Blog
‘Foong on Finance’ with Keat Foong: 1 for 3
Actions related to the debt ceiling being initiated by President Obama and Congress will establish the spending limits for the HUD budget going forward. President Obama has placed social security and Medicare on the table. He and the Republicans reportedly have plans to curtail social security (which does not contribute to the federal deficit), Medicare and Medicaid, all support programs for the middle class and/or the poor. Will President Obama be known as the Democratic president who succeeded with these radical plans (more than $3 trillion in cuts) to begin to claw back social support programs that even Republican presidents have not had the audacity…
‘Editor’s Notebook’ with Diana Mosher: Crosland Exits Development Scene
During the height of the recession we frequently heard about multifamily companies scaling back or eliminating the development arms of their companies in order to focus on property management activities. These days the top headlines are much more focused on the opportunities associated with the next multifamily development boom. In fact, the entire May issue of MHN Magazine was devoted to this topic. So I was surprised to hear that Charlotte-based developer Crosland has divested its retail, multifamily and residential development arms to focus exclusively on managing its existing assets. But a closer look at the story reported by The…
‘The Accidental Economist’ with Jack Kern: Ordinary People
The people who rent apartments are not objects of study and derision for homebuilders, but instead just ordinary people who need a place to live.
‘On the Ground’ with Eric Brown: Is Anyone Paying Attention to Your Facebook Fan Page Posts?
As marketers know, sometimes airing on the side of being provocative can yield great results. However, that can be a slippery slope, as we found out Saturday morning.
‘Foong on Finance’ with Keat Foong: Apartments Will Yield 11.4% this Year, Say Investment Managers
The Pension Real Estate Association (PREA) surveyed some of their member firms in May regarding their forecasts for the U.S. commercial real estate markets. Respondents predict apartment investments will register a total investment return of 11.4 percent this year. Total apartment investment return (on the NCREIF Property index) is expected to fall in subsequent years, though, to 9.3 percent and 9.2 percent in 2011 and 2012, respectively. The apartment investment returns prediction for this year breaks down to 5.5 percent in income returns, and 5.9 percent in appreciation returns. Sixteen firms participated in the survey this quarter, with the firms…
‘On the Ground’ with Eric Brown: How Are You Treating Your Best Residents and Prospects?
As you nurture and grow your digital footprint, the dynamics change. What you did to attract the fans and followers may not be the best things to do to keep them engaged.
“On the Ground” with Eric Brown: What Will You Do with Your Followers and Fans?
Once you build your following, it becomes an asset that needs ongoing tending; otherwise it dissipates.
‘Foong on Finance’: CMBS Standards Loosen in the CRE World
At CRE Finance Council’s June convention held in New York last week, some financiers were saying that CMBS standards are already slipping, very quickly. More lenders are entering the CMBS space, seemingly bullish about the prospects for a robust volume of lending. That drive for business, however, creates fierce competition among these players. “Unfortunately,” the “race to the bottom” is already upon the market, said one speaker. The players are “nearly repeating the mistakes of the past.” Pricing is being being squeezed again, until the pull backs in the last week. When one lender offers interest-only financing, others feel obliged to follow….
‘Gimme Shelter’ with Daniel Gehman: A Volt from the Blue
A trial run with the Chevy Volt leaves this HOV-oriented consumer considering its benefits against the competition.
‘Foong on Finance’: High Unemployment Levels Depress Housing Market
What recovery? The housing market has, if anything, made fresh turns downwards recently. The homeownership rate has dropped to 66.4 percent, the level in 1998. It seems recovery in the housing market has not come in at least the first half of this year. Meanwhile, a new report from the Joint Center for Housing Studies of Harvard University confirms that new home sales continue near record lows, and existing home sales remain depressed. Vacancies and foreclosures continue to push down housing prices, says the Joint Center. Contrary to assertions about a structural change in people’s desires to own homes, perhaps many…