News

Landmark Links October 12th – Running out of Room

  Must Read: A 5% mortgage isn’t high by historical standards but it will certainly feel that way to buyers who have become accustomed to borrowing at rates below 4%.  This is a big part of the reason why home price growth has slowed as have sale transactions, despite still-low inventory levels. This is a recipe […]

Read More

Landmark Links October 9th – The Great Compression

  “You can’t predict. You can prepare.” – Howard Marks Perhaps its difficult to remember now but there was a period between early 2010 and late 2016 when interest rates moved predictably in a downward direction – especially on the long end of the yield curve – every time potentially destabilizing geopolitical or economic event […]

Read More

Landmark Links October 5th – Shaken to the Core

  Must Read: UBS Asset Management is out with a fascinating white paper about how core real estate investment will have to change substantially in today’s disruptive business environment.  Here’s a snapshot: “Consequently real estate assets are likely to become more asset management intensive and core income streams may face increased volatility. On the upside, […]

Read More

Landmark Links October 2nd – Stagnation

  Must Read: I’ve been saying for months now that higher mortgage rates in a declining inventory environment would lead to higher prices and construction stagnation rather than a decline in home values.  Ben Casselman’s story from the NY Times this past weekend does as good a job of explaining how housing is defying textbook […]

Read More