Category: Top National News

Wall Street Journal, Sept. 3, 2017–Laura Kusisto, Valerie Bauerlein (subscription)Not even two weeks ago, this city had one of the weakest apartment markets in the country with tens of thousands of vacant units. Now landlords say prospective renters are lining up outside their doors and some have almost no units left.

Mortgage Daily, Sept. 1, 2017Past due payments on securitized commercial real estate loans turned lower as the wall of maturities subsided. The improvement was led by industrial loans, said Morningstar Credit Ratings LLC.

Mortgage Daily, Aug. 30, 2017For the second month in a row, the performance of securitized commercial real estate loans improved. Industrial loans led the decline in late payments, said Trepp LLC.

Wall Street Journal, Sept. 6, 2017–Josh Barbanel (subscription)Stribling Private Brokerage said contracts signed on Manhattan listings of $5 million or more have been sliding since May compared with recent years, after showing signs of recovery earlier this year.

Wall Street Journal, Aug. 29, 2017–Peter Grant (subscription)Investors are raising funds to take advantage of busted condominium projects and other distressed property as a correction shows signs of spreading in parts of the commercial real estate industry.

Newsday (N.Y.), Aug. 29, 2017–Zachary R. DowdySen. Chuck Schumer, D-N.Y., will call on his fellow lawmakers in Congress on Tuesday to renew the National Flood Insurance Program as torrential rains and flooding from Tropical Storm Harvey pummel southern Texas.

Times-Picayune (New Orleans), Aug. 28, 2017–Drew BroachHurricane Harvey’s ghastly flooding in the Houston area is sure to focus political attention on the National Flood Insurance Program, a controversial government benefit that makes home ownership affordable to many in south Louisiana. It’s $24 billion in debt, and unless Congress acts in the next 34 days, it will expire.

Reuters, Aug. 25, 2017Low inflation and a strong labor market in the United States are allowing the Federal Reserve to be “patient” about when it next raises interest rates, Fed Governor Jerome Powell said Friday.

Barron’s, Aug. 30, 2017–Amey StoneMajor flooding in Texas is putting at risk about $19.4 billion in properties financed by commercial mortgage-backed securities, according to Morningstar Credit Ratings.

Wall Street Journal, Aug. 29, 2017–Esther Fung (subscription)Houston’s office and retail real-estate markets are likely to get hurt by lost business in the weeks and months immediately following Hurricane Harvey.