News

2023 CRE Maturity Outlook: The Year Ahead “Cred IQ (credible? no idea, it’s on the internet, close enough) 2023 securitized maturities sliced various ways. My takeaway (unsurprisingly) is that high-level scaries are not relevant or extrapolatable (eg mall exposure who cares, MF/ind worth a lot more, etc). Naturally, ymmv.” To Read the Original Article Click…

US Housing Affordability at Lowest Levels in History Goldman Sachs: “US housing affordability at lowest levels in history.” To Read the Original Article Click Here Subscribe to our regular newsletter and get exclusive access to our next investment opportunity. Recent Posts

Apartments Rents Fall as Crush of New Supply Hits Market “Apartment rents fell in every major metropolitan area in the U.S. over the past six months through January, a trend that is poised to continue as the biggest delivery of new apartments in nearly four decades is slated for this year. Renters with new leases…

Bezo & Musk Become Real Estate Investors “Amazon.com founder Jeff Bezos invested in the innovative real estate startup Arrived Homes in 2021 during its seed round, then doubled down on that investment in the company’s series A round in 2022. The company acquires single-family rentals across the U.S., securitizes them, then allows retail investors to…

Apartment Rents Trending Below Long-Term Average “Here’s another way to view the rapid shift in rent momentum – measuring month-over-month rent change vs. the long-term average (since 2010) for each month. Summary: 2021: Boom 1H 2022: Things are changing 2H 2022 – Early 2023: Cooldown” To Read the Original Article Click Here Subscribe to our…

Real Disposable Personal Income “First time long time: Real disposable personal income growth flips to positive.” To Read the Original Article Click Here Subscribe to our regular newsletter and get exclusive access to our next investment opportunity. Recent Posts

Existing Home Sales Falling Faster Today than During the GFC “The housing market has never frozen this rapidly. Not even leading to 2007-2008. Blackstone, KKR & Co are limiting redemptions from their funds in an attempt to slow the bleeding. Unless mortgage rates come down quick, it’s not looking particularly good for house prices.” -@MacroAlf…

What if the Economy Remains Resilient? “Former Fed economist John Roberts does an exercise on what a lower 2023 unemployment rate projection (of 4.2%, instead of 4.6%) could do to FOMC’s SEP To keep inflation on the current projected path, the terminal real estimate might go up to 5.6%.” https://jrobertsmacroecon.wordpress.com/2023/02/09/what-if-the-economy-remains-resilient/… To Read the Original Article…

CPI Rent of Primary Residence “Finally some deceleration showing up in CPI’s Rent Survey — which has a known 12-month lag from headline/spot rents. Jan’s month-over-month increase was smallest since July, and *should* further cool off in coming months if it continues to trail headline/spot rents….” To Read the Original Article Click Here Subscribe to…

Construction Productivity Steadily Declines “NYT: “Construction productivity has steadily declined over the last 50 years.” The root cause is simple: 1) Too many “stakeholders” with input into a now-broken public permitting process; 2) Regulatory process & ordinances that have spread cancer-like into every step.” To Read the Original Article Click Here Subscribe to our regular…