News

Landmark Links March 30th – It’s a Sign

  Lead Story…  The past couple of years have been challenging ones for commercial REITs.  Considered the performance darlings of the US equity markets just a few years ago, the sector has been taking it on the chin as the one-two punch of rising interest rates and bottoming out cap rates take their toll on […]

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Housing Stratification: Fewer Starter Homes, More Premium Homes

The bubble of the mid 2000s represented a major turning point for the US housing market. The entry level segment of the market experienced far more distress than other higher priced segments and was riddled with underwater borrowers and foreclosures. The initial market response was a plunge in pricing that drove ownership costs well below […]

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Landmark Links March 27th – Headed in the Wrong Direction

  Lead Story….  One topic that I’ve written about from time to time since starting this blog is the growing stratification in the US housing market between entry level and premium housing stock.  The bubble of the mid 2000s represented a major turning point for the US housing market.  The entry level segment of the […]

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Landmark Links March 23rd – No Easy Way Out

  Lead Story…. It’s no secret that the last few years have been brutal ones for retail landlords and tenants.  The American economy is still driven by consumer spending but overbuilding, loss of share to e-commerce and ill-conceived leveraged buyouts that saddled retailers with debt have brought the industry to it’s knees.  Worst of all, this […]

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Landmark Links March 20th – Chop Shop

  Lead Story….  Imagine that you run a commercial real estate fund and made some very prudent investments back when the world appeared to be falling apart in 2009-2010.  You bought trophy buildings when there was blood in the streets and are now sitting on hundreds of millions of gains on some assets, if not […]

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Landmark Links March 16th – Unexpected Outcomes

  Lead Story….  Between a hectic stretch at work and an under-the-weather 3 year old, I didn’t have much time to blog this week.  However, I read a Wall Street Journal article by Greg Ip about the 10-year anniversary of the Bear Stearns bailout and found this section about increasing risk in the global financial […]

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Landmark Links March 13th – Crazy Train

  Lead Story…  It’s becoming increasingly obvious that the California “bullet train” is as big of a boondoggle as pretty much every sentient being thought it would be.  The state rail authority released it’s latest business plan last week and surprise, surprise the price tag just went way up and the completion date was pushed out […]

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Landmark Links March 9th – Hot Boxed

  Lead Story…. In recent years there have been few segments of the commercial real estate market as hot – or as controversial – as the legalized marijuana space. As landlords, operators and capital sources deal with the growing pains of an already massive industry coming out of the proverbial shadows, they are dealing with […]

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Landmark Links March 6th – Capped

  Lead Story….. Conventional wisdom and basic financial math both dictate that commercial real estate cap rates should rise when interest rates do.  However, we’ve been in a rising interest rate environment for well over a year now yet cap rates are basically flat during that time – with the exception of certain segments of the […]

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Landmark Links March 2nd – Jumping to Conclusions

  Lead Story…. When I started writing this blog post earlier in the week, my initial intent was to focus on a couple of conflicting headlines from recent housing reports.  The first dealt with a seemingly bad January new home sales report from CNBC entitled Rising mortgage rates hit new home sales hard, an ominous sign […]

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