INSIGHTS
Wind in the Willows
Mortgage Rates And a Little Sympathy
The current average rate on a 30-year mortgage is 7.48%. That number is the highest it’s been since November of 2000.
New York is Gonna Force It
New York is a unique place, there is no doubt that multifamily and office are more integrated in that city than nearly any other.
Like an Old Neighbor, State Farm Won’t Be There
Like an Old Neighbor. In a move that felt like an inevitability, insurance companies are beginning to rationalize where and how they do business.
California’s Self-Inflicted Wounds
Last month Los Angeles’ so called Mansion Tax went into effect. This tax, supported by 57% of voters was intended to help the city’s problem with homelessness. Instead, this tax is likely to crush sales of properties worth over $5M, and devastate transactions in properties over $10M. While this transfer of wealth is called the Mansion Tax, the name is a complete misstatement of what the tax actually is.
Believe it if You Need it, or Leave it if You Dare – Rural Places Need More Workers
Rural Places Need More Workers. Every couple of years the government finds ways to commit more to investing in infrastructure
New Supply in Multifamily – Fate (and maybe the Fed) Will Decide the Rest
investors paid high prices for Multifamily properties assuming significant rent growth and committed to build significant new supply.