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 ... READ MORE >
Real estate
Hotel occupancy data: It’s only half the story
Hotel occupancy is typically measured by the consistent supply of rooms, and on the surface recent numbers have been looking favorable. Occupancy was up to 49.9% in the week ended Aug. 8, up from 48.9% a week earlier, and 45.9% a month earlier. But given that the pandemic has forced closures of ... READ MORE >
Laying the foundation for construction’s IT future
The construction industry has seen gains in employment since April, despite overall declines in spending, as workers were brought back to complete necessary emergency projects and jobs begun prior to the pandemic. For the month of July, total construction employment increased a modest 0.3% to 7.2 ... READ MORE >
An SOS for commercial real estate
As the length and severity of the coronavirus pandemic continue to wreak havoc on the economy, real estate deals are at best being reworked and at worst falling apart altogether. The data tells a clear story: Transactions are down almost 70% in the second quarter, according to Real Capital ... READ MORE >
School’s out for summer (or forever?)
It seems as if we are living through an alternate version of Alice Cooper’s song. While the COVID-19 pandemic has had a significant impact across real estate sectors, student housing, once a beacon of stability, is now vulnerable as universities rethink their plans for the school year. Universities ... 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 ... READ MORE >
Real estate investors seen as primary funding source for “the caring economy” plan
Democratic presidential candidate Joe Biden on Tuesday unveiled a 10-year, $775-billion plan to support what he deemed “the caring economy,” which is comprised of jobs that provide care for children and the elderly. In order to finance this proposal, Biden is looking to the real estate investment ... READ MORE >
There is no V in housing, but there is in recovery
The strong data for housing starts and permits in June released last week were just the opening act for the V-shaped recovery in housing. Existing home sales increased 4.72 million for June, up 20.7% from the previous month, according to data released on Wednesday by the National Association of ... READ MORE >
Businesses already strained by COVID-19 should prepare for hurricane season
The Atlantic hurricane season is already off to a busy start, with six named storms having formed as of early July. And it is likely to get worse. The National Oceanic and Atmospheric Administration predicts a 70% chance that this hurricane season will be worse than normal, with just a 10% chance of being ... 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 ... READ MORE >