Real estate businesses looking to move forward with their strategic plans during the downturn while preserving equity may just have another tool in their tool belt: Commercial Property Assessed Clean Energy programs, or C-PACE. C-PACE, a public-private financing option, allows commercial property owners to obtain low-cost, long-term financing for capital expenditures that impact energy and water performance of commercial and multi-family real estate. … READ MORE >
Laura Dietzel
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 in Illinois. … READ MORE >
FHA mortgage delinquencies show some homeowners in trouble
Federal Housing Administration mortgage delinquencies hit an all-time, four-decade high, according to data released on Monday, a sign that disadvantaged homebuyers are clearly struggling in the pandemic-impacted economy.
The share of FHA mortgage delinquencies rose to almost 16%, in the second quarter, the highest level since 1979, as reported by the Mortgage Bankers Association. The delinquency rate for conventional loans, by comparison, sits at 6.7%. … READ MORE >
Miles away: U.S. airports face heavy lift and slow recovery
The COVID-19 pandemic and resulting shelter-in-place protocols have devastated the airline industry. Along with it, airports across the country, rife with retail, have suffered significant losses.
As cancellations of business trips and vacations mounted beginning with the onset of the outbreak in mid-March, traffic from travelers plummeted. The Transportation Safety Administration reported that throughput fell to approximately 100,000 people per day by the first week of April, down from almost 2.2 million daily a month earlier. … READ MORE >
Americans face housing affordability crisis as paltry inventory sends costs higher
The decline in housing numbers reported for December on Wednesday is tied to the dwindling available supply of housing for purchase. While low unemployment and modest wage growth are driving strong demand, housing inventory is lacking. … READ MORE >
Real estate investors hope for the best, prepare for the worst—KAYO conference
“Economic cycles and real estate cycles don’t die of old age,” writes Laura Dietzel, RSM senior real estate analyst. “Most of the top industry investors, executives and advisors at the (Kayo) conference agreed that the industry currently finds itself in a mature part of the cycle, as property values throughout the country and across asset classes remain richly priced.” … READ MORE >