Home prices in the U.S. fell by 1.1 percent between July and August, according to Full Stack Economics (citing data from the Case-Shiller index). However, significant variations exist at the metropolitan area level. For example, in metropolitan Austin, home prices … Continue reading →
According to the National Association of Real Estate Investment Trusts (Nareit), REITs of all types collectively own more than $4.5 trillion in gross assets across the U.S. and U.S.-listed REITs have an equity market capitalization (stock market value) of more … Continue reading →
In the industrial sector, REITs and institutional investors are replacing smaller, private owners. According to Business Insider (citing data from CBRE), over each of the past 12 years, institutional investors have purchased more warehouse space than they’ve sold, while private … Continue reading →
The average asking rent in Manhattan’s retail corridors was $607/sf in Q3-2022—a 2.2 percent increase from the prior quarter and the first increase since Q4-2016, according to CBRE. The rolling four-quarter aggregate leasing velocity—a measure of total leasing (renewals and … Continue reading →
In recent weeks, UK office occupancy rates were around 30 percent, compared with an estimated pre-pandemic average of 80 percent, according to Reuters (citing data from Remit Consulting). In central London, 2.6 million square feet of space was leased in … Continue reading →
Swedish property companies must roll over $40.8 billion of maturing bond debt over the next five years, a quarter of which falls due in 2023, according to Bloomberg. Floating-rate bonds and near-term maturities render the Swedish real estate market more … Continue reading →
The current Bank of England base interest rate—the rate that largely determines mortgage interest rates—is 2.25 percent. This week, the average interest rates for two and five-year fixed rate mortgages topped six percent for the first time in over a … Continue reading →
In Q3–2022, about 1.34 million more square feet of office space was vacant and placed on the market than were leased, according to the National Association of Realtors (“NAR”). In this weakest of all commercial real estate sectors, the vacancy … Continue reading →
Open and transparent government can benefit Virginia’s people and commerce. An effort is underway (U.S. Sup. Ct. Dkt. No. 22-308) aimed at safeguarding the Virginia Freedom of Information Act (“VFOIA”). According to the Reporters Committee for Freedom of the Press, … Continue reading →
The following is from a Congressional Budget Office (“CBO”) letter dated August 4, 2022: “In calendar year 2022, enacting the bill would have a negligible effect on inflation, in CBO’s assessment. In calendar year 2023, inflation would probably be between … Continue reading →