News

Landmark Links May 29th – Relaxed

  Lead Story…. As most of you are probably aware a measure that rolled back some provisions of the Dodd-Frank Act was signed into law last week.  Somewhat buried in the bill was a provision that could have a major impact on commercial real estate development and construction lending: a change to the capital contribution […]

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Landmark Links May 25th – Still Dancing

  Lead Story…. In the dark days of mid-2007, right before the subprime bust and ensuing financial collapse nearly brought down the world economy, former Citigroup CEO Chuck Prince made an interesting statement during an interview with the Financial Times. Prince answered a question about his firms market posture at a risky moment with a quip […]

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Landmark Links May 22nd – No Easy Way Out

  Lead Story…. Mortgage rates are now sitting at the highest that they have been in seven years.  The standard knee-jerk reaction is that this uptick implies that home prices are on the cusp of falling across the board – which would actually be welcome economic news in some markets. However, I suspect that it […]

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Landmark Links May 18th – Playing with Fire

  Lead Story… Generally speaking, cities tend to want to attract large employers as it’s beneficial to both the local economy and the tax base.  Employees spend money at local retail establishments, eat at local restaurants, rent apartments, buy homes and send their children to local schools.  This is why it’s not uncommon to see cities […]

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Landmark Links May 15th – Misfit

  Lead Story…..  Regular readers of this blog know that I fall pretty solidly on the side of supply and demand (inventory) holding more sway over the housing market than interest rates.  Assuming that view is correct – and it has been so far this cycle as rates have been on the rise for quite […]

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Another Stupid California Dream

Sometimes I wonder if too many posts here are spent writing about the California housing affordability crisis – easily my most frequently posted-about topic – but then I consider that the state keeps providing ample ammunition by doing so much stupid crap. The latest in a long list of easily avoidable self-owns took place this week when […]

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Landmark Links May 11th – Self Defeating

  Lead Story…. Some times I wonder if too many posts here are spent writing about the California housing affordability crisis – easily my most frequently posted-about topic – but then I consider that the state keeps providing ample ammunition by doing so much stupid shit.  The latest in a long list of easily avoidable self-owns […]

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Landmark Links May 8th – Caveat Emptor

  Lead Story….  Generally speaking, financial regulations have gotten tighter since the Great Recession.  However, there is at least one notable exception that is causing all sorts of problems: Private Placements. Wikipedia  defines a Private Placement as: Private placement (or non-public offering) is a funding round of securities which are sold not through a public offering, […]

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Landmark Links May 4th – No Margin for Error

  Lead Story….  Sam Zell was his typically blunt self earlier this week when he spoke at the NYU’s Schack Institute of Real Estate’s REIT Symposium.  I found his comments about warehouse and industrial distribution space to be particularly interesting: “My guess is that it’s getting too exciting. We’re building too much industrial space … […]

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