The value of building permits in Canada grew to CA$10.14 billion in September, an 8.2% increase compared to August, driven by the increasing value of multi-family residential permits, according to data released by Statistics Canada on Tuesday. That growth marks a reversal from the drop in residential ... READ MORE >
Real estate
iBuyers, offering convenience at a price, disrupt home sale market
Consumers have long been frustrated by the difficulty and uncertainty that go with buying and selling a home. Whether it’s the balancing act of properly timing a home sale and a purchase, making even small repairs in advance of a sale, or simply raising the cash for a down payment, the process only ... READ MORE >
Existing home sales rebounded in September to highest level since February
Sales of existing homes bounced back in September, with 6.29 million units sold, the highest level since February, and up 7% compared to the prior month, according to a report released on Thursday from the National Association of Realtors. The sales number was an upside surprise to earlier estimates of ... READ MORE >
Lessons from the American Dream mega-mall
What happens when a real estate investor does not look at changing consumer preferences when undertaking a new project? More often than not, it ends in disappointment, and lost money. One project that is heading down this path is New Jersey’s American Dream mega-mall. The unfinished property, which ... READ MORE >
Chart of the day: Sales of existing homes drop amid high prices
Existing home sales in August inched down by 2.0% to 5.88 million, following an upwardly revised 6.00 million in July, according to a report released Wednesday by the National Association of Realtors. The new data continued to point to signs of deceleration in the housing market, but it is still a ... READ MORE >
What the U.S. government’s openness to remote work means for contractors and real estate
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 ... READ MORE >
Rising rental market is tied to limited supply, not affordability
Higher home prices in the United States are not fueling the rental market, despite media reports to the contrary. Instead, would-be buyers are seeking rentals due to the limited supply of homes for sale in what is expected to remain a hot market throughout the remainder of this year. The primary driver ... 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 ... READ MORE >
C-PACE: Government push toward greener buildings may fuel financing demand
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 ... READ MORE >
Hanging on: Five ways that hotels can survive the pandemic economy
(This is the last of three articles examining how the pandemic is affecting the hospitality industry. Read the first and second.) Even the most basic financial strategist knows that there are two ways to improve a company’s bottom line — cut costs or drive revenues. In a time of Depression-like ... READ MORE >