Bloomberg, June 16, 2023-Christopher CondonThe top US financial regulators say they are stepping up scrutiny of how exposed banks are to commercial real estate, as vacancy rates increase.https://www.bloomberg.com/news/articles/2023-06-16/top-us-regulators-flag-increasing-commercial-real-estate-risks#xj4y7vzkg
Category: Top National News
Wall Street Sours on America’s Downtowns
Wall Street Journal, June 20, 2023–Heather Gillers (subscription)The pessimism from investors who bet on office buildings and mass transit can be seen in market signals that are flashing redhttps://www.wsj.com/articles/cities-real-estate-bonds-taxes-c6736f8b?
U.S. Hotel Markets Recover From the Pandemic; San Francisco an Outlier
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/
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 …