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May 29, 2019 05:05 PM

Government Agencies to Improve Relationship with Lenders: FHA

Regulatory compliance standards are discouraging lenders from working with various government housing agencies, Brian Montgomery, Federal Housing Administration commissioner, told attendees May 23 at a Mortgage Bankers Association conference, MBA NewsLink reported. Montgomery said the agencies are seeking to create a friendlier environment to encourage more lending.

May 29, 2019 05:03 PM

Survey Shows 47% of Homebuyers Affected by Tax Changes

Tax changes affected the house hunt of 47% of potential homebuyers this year, down from 56% last year when the effects of tax reform were mostly still speculative and not yet realized in paychecks, the online real estate marketplace Redfin reported in a survey released May 16.

May 29, 2019 04:59 PM

Mortgage Industry May Struggle with 'Zombie' LIBOR After Phaseout, Reuters Reports

The nation's mortgage industry probably will still have to deal with a "zombie" version of the London Interbank Offered Rate even after the benchmark is phased out in 2021, Reuters reported May 21. The trade group Alternative Reference Rates Committee has introduced guidelines, backed by the Federal Reserve, for participants to use another reference rate.

May 15, 2019 12:30 PM

GSEs Can End Oversight Without Congress Approval: FHFA

Fannie Mae and Freddie Mac can be freed from government oversight even if Congress doesn’t pass a housing-financial overhaul involving the government-sponsored enterprises, the Federal Housing Finance Agency Director, Mark Calabria, told Bloomberg May 8. He noted that Congress will get at least an entire session to act.

May 15, 2019 12:30 PM

Rural Communities Likely to Continue Declining, Data Shows

Rural areas, which comprise 42 percent of the nation’s counties, suffered significant population and job losses due to the Great Recession and likely won’t recover, leaving their housing and commercial bases to struggle, according to Commerce Department data, CityLab reported May 7. Communities in the Northeast and the Midwest were hardest hit.

May 15, 2019 12:30 PM

US Office Sector Steady During First Quarter, Bodes Well for New Construction: JLL

The U.S. office sector proved resilient during the first quarter, absorbing around 14 million square feet — even after the delivery of 6.8 million square feet of newly constructed space, according to real estate firm JLL, National Real Estate Investor reported May 9. An additional 110.4 million square feet of office space is under construction.

May 08, 2019 12:30 PM

Generation Z May Revive Shopping Malls, ICSC Study Says

Generation Z may save the mall, according to a study from the International Council of Shopping Centers, Bloomberg reported April 25. Gen Z (those aged 7 to 22) prefer shopping in-store rather than online, and about 95% visited a mall during a three-month period in 2018 as opposed to 75% of millennials and only 58% of Generation X.

May 08, 2019 12:30 PM

Rockefeller Center to Add 200 Guest Rooms in Airbnb Deal

Airbnb and real estate firm RXR Realty announced on April 29 a deal to convert 10 stories in New York City’s iconic Rockefeller Plaza to short-term rental units, Bloomberg reported. The project will create 200 suites inside the art deco high-rise, as well as meeting and events spaces, collaborative working spaces, a restaurant and a lobby bar.

May 08, 2019 12:30 PM

Hospitality Properties in the South, West Show Strong Fundamentals: Marcus & Millichap

Hospitality properties in the south and west are outperforming those in other U.S. markets, and attracting investment dollars thanks to growth in revenue per room and occupancy rates, according to real estate firm Marcus & Millichap, National Real Estate Investor reported April 29. Texas is expected to add the most hotel rooms this year.

May 01, 2019 12:30 PM

Retail, Office Net Lease Cap Rates Rise: Boulder Group

Cap rates on net lease retail properties increased 2 basis points in the first quarter to 6.37 percent while cap rates on net lease office assets jumped 8 basis points to 7.1 percent, according to The Boulder Group investment firm, National Real Estate Investor reported April 22.

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