Dow Jones, May 31, 2023–Jeffry BartashHiring tapered off a bit in May and inflation increased at a slower pace, a Federal Reserve survey found, but the economy expanded again and …
Category: Top National News
Build-to-Rent Construction Rates Tripled in 2022 and Hit Record Completions
GlobeSt.com, May 31, 2023–Erik ShermanThe build-to-rent industry has gone to town by constructing their own, according to Yardi’s RentCafe. The completion volume jumped from 9,928 in 2021 to 2022’s 14,500 …
Home Builders Cutting Mortgage Rates to Keep Sales Flowing
Las Vegas Review-Journal, May 30, 2023–Patrick BlennerhassettWith mortgage rates at their highest level since mid-March, homebuilders in Las Vegas are employing a long-used tactic to help keep sales flowing during …
Servicing the Biggest Benefit for Ellington in Arlington Buy
National Mortgage News, May 30, 2023–Brad Finkelstein (subscription)Ellington Financial, in a bid to increase its mortgage servicing portfolio, agreed to buy Arlington Asset Investment in a stock and cash deal …
Adams Returns Housing to Deputy Mayor’s Portfolio
The Real Deal, May 30, 2023-Kathryn BrenzelMayor Eric Adams on Tuesday announced that Maria Torres-Springer will take over the responsibilities of departing chief housing officer Jessica Katz. Torres-Springer’s title will …
More Than 1 in 4 American Homeowners Is ‘House Poor’
New York Times, May 30, 2023-Debra KaminMore than one quarter of homeowners in the United States are “house poor,” spending more than 30 percent of their income on housing costs, …
US Banks Mull Office-Space Loan Exposure at Citi Event and Prepare for a Slow Boil
MarketWatch, May 30, 2023-Steve GelsiBig U.S. banks face a challenging environment for office-space loans but the situation is expected to remain manageable for lenders over time, Citi analyst Keith Horowitz …
Debt Ceiling Uncertainty Could Push Mortgage Rates Higher in June
NerdWallet, May 30, 2023-Holden LewisThe economic outlook is hazy any month of the year, but June’s uncertainty is murkier than usual. The unpredictability is driven by two unknowns: the fate …
Office Owners Dump Lesser Buildings for Whatever They Can Get
Wall Street Journal, May 30, 2023–Peter Grant(subscription)New York City developers start to unload least-viable properties at deep discountshttps://www.wsj.com/articles/office-owners-dump-lesser-buildings-for-whatever-they-can-get-4f3d2948
CRE Companies Need to Be Wary of Carbon Offsets
GlobeSt.com, May 30, 2023–Erik Sherman (subscription)While some are fine, others might do little to nothing for the environment and ultimately have a negative impact on reputation.https://www.globest.com/2023/05/30/cre-companies-need-to-be-wary-of-carbon-offsets/?