In 2021, investors bought a record $809 billion worth of commercial real estate, according to Real Capital Analytics, far surpassing 2019’s previous $600-billion record and doubling 2020’s total. Among the best sellers: apartment buildings, raking in $335.3 billion, 128 percent more than in 2020, as landlords kept raising rates in the face of relentless demand;...
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AUSTRIA: IT’S THE LAW. NO JAB, NO FREEDOM
Austria’s parliament on Thursday voted overwhelmingly in favor of the country’s controversial vaccine mandate for all adults, which will be the first of its kind in Europe and will likely pave the way for other countries in the European Union to follow. “This is how we can manage to escape the cycle of opening and...
RENTS ON THE RISE
After asking rents shot up almost 20 percent last year, and will shot up an additional 7 percent in 2022, according to Realtor.com. Nationally, apartment occupancy was 97.1 percent in December, continuing a relentless demand for flats that has enabled landlords to raise rents dramatically over the last year, as we reported in “Rents Soaring:...
SPOTLIGHT: BIGS GETTING BIGGER
PFIZER BUYS ARENA PHARMACEUTICAL FOR $6.7 BILLION Flush with billions in cash from the success of its COVID vaccine, Pfizer Inc. has agreed to pay $6.7 billion to buy drug maker Arena Pharmaceuticals, which specializes in medications for inflammatory bowel conditions. Pfizer will pay $100 a share for Arena, more than twice the company’s 10...
HOME SALES UP AS MONEY GANG GOBBLES UP HOUSES
Sales of previously owned homes edged up 0.8 percent in October to an annual rate of 6.34 million units, the National Association of Realtors (NAR) reported, 5.8 percent below October 2020, which was the market’s cyclical high point last year. If full-year sales top six million, it would be the largest number of existing homes...
SINGLE-FAMILY RENTAL HOMES: INVESTMENT GALORE
The projected risk-adjusted annual rate of return on single-family homes built to rent is about 8 percent, the best investment performance among 18 real estate sectors, according to real estate advisory service Green Street. Soaring home prices and required large cash down payments have squeezed families out of the home-buying market that would have qualified...
SPOTLIGHT: INFLATION SPREADS
AVERAGE AMERICANS CAN’T AFFORD AVERAGE NEW CAR Even though computer chips have been in short supply, car makers had enough on hand to work through the spring and summer and even to make April a particularly strong sales month in the United States Now, those stashes of chips are gone and auto companies can only...
U.S. HOMES: PRICES SPIKE, FEWER CAN AFFORD THEM
In America, once the Land of Opportunity, renowned for its strong middle class, continues its economic divergence as the rich are getting richer and the rest keep getting poorer. It’s in the numbers. With U.S. home prices spiking, they are less affordable to Americans than at any time since the Panic of ’08. Now, the...
SPOTLIGHT: INFLATION SPREADS
FED’S KEY INFLATION GAUGE HITS 30-YEAR HIGH The Core Personal Consumption Expenditures Index, the U.S. Federal Reserve’s preferred measure of inflation, rose to 3.6 percent in August from a year earlier, the U.S. Bureau of Economic Analysis reported, the number’s biggest jump since May 1991. The index excludes the costs of energy and food. The...
RENTS SOARING: WHAT’S NEXT?
U.S. apartment rents jumped an average of 10 percent in August, year over year, after climbing 13 percent from January through July, as we reported last week in “Rents Soar as Investors Buy Properties and Raise Rates” (14 Sep 2021). August’s hike, the first year-on-year double-digit increase in more than two decades, was reported by...