 2017–Sho ChandraAn unexpected decline in August retail sales and downward revisions to the prior two months mainly reflected weaker results at auto dealerships, Commerce Department figures showed Friday.
San Francisco Edges Out Washington to Become the Highest-Income Big U.S. Metro Area
Wall Street Journal, Sept. 14, 2017–Ben Leubsdorf, Paul Overberg (subscription)The technology hub of San Francisco surpassed the nation’s capital last year as the highest-earning large U.S. metropolitan area. Median household income in the San Francisco metro area in 2016 was $96,667, just ahead of the $95,843 figure for the Washington region, the Census Bureau announced Thursday.
Irma-Related Damage Could Affect Billions of Dollars in CMBS
National Mortgage News, Sept. 14, 2017–Elina Tarkazikis (subscription)Damage from Hurricane Irma could affect some $26.6 billion in commercial mortgage-backed securities, according to Morningstar Credit Ratings.
Manhattan’s Eager Renters Can’t Make a Dent in Apartment Supply
Bloomberg, Sept. 14, 2017–Oshrat CarmielRenters signed 7,061 new leases in August, the most for any month in data going back to January 2008, according to a report Thursday by appraiser Miller Samuel Inc. and brokerage Douglas Elliman Real Estate. Despite all those deals, vacancies climbed to 2.27 percent from 2.14 percent a year earlier, the first annual increase since February.
Unusually Large Loans Mask Decline In NYC Commercial Real Estate Lending
Forbes, Sept. 20, 2017–Ely Razin Second quarter commercial real estate loan originations in New York City weren’t just big, they were really, really big. The size of those loans appears to be masking what would otherwise look like a decline in New York loan origination for the quarter.
Why Pricing Terrorism Risk Remains a Challenge for CRE Insurers
National Mortgage News, Sept. 11, 2017–Elina Tarkazikis (subscription)The Terrorism Risk Insurance Act was created after 9/11 to serve as a crucial federal backstop for commercial real estate insurers, but an analysis of alternatives to fund the program reveals the continued challenges of measuring and predicting terror risk.
In Harvey’s Wake, Houston Rethinks Real Estate Development
Wall Street Journal, Sept. 11, 2017–Douglas Belkin, Shibani Mahtani (subscription)Now, after Hurricane Harvey killed at least 50 people and caused roughly $180 billion in damage, a battle is shaping up over how best to oversee real-estate development in Houston.