Dreams Are High, It Will Sit On The Market, And They Come To The Realization They’ve Got No Offers Or Significantly Lowballed Offers
A report from the Wall Street Journal. "Some of the most conservative real-estate funds are suffering from falling property values, putting their fund managers in a tough spot as investors look to cash out. Now that the pandemic has caused…
The Real-Estate Market Is Awashed With Supply
A report from the Commercial Observer. "New York is going to need a long time to recover from 2020. Exhibit 1: Givenchy and its parent company LVMH just paid a whopping $24.5 million to not finish their leaseat Jeff Sutton’s…
They’re Getting So Desperate, They’re Starting To Offer Huge Incentives To Entice Buyers To Make Offers
A report from CNBC. "'Everybody I know is leaving,' said Michael Kronenberg, who owns a downtown Manhattan apartment. 'It’s not just New Yorkers. My partners, long-time clients and investors of mine that live in Connecticut or New Jersey, they are…
Cash Is King Because Nobody Can Deny You
A weekend topic starting with the Wall Street Journal. "Detroit is making a comeback after years of decline that led to a bankruptcy filing in 2013. But large swaths of the city are left behind, starved of the housing credit…
Real Estate Became So Crazily Inflated That This Is The New Reality
It's Friday desk clearing time for this blogger. "A wave of foreclosures is likely coming that will hit low-income homeowners. As of August, over 10% of the eight million single-family mortgages backed by the Federal Housing Administration were delinquent by…
There Was A Feeling Of Déjà Vu
A report from Forbes on New York. "'This certainly doesn’t look good,' Victor Rodriguez tells me. Rodriguez is Director of Market Analysts for real estate intelligence firm CoStar Group. 'The problem for New York City’s office and residential markets is…
If One Person Drops Their Price, It’s Kind Of A Race To The Bottom
A report from CTV News in Canada. "A Canadian website with about 9,000 residential rental listing in Toronto said the pandemic has created an unprecedented market for renters, with many landlords offering tenants major incentives. One listing on the website…
Inventory Has Been Growing Faster Than Sales, And Price Reductions Have Hit Very High Numbers
A report from the Los Angeles Times in California. "If you’re falling behind on rent, don’t just wait for consequences. Your landlord may be open to negotiation. 'Residents shouldn’t hesitate to reach out to their housing provider,' agreed Fred Sutton,…
Saddled With Securities That Are Akin To Museum Pieces That No One Is Interested In Buying
A report from the Sun Sentinel. "The housing market in South Florida has been booming for much of 2020 — sparked by low interest rates, high demand and low inventory — but real estate experts say they consider the trend…