(This is the first of three articles examining how the pandemic is affecting the hospitality industry.) If there was any sign of the hospitality industry’s rapid change amid the continuing fallout from the coronavirus pandemic, look no further than the recent debut of home rental portal Airbnb in the ... READ MORE >
Real estate
CHART OF THE DAY: New home sales bounce back
New home sales bounced back to 842,000 in December, representing a 1.8% increase over the previous month, the Commerce Department reported on Thursday. The 11% month-over-month decline in November was a jarring halt to the red-hot housing market that had new home sales in excess of 949,000 from July ... READ MORE >
CHART OF THE DAY: Housing activity continues to surge
Home builders remain active as the housing market closed out last year in a strong fashion. Housing starts rose by 5.8% to an annualized rate of 1.67 million in December, ending the year as one of the strongest in a decade, the Commerce Department reported on Thursday. And housing permits, an indicator of ... READ MORE >
CHART OF THE DAY: Residential construction spending remains robust
Residential spending has been rising since February of 2019, increasing by nearly 18% on a year-over-year basis in November. These strong numbers helped to lift construction spending by 0.9% overall in November, according to data released this week by the Commerce Department. The demand for housing was ... 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 ... READ MORE >
CHART OF THE DAY: Homes for the holidays
Oh, there’s no place like home for the holidays. So begins the holiday standard made famous by Perry Como. Composed in the 1950s by Robert Allen with lyrics by Al Stillman, the song seems fitting these days as Americans are lured to the suburbs, just as they were when Mr. C. was in his prime. Only this ... 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 ... READ MORE >
Death and taxes are the only certainties in a volatile Chicago office market
The Chicago real estate investment community is bracing for a rough winter as both commercial and residential owners prepare for property tax hikes as COVID-19 continues to present a significant threat. Compelled by what Chicago Mayor Lori Lightfoot characterized as a “the hikes come as the city’s tax ... READ MORE >
CHART OF THE DAY: Booming mortgage originations
After a slow first quarter, mortgage originations in the United States are surging as homeowners capitalize on historically low interest rates, with the totals approaching levels not seen since 2003. Mortgage originations totaled $962 billion and $928 billion in the second and third quarters, ... READ MORE >
CHART OF THE DAY: Existing home sales climb, further depleting inventory
Existing home sales increased to a seasonally adjusted annual rate of 6.85 million in October, representing a 4.3% increase month over month and the highest level since February 2006, according to data released Thursday by the National Association of Realtors. This increase, combined with homeowners’ ... READ MORE >