By Grant Welker It’s not just inflation, and it’s not just a matter of perception: the cost of buying a home in Boston has far surpassed the increase in wages in the past 50 years, according to a new analysis. In Boston, a typical wage in 1970 was $9,133, according to a report this spring by […]
By Erik Sherman According to Newmark, there is now a $2 trillion maturity wall of CRE loans facing banks over the next three years. A dizzying sum. “Banks will be under pressure,” CEO Barry Gosin told the Financial Times. As the FT noted, the brokerage handled $50 billion of loan sales for the Federal Deposit Insurance Corporation after […]
By Grant Welker There isn’t enough new housing being built in the Boston area to suddenly make the region affordable. But builders are finding places to build — mainly in former industrial pockets in such places as Everett and South Boston, as well as relatively less-dense neighborhoods in Allston and Quincy. Residential developments now under construction […]
By Charlie Breitrose Developers heard from dozens of residents who showed up Monday night for an in-person community meeting about the project proposed for the former Cannistraro site, pro and against. Many with concerns lived in the residential neighborhood across the street, who fear they will be negatively impacted by the size of, and noise and […]
By Jack Rogers The wide bid-ask gap during the first half of 2023—as CRE transaction volumes plunged in the steepest cliff dive since the Great Recession—appears to have narrowed in the third quarter. According to Steve Jacobs, CEO of online auction leader Ten-X, the “flex”—the difference between a seller’s initial asking price and a price […]
By Richard Berger Operational costs for apartment companies grew by 8.6 percent on average year-over-year in the second quarter of 2023, according to a new report from Marcus & Millichap. Effective rents rose at nearly twice the pace of expenses during the yearlong period ending in June 2022, but those trends inverted over the following […]
By Richard Berger The lack of affordable insurance options for property owners of all types increasingly puts needed insurance coverage out of reach and limits the ability of property owners to make needed investments in their properties. As a result, this stressed insurance market, stubborn inflationary pressures, and rising interest rates have disrupted transactions and […]
Yardi Matrix expects distress to increase. By Paul Bergeron | February 21, 2023 at 08:22 AM It’s a bit of same ol’, same ol’ for now in multifamily deal-making two months into 2023 – not a whole lot. “Buyers are cautious, facing higher financing costs and downgraded projections of future rent growth,” writes, Paul Fiorilla, director of research, […]
January 26, 2023 Jarred Schenke, Bisnow Atlanta Amazon has tapped a Harvard-educated designer with experience in drafting municipal land use policies as its new vice president of worldwide corporate real estate and facilities. Amazon named Shannon Loew to the position previously held by John Schoettler, who will remain with the company, the Austin Business Journal reported. Loew’s hiring comes as […]
By Will Parker Follow and Konrad Putzier Follow Updated Jan. 17, 2023 3:03 pm ET The cost of insuring commercial real-estate loans against a rise in interest rates has exploded over the past year, raising the prospect of a market selloff since many property owners will no longer be able to afford these hedges. About one-third of […]
