A report from the Philadelphia Inquirer in Pennsylvania. "The deal was simple: Property mogul Chris Rahn got to buy a bundle of 22 vacant, publicly owned lots on the cheap. In exchange, records show he was expected to build homes…
A report from the Wall Street Journal. "Existing-home sales fell 2.5% in November from October to a seasonally adjusted annual rate of 6.69 million, the National Association of Realtors said. It was the first decline in six months. 'Without a…
A report from Business Insider on Florida. "Ken Griffin is selling both of his Miami Beach penthouses for at least a 20% loss, Katherine Kallergis reported for the Real Deal. Griffin bought the two Faena House penthouses in 2015. At…
A report from National Mortgage Professional. "'Four months into the pandemic, the 120-day delinquency rate for July spiked to 1.4%,' said Dr. Frank Nothaft, chief economist at CoreLogic. 'This was the highest rate in more than 21 years and double…
A report from Mortgage News Daily. "Mortgage delinquencies spiked in June and the serious delinquency rate, loans 90 or more days past due but not in foreclosure, reached its highest level in more than five years. CoreLogic predicts that, barring…
Two reports from the Wall Street Journal. "The FTSE Nareit Equity Apartments index, which tracks the stock prices of publicly traded apartment landlords, is down more than 21% year to date. A big reason: Dramatic cuts in rents in coastal…
A report from Bloomberg. "The commercial property market has largely been frozen as buyers and sellers struggle to agree on what buildings are worth. Transactions for apartments plunged 70% in the second quarter compared with a year earlier, according to…
A report from the Philadelphia Inquirer in Pennsylvania. "Economic uncertainty during the pandemic has led banks to tighten their lending standards. The supply of mortgage credit has fallen by more than 30% from February to June, according to the Mortgage…
A report from CBS 12 in Florida. "Florida is ranked fifth in the country for mortgage delinquency, according to Black Knight. Right now there are almost 94,000 unemployment claims in Florida according to the state's Department of Economic Opportunity. Despite…
It's Friday desk clearing time for this blogger. "Experts say there could be a foreclosure wave next year as companies go out of business 'and those jobs don’t come back,' said Chad Van Horn, a Fort Lauderdale-based bankruptcy attorney. 'I…