GlobeSt.com, Aug. 07, 2023–Erik ShermanHigher financing costs are not the only fiscal strain on CRE in general and multifamily specifically. Operating expenses have risen sharply and are unlikely to recede …
Category: Top National News
Property Loans Are So Unappealing That Banks Want to Dump Them
Bloomberg News, Aug. 7, 2023-Natalie WongBanks seeking to sell commercial-property loans are encountering a dried-up market with few options for an easy exit.https://www.bloomberg.com/news/articles/2023-08-07/property-loans-are-so-unappealing-that-banks-want-to-dump-them#xj4y7vzkg
A Real-Estate Haven Turns Perilous With Roughly $1 Trillion Coming Due
The Wall Street Journal, Aug. 7, 2023-Konrad Putzier and Will Parker (subscription)Apartment buildings, long considered a real-estate haven, are emerging as the next major trouble spot in the beleaguered commercial-property …
Office Vacancies Drive Up Delinquencies in Commercial Real Estate
Wall Street Journal, Aug. 2, 2023-Ben Foldy (subscription)Distress is continuing to build in commercial real estate as offices struggle with vacancies.https://www.wsj.com/livecoverage/stock-market-today-08-02-2023/card/office-vacancies-drive-up-delinquencies-in-commercial-real-estate-Q9vMAszczcxEs7ctsU3J?
Why Warehouse Rents Keep Going Up While Demand Is Dropping
Wall Street Journal, Aug. 2, 2023-Liz Young (subscription)Warehouse rental prices across the U.S. have never been as high as they were in the second quarter, when the average asking rent …
Industry Warns Against Tenant Protections Attached to Federally Backed Loans
The Real Deal, Aug. 1, 2023–Nicole RosenthalOn the last day to comment on adding tenant protections at multifamily properties with federally backed loans, a major industry group unleashed a fusillade …
Democrats Back Limiting Rent Hikes, Sparking Industry Pushback
POLITICO Pro, Aug. 1, 2023-Katy O’Donnell (subscription)Senate Democrats and tenant advocates are pressing the Biden administration’s top housing regulator to curb rent increases at some 12 million apartment units, triggering …
Multifamily Lending Declined 1% Between 2021-22: MBA
Housing Wire, Aug. 1, 2023-Chris Clow (subscription)More than 2,200 different multifamily lenders provided $480.1 billion in new mortgages for apartment buildings with five or more units in 2022, a reduction …
MBA Advises FHFA Against Tightening Rent Control
MPA, Aug. 1, 2023-Candyd MendozaThe Mortgage Bankers Association is urging the Federal Housing Finance Agency to refrain from enacting additional obligations for renters that may disincentivize them from participating in …
Local Malls, Stuck in ‘Death Spiral,’ Plunge in Value
Wall Street Journal, July 31, 2023-Kate King (subscription)WATERFORD, Conn.—Crystal Mall’s parking lots used to be so crowded that parents would line up to drop off their teenagers near one of …