Poland’s overcrowding rate—a measure of whether homes have sufficient rooms for the number of people in the household—is 37 percent, whereas the European Union average is 17.5 percent, according to Reuters (citing Eurostat data). Rising interest rates, limited housing supply … Continue reading →
Higher interest rates, persistent inflation and weak economic growth will contribute to more maturity defaults in 2023, according to Fitch Ratings. Fitch projects its U.S. CMBS loan delinquency rate will increase to between 4.0 percent and 4.5 percent by YE … Continue reading →
Inflation in Morocco is expected to reach 6.6 percent this year, according to Reuters. The Bank Al-Maghrib (“BAM”), Morocco’s central bank, raised its benchmark interest rate today by 50 basis points to 2.5 percent in an effort to control inflation, … Continue reading →
Hyperinflation in Turkey coupled with the central bank’s decision to slash interest rates to nine percent has led to soaring property prices. Domestic demand for real estate has increased as investors seek to shelter their savings from staggering inflation. Additionally, … Continue reading →
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 →
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 →
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 →
As mortgage demand falls, residential real estate companies are reducing their workforce. Redfin is laying off 470 employees and Compass is shedding 450 jobs (10 percent of its workforce), according to MarketWatch. The Federal Open Market Committee (FOMC) voted this … Continue reading →
Retail, office and industrial sector national asking cap rates fell in the first quarter of 2022 from the previous quarter, according to The Boulder Group. Retail cap rates fell by 13 basis points to 5.75 percent, office cap rates fell … Continue reading →