News

Landmark Links April 30th – Risk On

Must Read: In a continuation of the trend of cash-hemorrhaging billion dollar companies going private – not to mention a great bit of news for short sellers, the We Companies (formerly WeWork) has filed confidentially for IPO.  Lyft shares rallied on the news as it offered proof that there is even more dumb money in […]

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Landmark Links April 26th -Tilting the Scale

Must Read: Investment in real estate tech companies is up 607% year over year – from 1.6B in Q1 2018 to $9.9B in Q1 2019.  However, that number gets substantially lower – albeit still impressive – if the $6B that WeWork raised from Softbank is excluded. Economy Big Tent: Everybody seems to identify as middle class […]

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Landmark Links April 23rd – Rekt

Must Read: An effort to sell a first-of-its-kind tokenized ownership in a South Carolina student housing complex fell through because the lender couldn’t get comfortable with the ownership structure and nixed the deal.  Reminder: when it comes to real estate, simple is better. Economy  Juggernaut: Despite high costs, regulatory burden and taxes, California is still the […]

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Landmark Links April 19th – Party House

Must Read Wealthy real estate investors are renting their empty Vancouver mansions to college kids for almost nothing in an effort to avoid a new 3% tax on empty homes.  See Also: Here are the taxes that sent Vancouver’s once white-hot luxury housing market reeling. Economy Core Competency: With energy prices surging and some pundits calling […]

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Landmark Links April 16th – The Heist

Must Read: How New York drew up a gerrymandered district of census tracts that would make a Congressman blush in order to allow Hudson Yards developer The Related Companies to qualify for billions in EB-5 financing that was supposed to be deployed in distressed areas. Economy Sloping Downward: Demographic decline – while less severe here than […]

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Landmark Links April 12th – Flip or Flop?

Must Read:  Home flips are approaching bubble peaks, at least in terms of the percentage of total sales that they make up.  However, data from Corelogic suggests that profit margins are substantially larger and that today’s flippers typically add value by renovating homes as opposed to just purchasing units and waiting for market appreciation.  This comparison […]

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Landmark Links April 9th – Coming For You

Must Read: Fresh off settling with HUD over discrimination charges in the way that it allowed advertisers to target audiences, Facebook is taking aim at the housing industry by building a massive consumer real estate portal. Economy Rebound: US jobs grew by 196k in March as hiring bounced back and the unemployment rate held steady […]

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Landmark Links April 5th – Lifeline

Must Read: It hasn’t been much of a secret that mortgage lenders have been struggling of late.  However, according to mortgage data and analytics company Black Knight, approximately 4.9 million US borrowers could likely qualify for a refinance and reduce their interest rate by at least three-quarters of a percentage point, thanks to the recent decline […]

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Landmark Links April 2nd – Nudge

Must Read: The 30 year mortgage is back below 4%, after topping out near 5% late in 2018.  Look for this nearly-20% decrease to provide a tailwind to the languishing housing market.  See Also: Homebuilder stocks are near 7-month highs. And: Falling rates coupled with more inventory could lead to a buyer’s market. Economy Dismal Science: Economists […]

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