News Alerts, Sept. 9, 2013, Morning Edition, 4 New Articles, Real Estate +, Don’t Miss Them

Linking ≠ endorsement. Enjoy and share:

  1. Richmond, CA, bailing out HELOC abusers for profit » OC Housing News News Alerts, Sept. 9, 2013, Morning Edition, 4 New Articles, Real Estate +, Don't Miss Them

    This is a rather amazing post. There’s no fear in it about going after either the banks or those who were extremely reckless in their per-crash-home-borrowing habits. Just read this first paragraph, and then continue on to the post via the link provided.

    I recently wrote about Richmond, CA, moving to seize mortgages through eminent domain. If this plan were to succeed, it would break the banks. Other municipalities would almost certainly follow suit, and the losses would devastate the banking system, probably requiring the nationalization of our major banks (something we should have done in 2008).

    As a reminder, linking is not necessarily endorsement.

    We agree that there are demerits on both sides of this issue, but there are also merits. How do you feel about it?

    Read the source article …

  2. Rent increases here lead the nation, study finds | Business & Technology | The Seattle Times

    Seattle area’s average rent hike of 6 percent a year is among the highest anywhere, reports agree.

    By Sanjay Bhatt

    Seattle Times business reporter

    It’s no wonder developers are completing more apartments in the region this year than during any year in the past 20. Strong job growth has fueled record demand for apartments, pushing vacancy rates down to very low levels.

    “It’s all about the jobs,” said Kenny Dudunakis, senior partner at Hendricks-Berkadia, one of the nation’s largest apartment-investment advisers.

    Read the source article …

  3. Are we Overbuilding Multifamily? – Multifamily Blogs Are we Overbuilding Multifamily? - Multifamily Blogs

    Mark Obrinsky of the National Multifamily Housing Council (NMHC), also doesn’t believe we are overbuilding multifamily. “The rebound in the single-family home market doesn’t mean that the multifamily market is overbuilt, Obrinsky said.

    The construction rate remains below the demand for new apartments — even in the midst of the somewhat unimpressive economic recovery. “Demand requirements outpace the supply pipeline,” said Jubeen Vaghefi, international director and leader of Jones Lang LaSalle’s Multifamily Capital Markets. “This year, expected deliveries of new product will be 12 percent below historical average delivery levels.”

    According to Apartment Finance Today’s annual CFO Survey of 100 multifamily finance professionals, markets most at risk for overbuilding include D.C. and Seattle, where 15 percent and 10 percent of the CFO respondents, respectively, indicated as their belief as areas most at risk for being overbuilt.

    The rental culture is changing and not just in real estate. Younger generations are embracing renting. They rent rather than own movies through streaming, they share bikes instead of buying their own (Philadelphia and New York as examples of this growing trend), and they even share cars rather than bearing the cost and responsibility o f car ownership (Zipcar is an example).

    Read the source article …

  4. Op-ed: Misconceptions About Fed’s Bond Buying

    This is an especially good article on misconceptions regarding the Fed’s Quantitative Easing (QE) program.

    To combat the recession that began in 2007, the Federal Reserve and some other central banks have been buying large amounts of long-term bonds. The novelty of this quantitative easing (QE) makes the policy especially prone to popular misconceptions.

    The article goes on to address 6 common misconceptions.

    It will be the lifting or tapering of QE that will be tricky. They need to be extra careful to ease out to not over shoot.

    Read the source article …