Commercial Property News, Aug. 14, 2023–Paul FiorillaAs property owners try to handle the fallout of higher interest rates, the industry faces another debt market hurdle: regulatory changes for large banks …
Category: Top National News
Hawaii Mulls Ban on Sale of Burned Houses to Prevent Developers From Trying to ‘Steal Land’
Time magazine, Aug. 15, 2023–David BakerHawaii Governor Josh Green said he would consider a temporary ban on sales of any properties damaged in the fire that leveled Lahaina last week, …
No, Small Banks Aren’t Holding the Bag on Half-Empty Towers
Bloomberg News, Aug. 14, 2023–Justin FoxContrary to a widespread figure, local and regional lenders don’t hold 70% of US commercial real estate debt. It’s closer to 32%.https://www.bloomberg.com/opinion/articles/2023-08-14/no-small-banks-aren-t-holding-the-bag-on-half-empty-office-towers?
Homebuilder Stocks Rise After Buffett’s Berkshire Unveils New Bet
The Wall Street Journal, Aug. 15, 2023-Hannah Miao (subscription)Shares of D.R. Horton, NVR and Lennar rose in early trading Tuesday after Warren Buffett’s Berkshire Hathaway revealed new positions in the …
Housing Market Is Still Working in Home Depot’s Favor
The Wall Street Journal, Aug. 15, 2023-Jinjoo Lee (subscription)High mortgage rates are keeping more potential home buyers on the sidelines and homeowners glued to their existing homes.https://www.wsj.com/articles/housing-market-is-still-working-in-home-depots-favor-befe47ec
Investors Wary of Commercial-Property Risks Hold Back on Loans
Bloomberg News, Aug. 15, 2023-John Gittelsohn (subscription)Lending for commercial real estate in the US has plunged — and it isn’t just banks that are holding back.https://www.bloomberg.com/news/articles/2023-08-15/investors-wary-of-commercial-property-risks-hold-back-on-loans
Homebuilder Sentiment Drops Sharply, as Mortgage Rates Surge Over 7%
CNBC, Aug. 15, 2023-Diana OlickRising mortgage rates are hitting potential homebuyers hard, and that is taking steam out of the homebuilding market.https://www.cnbc.com/2023/08/15/homebuilder-sentiment-drops-mortgage-rates-surge.html
New Home Purchase Mortgage Applications Up 35.5%
National Mortgage Professional, Aug. 15, 2023-Keith GriffinThe bright spot in the mortgage industry continues to be new home purchases. The Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data for …
Ginnie Issuance Slows in July on FHA Activity
Inside Mortgage Finance, Aug. 15, 2023–Monica Hogan (subscription)Issuance of Ginnie Mae mortgage-backed securities declined on a monthly basis in July, according to a new Inside FHA/VA Lending analysis. The downturn …
Wall Street Is Ready to Scoop Up Commercial Real Estate on the Cheap
The Wall Street Journal, Aug. 15, 2023-Peter Grant (subscription)Wall Street firms are raising new funds to acquire office buildings, apartments and other troubled commercial real estate, looking to scoop up …