News

Landmark Links June 22nd – Under Siege

Lead Story…  Regular readers of this blog know that I have been bearish on the mortgage industry with mortgage rates rising and tax incentives vanishing.  The problem is that today’s mortgage lenders are built for growth and staffed accordingly.  Rising rates and fewer tax incentives led to a substantial slowdown in the refinance market, cutting […]

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Landmark Links June 19th – Misplaced Priorities

Lead Story…  Nearly everyone from older generations gives Millennials crap, sometimes rightly deserved and sometimes not.  In fact, it’s virtually a right of passage for older generations to dump on younger ones for not having the same perceived drive, ambition, etc that they did.  Due to their massive numbers and unique position of being the […]

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Landmark Links June 15th – Size Matters

Lead Story… The Census Bureau released it’s Characteristics of New Housing report last week.  My biggest takeaway from the report was how much the gap between for sale and rental housing construction has narrowed in recent years – most of this has come from the massive decline in for-sale housing construction but multi-family completions are […]

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Landmark Links June 12th – Shut Out

  Lead Story…. Last week, the San Jose Mercury News ran a story by Marisa Kendal with the shocking title: Nearly half of Bay Area residents say they want to leave.  Of course, the primary cause was the astronomical cost of housing, because that seems to be the cause of angst that most Californians entertaining a move […]

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Landmark Links June 8th – Long in the Tooth

  Lead Story….  One of the most tiresome and overplayed tropes in the real estate industry is the baseball analogy.  Anyone who has ever attended a commercial or residential real estate conference has heard some version of the “what inning of the cycle are we in?” question posed to panel members who inevitably roll their […]

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Landmark Links June 5th – Asking for Trouble

  Lead Story….  Since 1977, the Federal Reserve has operated under a mandate from Congress to “promote effectively the goals of maximum employment, stable prices, and moderate long term interest rates.”  In recent years, the idea of the Fed targeting asset prices as well has been hotly debated in economic circles.  In a recent research paper circulated […]

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Landmark Links June 1st – Fish Out of Water

  Lead Story… Curbed ran a provocative blog post this week, posing the question “Can tech outsmart the housing shortage?”  Author Patric Sisson rightly pointed out that tech was by and large late to the real estate space but has been making headway with ventures ranging from WeWork to Fifth Wall Ventures to AirBnb.  The […]

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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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