After many industries saw productivity remain stable with employees working from home, organizations across the country are evaluating their office real estate needs. The U.S. government, the largest office tenant in the United States, is no different, and having the largest checkbook in the world affords it the ability to dictate how business is ... READ MORE >
The distressed real estate market that hasn’t materialized
Soon after the pandemic took hold last March and economic shutdowns ensued, real estate investors began gearing up for opportunities around distressed assets. Success stories of acquisitions following the Great Recession of 2008 were abundant, fueling expectations for a repeat. Now, a year into the pandemic-induced recession, property values have not only ... READ MORE >
Traditional retail’s loss has been industrial’s gain
The holiday season is upon us and like most everything that has happened in 2020, it will bring unprecedented experiences due to the pandemic. Most people associate the holidays with buying presents for friends and family and getting together to share each other’s company. But with the coronavirus still raging, these time-worn practices may not be possible. ... READ MORE >
CHART OF THE DAY: Vaccine at the top of holiday wish list for senior housing
A coronavirus vaccine is on the verge of broad distribution, and it cannot come soon enough for the operators of facilities that house the nation’s elderly. Senior housing of all kinds – including independent and assisted living facilities, as well as those that offer skilled nursing – have been hit hard by the pandemic, both in human and economic terms. ... READ MORE >
CHART OF THE DAY: Home builder optimism reaches record high
Many industries are still recuperating from the impact of the pandemic, but housing has been fortunate to experience a V-shaped recovery. Not only has the Housing Market Index from the National Association of Home Builders recovered to pre-pandemic levels, it has now matched December 1998 for an all-time high in the index’s 35-year history. All three index ... READ MORE >
12.3 million rental units at risk when federal eviction moratorium ends Friday
Local courts should be prepared for an influx of filings as the federal eviction moratorium under the CARES Act officially expires on Friday. In late March, the national stimulus legislation put in place a moratorium of 120 days on specific types of properties, including those with federally backed mortgage loans. According to the Urban Institute, over ... READ MORE >
Housing remains a leader in the economic recovery
Housing continues to be a bright spot in the economy, with housing starts jumping 17.3% in June and housing permits rising 2.1% -- the second straight month of gains following the economic shutdowns of March and April. While the June housing data, released by the Commerce Department on Friday, may have been short of market estimates, the growth in ... READ MORE >
A bright spot amid the economic wreckage of coronavirus: apartment rental payments
While many businesses remain closed and the country experiences record levels of unemployment, apartment owners can take some solace that tenants are still making their rent payments. On Friday, the National Multifamily Housing Council released its Rent Payment Tracker, and reported that 80.2% of apartment households made a full or partial rent payment as ... READ MORE >
For real estate companies, the new Paycheck Protection Program funding is not a cure-all
It took about two weeks for the $349 billion Paycheck Protection Program, a federal aid package aimed at shoring up small and medium-size businesses, to run out of money after it was launched on April 3. Now, the Senate has approved another $310 billion for the program. The new round of financing is part of a broader $484 billion package passed on ... READ MORE >
How the real estate sector can weather an economy that has all but ground to a halt
In the real estate industry, the first of the month holds a certain significance – after all, it’s when rent payments are due. But this April 1 is quite different, coming amid the steep economic downturn caused by the coronavirus pandemic. Landlords are girding for the very real prospect that the $81 billion owed to them in rent payments, according to ... READ MORE >