The Lede
Top National News
Zillow Makes Big Move into Rental Services
HousingWire, Aug. 1, 2018--Jeremiah JensenZillow is at it again, aiming to take more ground in the rental market. This week, the online real estate giant rolled out new online tools that allow renters to apply for multiple rentals with one application that includes a background check and eviction history through Checkr and credit reports through Experian.
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Private Equity CRE Activity Falls In Q2
GlobeSt.com, July 31, 2018--Erika MorphyDespite the wave of public-to-private transactions the commercial real estate market has seen over the past quarter, the first half of 2018 has been marked by two consecutive quarters of decline in both the number of private equity deals announced and their aggregate value, according to new figures from Preqin.
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Young People Don’t Want Construction Jobs. That’s a Problem for the Housing Market
Wall Street Journal, July 31, 2018--Laura Kusisto (subscription)The construction business is having trouble attracting young job seekers. The share of workers in the sector who are 24 years old or younger has declined in 48 states since the last housing boom in 2005. Disinterest in construction work is contributing to a labor shortage that has meant fewer homes built and rising prices--possibly for years to come.
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The New Housing Play: Helping Priced-Out Renters Become Long-Distance Landlords
MarketWatch, July 30, 2018--Andrea RiquierRather than trying to swing the purchase of an expensive home, platforms like Roofstock, HomeUnion and Investability make it possible to for people in high-cost areas to purchase, finance and manage single-family rental properties. For many investors, those investment properties are thousands of miles away, where prices are vastly cheaper, rental demand is constant, and in many cases courts and regulations tend to side with landlords, not tenants.
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Wells Fargo Explores Sale of Real-Estate Broker Eastdil
Wall Street Journal, July 26, 2018--Craig Karmin, Dana Mattioli, Emily Glazer (subscription)The San Francisco bank has been sounding out private-equity firms to drum up interest in the real-estate brokerage and investment bank, sources said. Wells Fargo bought Eastdil in 1999 for an undisclosed sum in an effort to bolster its commercial real-estate-lending business.
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Dealmaker of the Week
People in the News
News and Trends
Institutional-Quality CRE Returns Grow in 2Q
Institutional-quality commercial real estate returned 1.81 percent between April and June, up from 1.70 percent in early 2018, the National Council of Real Estate Investment Fiduciaries reported.
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CMBS Delinquencies Could Decline Further
The commercial mortgage-backed securities delinquency rate is likely to fall further to finish 2018 between 2.25 percent and 2.75 percent, said Fitch Ratings, New York.
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Manhattan, New Jersey Office Markets Show Strength
Manhattan's office market shook off its "sluggish" early 2018 with a strong second quarter, reported Transwestern, Houston.
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In Some Metros, Soaring Home Values Make Renting More Enticing
Nearly two-thirds of American adults own homes. But in some metro areas, renters may have an incentive to stay renters.
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MBA Chart of the Week: Commercial/Multifamily Mortgages Intermediated to ‘Non-Traditional’ Lenders
The role of "non-traditional" lenders in commercial real estate finance increased significantly in 2017, but there is far more discussion about this than there is actual data.
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MBA Chart of the Week: Commercial/Multifamily Mortgages Intermediated to ‘Non-Traditional’ Lenders
The role of "non-traditional" lenders in commercial real estate finance increased significantly in 2017, but there is far more discussion about this than there is actual data.
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MBA Chart of the Week: Commercial/Multifamily Mortgages Intermediated to ‘Non-Traditional’ Lenders
The role of "non-traditional" lenders in commercial real estate finance increased significantly in 2017, but there is far more discussion about this than there is actual data.
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Office Rents Jump in Tech Worker-Heavy Markets
Value remains a key driver when firms choose an office location, but companies are willing to pay premium rents to access the highest quality tech talent, reported CBRE, Los Angeles.
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Commercial/Multifamily Briefs
Fannie Mae, Washington, D.C., priced its seventh Multifamily Delegated Underwriting and Servicing real estate mortgage investment conduit in 2018 totaling $717.8 million under its Fannie Mae Guaranteed Multifamily Structures program on July 18.
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