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.
Category: Top National News
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.
London Retains Its Crown as World’s Top Financial Center
Bloomberg, Sept. 11, 2017–Gavin FinchLondon retained its crown as the world’s top financial center in a ranking that surveys industry professionals, extending its lead over New York and Hong Kong despite ongoing uncertainty about the implications of Brexit.
Demand for Student Housing Shows Signs of Slowing Down
National Real Estate Investor, Sept. 11, 2017–Bendix Anderson This summer–for the first time in several years–student housings beds were not leasing as quickly as the year before.
Couple Launches Video to Raise Awareness of Prostate Cancer
Smith Mountain Laker (Va.), Sept. 12, 2017–Karen DillonMBA President and CEO David Stevens talked about his diagnosis, the importance of cancer research and a YouTube video he and Mary recorded and released for National Prostate Cancer Awareness Month.
One Beneficiary From Hurricane Harvey: Self-Storage Landlords
Wall Street Journal, Sept. 12, 2017–Esther Fung (subscription)Storage operators, which typically rent units ranging from 5 feet by 5 feet to as large as 10 feet by 25 feet, often report stronger demand following a natural disaster as residents look for a place to keep their belongings while they focus on rebuilding their property.
New York City Property Market Turns Cautious: Broker Survey
Reuters, Sept. 12, 2017–Herbert LashProspects for New York City’s property market remain strong yet greater caution can be seen as buyers turn more hesitant and sellers seek unrealistic prices, a trade association’s second-quarter survey of broker sentiment showed on Tuesday.
MBA CEO on the 9-Year Anniversary of GSE Conservatorship
HousingWire, Sept. 8, 2017″After nine years of this untenable status quo, GSE reform is of the utmost priority,” David Stevens, CMB, said in a blog post. “Congress has an obligation now to act to stabilize the housing finance system for the future and make it more resilient in economic downturns.”
National Flood Insurance Program Granted 3-Month Extension
HousingWire, Sept. 8, 2017–Brena SwansonPresident Donald Trump signed a three-month extension to the National Flood Insurance Program on Friday, giving Congress more time to come up with a long-term financial solution for the program.
The 10 Highest-Paid REIT CEOs
National Real Estate Investor, Sept. 8, 2017–Mary DiduchS&P Global Market Intelligence examined compensation information for public real estate investment trust chief executive officers in the U.S. from 2014 to 2016.