Appraisal Institute News

Jul 29, 2020 12:30 PM

Economic Recovery Ending, Another Slowdown Expected: JLL

The U.S. economy expanded in May and June, but by some measures it already is slowing down, according to data released July 20 by real estate firm JLL. Advance retail sales rose 7.5% between May and June, and industrial production jumped 5.4% during the same period, but consumer sentiment declined in July over fears of increasing COVID-19 cases.

Jul 29, 2020 12:30 PM

Office Net Absorption in Q2 Sees Largest Decline in 11 Years: Cushman & Wakefield

Office net absorption during the second quarter turned negative, falling from 5.2 million square feet during the first quarter to negative 22.8 million square feet during the second quarter, real estate firm Cushman & Wakefield reported July 23 in its U.S. Office MarketBeat report. The report noted that it was the largest quarterly decline since the Great Recession.

Jul 21, 2020 12:30 PM

AI Urges Swift Passage of Appraisal Portal Legislation

The Appraisal Institute on July 9 sent a letter to Reps. David Kustoff, R-Tenn., and Ed Perlmutter, D-Colo., urging swift passage of HR 7688, the Portal for Appraisal Licensing Act of 2020. The legislation would amend the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 to establish a portal for appraisal credentialing and appraisal management company registration information.

Jul 21, 2020 12:30 PM

Federal Reserve Expects Recession Despite Initial Optimism

Following initial optimism that the COVID-19 slump would be over after the second quarter, Fed policymakers are now preparing for a longer recession due to high unemployment and increased risk of corporate bankruptcies, Forbes reported July 14. A greater chance for a second wave of infections also is contributing to the Fed’s new stance.

Jul 21, 2020 12:30 PM

Big Banks Have Set Aside $28 Billion to Cover Pandemic-related Losses, Data Shows

JPMorgan Chase, Citigroup and Wells Fargo have so far collectively set aside $28 billion to cover an expected wave of consumer and business loan defaults, Morningstar reported July 15. The banks increased the amount they had previously set aside due to growing concerns about the length and severity of the coronavirus pandemic.

Jul 14, 2020 12:30 PM

Net Lease Cap Rates Vary During Q2: The Boulder Group

Net lease cap rates increased for the retail sector during the second quarter, but held steady for the office sector and dropped for the industrial sector, according to commercial real estate firm The Boulder Group, MBA NewsLink reported July 2. The firm reported that higher cap rates are anticipated in most sectors by the end of the year.

Jul 14, 2020 12:30 PM

Legislation Extends Paycheck Protection Program Deadline

President Trump on July 4 signed legislation extending the deadline to Aug. 8 for small businesses to apply for assistance from the Paycheck Protection Program, National Public Radio reported. The fund has $130 billion remaining after $520 billion in loans was provided to nearly five million businesses.

Jul 14, 2020 12:30 PM

Expert Says "Exodus" of Central Business Districts to Continue, But Rebound Expected

The residential “exodus” from city centers, led by millennials, is expected to last 18-24 months, the president and CEO of real estate advisory firm Marcus & Millichap told CNBC July 7. The demand for commercial space in the suburbs has also increased, but central business districts appear to be on a three-year recovery track.

Jul 08, 2020 12:30 PM

Data Confirms Q2 CRE Downturn Due to Coronavirus

Commercial real estate executives confirmed a downturn in market conditions during the second quarter because of COVID-19-related job losses and business shutdowns, according to The Real Estate Roundtable’s 2020 Q2 Economic Sentiment Index released June 30. The index showed an expectation that the market will improve by next year, dependent on jobs and business data.

COVID-19, Economy Top Real Estate Concerns: Report

The COVID-19 pandemic, economic renewal and capital market risk are among the biggest concerns affecting the real estate industry through next year, according to the Counselors of Real Estate, which released its list of the top 10 issues on June 25. Also on the list: public and private debt and affordable housing.

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AI News

Economic Recovery Ending, Another Slowdown Expected: JLL

Office Net Absorption in Q2 Sees Largest Decline in 11 Years: Cushman & Wakefield

AI Urges Swift Passage of Appraisal Portal Legislation

Federal Reserve Expects Recession Despite Initial Optimism

Big Banks Have Set Aside $28 Billion to Cover Pandemic-related Losses, Data Shows

Net Lease Cap Rates Vary During Q2: The Boulder Group

Legislation Extends Paycheck Protection Program Deadline

Expert Says "Exodus" of Central Business Districts to Continue, But Rebound Expected

Data Confirms Q2 CRE Downturn Due to Coronavirus

COVID-19, Economy Top Real Estate Concerns: Report