News

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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Landmark Links March 29th – Mismatch

Must Read: Private real estate investors are sitting on record amounts of cash and finding it difficult to place it in deals that meet their return criteria  within the deadlines they promised investors.  These funds will be stuck either asking for additional time to place the capital or will be forced to return it.  This is […]

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Landmark Links March 26th – Jumbo Headache

Must Read: After the Great Recession, many banks focused on jumbo mortgages – loans too large to be bought by Freddie and Fannie.  However, a combination of unfavorable tax policy, higher mortgage rates and slowing price gains and a generally-softening high end market are leading to dropping origination volumes and headwinds to the bottom line. Economy […]

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Landmark Links March 19th – Selfies Stick

Must Read: Real estate developers and architects are embracing social media in general and Instagram in particular as a way to draw attention to their projects.  As a result, new projects are now being constructed with Instagram-worthy features. Economy No Margin of Safety: A new survey found that 20% of Americans don’t have any savings whatsoever. […]

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Landmark Links March 15th – Opportunity Knocks

Must Read: Develop, LLC and Esri have put together an analytics map that assesses and ranks nearly 8,000 opportunity zones across the US based upon metrics like population growth rate, median household income, retail sales, median home value, bachelor’s degree rate and unemployment rate.  It also overlays hospitals and universities.  I spent a while going through […]

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Landmark Links March 12th – A Song of Ice on Fire?

Lead Storey: The growth of online grocery delivery coupled with grocers moving towards high tech cold storage distribution systems could be pointing to cold storage, which currently has only 180MM sf of inventory in the entire US, being the next hot new property segment for industrial investors. If you take a step back, this makes a […]

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