Reuters, June 16, 2023-Doyinsola Oladipo A snapshot of 15 major U.S. hotel markets shows that travel to cities is rebounding, with one notable exception: San Francisco.https://www.reuters.com/markets/us/us-hotel-markets-recover-pandemic-san-francisco-an-outlier-2023-06-16/
Category: Top National News
Buying Costs $1,000 More Per Month Than Renting
The Real Deal, June 16, 2023-Holden Walter-WarnerThe gap between renters and buyers is growing — in favor of the renters.https://therealdeal.com/national/2023/06/16/buying-costs-1000-more-per-month-than-renting/
Wells Fargo Lands Buyer for San Francisco Office Tower at Deeply Discounted Price
CoStar News June 9, 2023–Katie BurkeAfter nearly a year of gauging the health of the San Francisco office market, Wells Fargo is finalizing a deal to sell off downtown property …
Rescue Capital Lines Up for Opportunities on Multifamily Properties
Wealth Management Real Estate, June 14, 2023–Bendix AndersonOften positioned preferred equity, the capital is coming into play on properties that have shortfalls due to newly tightened capital markets.https://www.wealthmanagement.com/multifamily/rescue-capital-lines-opportunities-multifamily-properties?
Rent Inflation Creating an ‘Emergency For Many People’: Economist
Yahoo Finance, June 16, 2023Inflation in rent prices is putting many households at risk of falling into financial instability. Zillow Chief Economist Skylar Olsen breaks down where inflation and elevated …
Rescue Capital Lines Up for Opportunities on Multifamily Properties
Wealth Management Real Estate, June 14, 2023–Bendix AndersonOften positioned preferred equity, the capital is coming into play on properties that have shortfalls due to newly tightened capital markets.https://www.wealthmanagement.com/multifamily/rescue-capital-lines-opportunities-multifamily-properties?
Rents Keep Rising, but More Slowly. It’s Good for Inflation.
Barrons, June 12, 2023–Shaina Mishkin (subscription)Fortunately for renters considering a move this year, and for those watching the outlook for inflation, rent increases this spring have been slower than usual. …
Hotel Owners Start to Write Off San Francisco as Business Nosedives
Wall Street Journal, June 12, 2023-Kate King (subscription)San Francisco’s once thriving hotel market is suffering its worst stretch in at least 15 years, pummeled by the same forces that have …
Workers Want to Stay Remote, Prompting an Office Real Estate Crisis
Washington Post, June 12, 2023–Caroline O’DonovanConcern about a commercial real estate crisis in cities like San Francisco is spiking, but brokers say the real impact of remote work and low …
PGIM CEO Expects 60% of Office Buildings to Enter Purgatory
GlobeSt.com, June 9, 2023–Erik ShermanTalk about grim. PGIM Chief Executive Officer David Hunt’s take on the future of office properties is dimmer than major east coast metro skylines have been …