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 >
Real Estate
Real estate and the middle market go hand in hand. Developers in commercial, residential and industrial markets provide the economic fuel to transform local economies, building infrastructure that leads to new business and job creation.
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 revenues decline. Chicago has been hampered by the ... 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, respectively, driven by homeowners refinancing existing ... 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’ reluctance to sell, has depleted inventory, which ... READ MORE >
CHART OF THE DAY: Homebuilder confidence reaches all-time high
Confidence among homebuilders reached an all-time high in November as buyers looking for more room to live and work continued to enter the market, according to the National Association of Homebuilders Housing Market Index released on Wednesday. The index, which rose to 90, is a composite measurement of future sales, present sales and buyer traffic -- all ... READ MORE >
CHART OF THE DAY: New home sales cool as inventory remains limited
New single-family home sales dropped 3.5% from August to September as the robust market began to cool heading into the fall months, the Commerce Department reported on Monday. The decline was expected after the heightened pace of sales over the summer, with many urban renters fleeing to the suburban market and existing home inventory at record lows. Even ... READ MORE >
CHART OF THE DAY: Anticipation of pandemic demand for single-family homes
Even as millions of workers struggle amid the pandemic-induced downturn, certain sectors of the economy have emerged as beneficiaries from changing consumer behavior. Chief among these have been those companies that provide suburban housing to city dwellers looking for more room to live and work. In September, housing starts rose by 1.9% to a seasonally ... READ MORE >
There is no cooling the housing market as homebuilder confidence surges
The U.S. homebuilder confidence index continues to reach new heights, rising to 85 in October, according to data from the National Association of Home Builders released on Monday. The reading was stronger than the median forecast of 83, marking the sixth straight month that the index has exceeded the consensus estimate. All three components of the ... READ MORE >
CHART OF THE DAY: New home sales continue to surge
Sales of new homes have continued to reach new heights, increasing by 4.8% to a seasonally adjusted rate of a little more than 1 million for August – the first time new home sales had eclipsed that mark since 2006. Compared to the same period a year earlier, sales surged 43.2%, according to data released from the U.S. Census Bureau on ... READ MORE >
CHART OF THE DAY: As housing market heats up, inventory shrivels
Existing home sales in August topped 6 million for the first time since 2006 as big-city renters continued to flock to the suburbs for more space, including a home office and a yard to accommodate their new normal. Meanwhile, existing homeowners are hesitant to put their houses on the market, given uncertainty around the coronavirus pandemic and fears ... READ MORE >