HousingWire, Mar. 9, 2017–Kelsey RamirezThis cut would go towards Trump’s goal to cut domestic spending by $54 billion, and could decrease HUD’s budget 14% to $40.5 billion in fiscal 2018, which begins in October.
Category: Top National News
Manhattan Rents Fall for Every Apartment Size, Even Studios
Bloomberg, Mar. 9, 2017–Oshrat CarmielRents fell last month for Manhattan apartments of all sizes, the first across-the-board price decline in at least four years, as a construction boom brought more buildings to market and allowed some tenants to leave for bigger or newer units.
Key Takeaways: The CREF/MBA Conference 2017
HospitalityNet, Mar. 13, 2017–Brett E. Russell; Desiree M. FlanaryDavid Stevens, MBA president and CEO, put it starkly: “If you thought ’86 was a big deal, I encourage you to buckle up”–a reference to the 1986 Tax Reform Act and its ill effects on commercial real estate well into the next decade.
Commercial, Multifamily Mortgage Delinquencies Remain Low in U.S.
World Property Journal, Mar. 14, 2017–Michael GerrityAccording to the Mortgage Bankers Association’s most recent Commercial/Multifamily Delinquency Report, delinquency rates for commercial and multifamily mortgage loans remained low in the fourth quarter.
Shopping Malls Are Tracking Your Every Move
Wall Street Journal, Mar. 14, 2017–Esther Fung (subscription)As more shoppers tote smartphones while browsing in stores, shopping-center owners are tracking their movements and spending habits to try to figure out how best to arrange stores and mall layouts to boost shopping activity.
Top N.Y.C. Commercial Real Estate Deals: Zar Property Scores Midtown Office
New York Business Journal, Mar. 6, 2017–Anthony NotoZar Property NY’s $83 million transaction is the top commercial deal for February.
Taller Buildings Proposed for More of Seattle in Exchange for Affordable Housing
Seattle Times, Mar. 7, 2017–Daniel BeekmanDowntown Seattle and South Lake Union are the next neighborhoods where Mayor Ed Murray wants to allow taller buildings in exchange for help with affordable housing.
Sentiment on Market Cycle Phase Moves to ‘Peak’ Setting
National Real Estate Investor, Mar. 6, 2017 The percentage of NREI readers who feel this market cycle is at its peak has moved up in February compared to January.
Once-Skittish Investors Warming Up to Ginnie Mae Servicing Rights
National Mortgage News, Mar. 6, 2017–Bonnie Sinnock (subscription)Rising interest rates have slowed a recent run of unexpectedly high prepayments of government-insured mortgages, making servicing rights for loans held in Ginnie Mae securities more attractive to investors.
New Jersey Complex, Once Owned by a Drug Giant, Becomes a Home for Many
Wall Street Journal, Mar. 4, 2017–Keiko Morris (subscription)A sprawling 110-acre, research-and-development complex in Bridgewater, N.J., seemed poised a few years ago to join the growing ranks of suburban New Jersey office campuses left for dead as companies consolidated and moved to big cities. But a joint venture of investors is breathing life into the property.