New York Times, June 8, 2023-Kalia RichardsonAs more workers convert their living rooms and bedrooms to home offices, more commercial spaces are left vacant. The evolving work space is one …
Category: Top National News
Renters By Choice Lead Urban Return
Multi-Housing News, June 7, 2023–Lew SichelmanColumnist Lew Sichelman discusses changing preferences for senior renters showcased at the National Association of Real Estate Editors.bit.ly/3J7qZ9d
Delinquent Office Loans at Five-Year High Trouble Commercial Mortgage Bond Market
Bloomberg, June 8, 2023-Carmen Arroyo and Scott Carpenter (subscription)Near-empty office buildings, already a problem plaguing U.S. cities, are becoming a worry for mortgage bondholders as landlords fall behind on repayments …
S.F.’s Hotel Pain Could Spread as More Than 30 Owners Face Mortgage Deadlines
San Francisco Chronicle, June 7, 2023-Roland Li (subscription)Park Hotels & Resorts’ plan to surrender ownership of two of San Francisco’s biggest hotels reflects the city’s slow tourism recovery and the …
The Next Crisis Will Start With Empty Office Buildings
The Atlantic, June 7, 2023-Dror Poleg“I’m about to cancel all my Zoom meetings.” It was May 2021, and Jamie Dimon had had enough. The JPMorgan Chase CEO expected that “sometime …
REITs Increase MBS Holdings Amid Market Volatility
Inside Mortgage Finance, June 7, 2023–John Bancroft (subscription)With banks and the Fed shedding mortgage-backed securities, REITs added to their portfolios.https://www.insidemortgagefinance.com/articles/228020-reits-increase-mbs-holdings-amid-market-volatility?v=preview
Is The Residential Rent “Correction” Already Over?
Forbes, June 8, 2023–Brad HunterReal estate investors and developers have been concerned in recent months about the direction of rents. Rents on multifamily apartments as well as rental homes and …
The Tilt of San Francisco’s Millennium Tower has Deepened as Engineers Work to Reverse Lean
New York Post, June 12, 2023–Katherine DonlevyThe Bay Area’s 545-foot-tall Millennium Tower has only continued to tilt further and sink deeper west in spite of architects’ best efforts to steady …
The Long Road to Accommodating EVs
CommercialSearch, June 7, 2023–Lew SichelmanAs the electric vehicle industry is growing, commercial real estate owners and developers are grappling with what to build and where.https://www.commercialsearch.com/news/accommodating-evs-has-a-long-way-to-go/
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 …