A report from Commercial Property Executive. "An inverted yield curve and forecasts of a dropoff in job growth are among the signals that the industry’s long, great ride may soon be ending, says economist Hugh Kelly. Lenders have generally been disciplined, but those financing projects at the riskier end of the spectrum may face trouble as the cycle turns. These include regional banks financing construction projects and mezzanine lenders who have not delved deeply enough into property inspections."

"Perhaps, though, the most significant item I’d like to underscore is that the very allusion to the late-cycle syndrome suggests that, following a recession, we will inevitably 'get back to normal.' Normal, in this view, is the growth pattern of the economy in the most recent upcycle."

"But the odds are that the 2020s will see growth at a mere fraction―around one-half―of the expansion following the Global Financial Crisis. Are the real estate markets prepared for that kind of lengthy slowdown in demand? I suspect not."

From Realtor.com. "These are discount days for renters, as landlords roll out an onslaught of concessions: promos, discounts, and deals to help lure prospective tenants. A building boom in high-end rental developments over the past few years has yielded an oversupply of new luxury rental units in the nation's biggest cities."

"Construction pretty much ground to a halt during the housing bust and recession of 2008–09, but it ramped up with a vengeance as the economy has improved. The past three years have been the strongest growth period for new apartment construction nationally since the 1980s, according to Yardi Matrix."

"'We still have thousands of units coming in that are skewed to the higher end of the market,' says national real estate appraiser Jonathan Miller. 'The concessions on these new buildings are usually double that of existing buildings.'"

"'In Los Angeles, for example, 'you’ll see things like $500 AmEx gift cards, free Wi-Fi, buildings with elaborate Starbucks machines in the foyer where you can get free coffee,' says local real estate agent Kerry Marsico of The Agency. 'They’re throwing in things like free parking as well.'"

"That's because by 2018, there were more than 7,100 apartments under construction in Los Angeles's downtown area alone, according to the city's Downtown Center Business Improvement District. The estimated downtown population is also projected to grow from the current 74,558 to 87,655, according to the group."

"'There are now thousands and thousands of units that have to be filled, and buildings have to compete to get people in the door,' Marsico says."

The Times Herald in California. "Vallejo’s rents fell harder and further in January, than nearly anywhere else in the Bay Area, which could be some welcome news for renters and would-be renters, according to the Zumper SF Bay Area Metro Report."

"Already the most affordable Bay Area city for rents, Vallejo’s median one-bedroom unit rent — $1,320 – fell more than 4 percent compared to December. Napa saw the median one-bedroom price fall slightly more than 5 percent to $1,660 month-over-month, and 3.5 percent compared to a year ago. A two-bedroom place in Napa fell nearly 5 percent to $2,180 compared to December."

"'The most notable changes in Vallejo are that one bed rent is down 4.3 percent month to month, which is the third largest monthly dip for one bedrooms of 30 cities, and along with this, one bedroom rent is down 12 percent year over year as well,' Zumper spokeswoman Crystal Chen said. 'It seems after a hot summer/fall with large and constant rent increases, this is the first time Vallejo is seeing a big, double digit decrease.'"

From WICZ on New York. "Binghamton Mayor Rich David delivering his sixth State of the City address Wednesday night. When addressing the city’s housing, David went over new housing projects across the city, which is currently oversaturated with student housing."

From CNBC Make It. "The stars of ABC's 'Shark Tank' are self-made moguls, and after getting their first taste of wealth, they were not shy to about splashing out. Shark Daymond John's first splurge was no exception, and it was jaw-dropping, even by the Sharks' standards."

"After he had his first financial success, John recalls he went house-hunting in Miami and may have gotten a little carried away. 'I bought a couple of houses at the same time,' John tells Make It. 'I went to Miami to go shopping, and I bought two houses. They were like, 10 blocks away from each other.'"

"'One on was a condo, and then I realized I wanted a boat, and with the condo, I didn't have a marina,' John reasons. 'So, then I needed to buy a house on the water, so I could buy the boat.'"

"John recalls the extravagant financial mistake with a laugh. 'Oh did I learn from that experience,' John says. 'I got my a-- handed back to me, yes I did.'"

"He learned an important lesson from that frivolous first splurge: 'You can't sleep in two beds in one night, and you just don't need it,' John says. 'My friends and everybody else enjoyed the houses more than I did.'"