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Search resuls for: "Will Parker"


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Officials near the scene of the shooting on Saturday night. Photo: WCAXA triple shooting that wounded three young men of Palestinian descent in Burlington, Vt., is being investigated as a possible hate crime, officials there said Sunday. The three men, attacked Saturday evening, are each 20 years old, the Burlington Police Department said. Two of the men were shot in their torsos while a third was hit lower on the body.
Organizations: Burlington Police Department Locations: Burlington , Vt
Houses Too Expensive to Buy Underpin Lofty Rents
  + stars: | 2023-11-21 | by ( Will Parker | ) www.wsj.com   time to read: 1 min
The exodus of workers and businesses during the pandemic left San Francisco a shell of its former self. But there are small signs of a turnaround. WSJ explores whether new civic policies and fresh commercial interest can rejuvenate the city’s downtown. Photo illustration: Rio Roye/WSJBig public companies that rent out single-family homes are beating the rest of the rental market this year, thanks to tenants who are paying large rent increases on the sorts of homes they increasingly can’t afford to buy. Landlords Tricon Residential , Invitation Homes and AMH , which together own about 180,000 rental homes, each posted rent increases greater than 6% for the third quarter over the same period a year prior.
Persons: Roye Locations: San Francisco
The Federal Deposit Insurance Corp. is doing what it was designed to do when banks like Silicon Valley and Signature go under: cover insured deposits. Here’s how the FDIC works and why it was created. Photo illustration: Madeline MarshallThe sale of Signature Bank ’s $33 billion in commercial-property loans and other assets is expected to attract bids as much as 40% below face value, offering new evidence of how much property prices have eroded. Regulators closed Signature Bank in March after a run on its deposits, marking the fourth-largest bank failure in U.S. history. Now, the Federal Deposit Insurance Corp. is auctioning off thousands of Signature loans backed by apartment buildings and other commercial properties primarily in the New York region.
Persons: Madeline Marshall Organizations: Federal Deposit Insurance Corp, Signature Bank, Bank Locations: Silicon, New York
With housing in short supply, developers are converting more empty offices into apartments. But not all buildings are candidates for reuse, even as more than 1 billion square feet of office space sits vacant across the U.S. Photo Illustration: Amber BragdonCities hoping to convert emptying office buildings into apartments are running into financing issues, stagnating rental markets and other challenges that are bottling up their efforts. Developers last year created just 3,575 apartment units in the U.S. through office conversions, according to an analysis by rental listing site RentCafe. That amounts to less than 1% of all apartments built that year through new construction.
Persons: Bragdon Locations: U.S
With housing in short supply, developers are converting more empty offices into apartments. But not all buildings are candidates for reuse, even as more than 1 billion square feet of office space sits vacant across the U.S. Photo Illustration: Amber BragdonCities hoping to convert emptying office buildings into apartments are running into financing issues, stagnating rental markets and other challenges that are bottling up their efforts. Developers last year created just 3,575 apartment units in the U.S. through office conversions, according to an analysis by rental listing site RentCafe. That amounts to less than 1% of all apartments built that year through new construction.
Persons: Bragdon Locations: U.S
If you want to know why apartment rents got so high, some people say look to big data. Many landlords outsourced their pricing decisions to software that told them what rents to charge. Then they direct landlords on how much to increase rent for each lease renewal, or what to ask for newly vacated apartments. Algorithms and other big data have changed the way many landlords do business. Many building owners also once believed keeping their apartment buildings as full as possible was the best way to maximize profits.
Persons: wasn’t
The Apartment Market Is Hitting a Construction Lull
  + stars: | 2023-10-02 | by ( Will Parker | ) www.wsj.com   time to read: 1 min
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/real-estate/the-apartment-market-is-hitting-a-construction-lull-b85025ae
Persons: Dow Jones
Rising Rents Are Hitting American Suburbs Hardest
  + stars: | 2023-09-06 | by ( Will Parker | ) www.wsj.com   time to read: 1 min
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/economy/housing/rising-rents-are-hitting-american-suburbs-hardest-6c001518
Persons: Dow Jones
The cost to rent a home or apartment has soared, and it isn’t just because of super high rents. Landlords are hitting tenants with an abundance of fees every month. Many are no more than five or 10 bucks each, but when stacked up they can amount to hundreds of dollars more each year. Some fees, such as those for parking and pets, have been around for years, but many renters now pay up for things they were rarely charged for in the past. That includes fees for trash pickup, pest control, the use of a mailbox, and for making routine maintenance requests.
Locations: Minnesota
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/personal-finance/interest-rates-investing-mortgage-banks-real-estate-debt-ca87c251
Persons: Dow Jones
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/economy/housing/u-s-home-sales-fell-in-july-extending-prolonged-slump-2895209
Persons: Dow Jones
Will ParkerWill Parker writes about the housing and residential rental market for The Wall Street Journal. He was previously a reporter and special projects editor at the Real Deal, where he focused on the intersection of New York City real estate and politics.
Persons: Will Parker Will Parker Organizations: Wall Street, Real, New York Locations: New, New York City
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/after-pulling-inflation-down-gasoline-and-food-threaten-to-nudge-it-up-51cba41f
Persons: Dow Jones
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/a-real-estate-haven-turns-perilous-with-roughly-1-trillion-coming-due-74d20528
Persons: Dow Jones
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/is-work-from-home-to-blame-for-senior-housings-muted-recovery-abf702b
Persons: Dow Jones
Wave of Rental Resets to Further Deplete Affordable Housing
  + stars: | 2023-07-10 | by ( Will Parker | ) www.wsj.com   time to read: 1 min
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/wave-of-rental-resets-to-further-deplete-affordable-housing-62c8d063
Persons: Dow Jones
Renters Are About to Get the Upper Hand
  + stars: | 2023-06-13 | by ( Will Parker | ) www.wsj.com   time to read: 1 min
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/renters-are-about-to-get-the-upper-hand-f6387df4
Persons: Dow Jones
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/pretium-to-pay-1-5-billion-to-biggest-home-builder-for-4-000-rental-homes-8d6bbd51
Persons: Dow Jones
Defaults are rising for a niche mortgage bond used primarily to fund apartment-building purchases, another sign that rising interest rates are upending the property sector. This product, known as collateralized loan obligations, or CLOs, are mortgages packaged into bonds that are sold to investors. These mortgages helped fuel the rise in housing costs across Sunbelt states such as Arizona, Texas and Nevada, facilitating the purchase of buildings where property owners saw opportunities to raise rents.
New York City area properties include several large apartment buildings in the Bronx, Brooklyn and Queens. Photo: Gary Hershorn/Getty ImagesNuveen, the asset management arm of Teachers Insurance and Annuity Association of America, is acquiring a more than 12,000-unit affordable housing portfolio in one of the largest multifamily housing deals this year. The properties are largely concentrated in the New York City area, including several large apartment buildings in the Bronx, Brooklyn and Queens. Other buildings are located in Maryland, Massachusetts, Texas and other states, Nuveen said on Tuesday. The portfolio includes developable land and existing buildings in need of rehabilitation that could eventually produce an additional 8,000 low-income apartments, Nuveen said.
California landlords say there is no longer any pandemic justification for many renter protections. Photo: Mario Tama/Getty ImagesA handful of California cities are still enforcing laws that protect tenants from eviction or rent increases, extending pandemic-era policies that most of the country wound down more than a year ago. The San Francisco board of supervisors voted in March to maintain a local eviction ban for unpaid rent until at least the summer. The city of Los Angeles, meanwhile, extended a prohibition on evicting tenants for having unauthorized pets or occupants in their apartments. It also renewed a rent freeze on rent-controlled apartments until next year.
The Building Boom Is Prolonging Market Pain
  + stars: | 2023-04-30 | by ( Ryan Dezember | Will Parker | ) www.wsj.com   time to read: 1 min
The building boom has helped push unemployment to around its lowest level in more than 50 years. That is perplexing investors who want to see the Federal Reserve switch course on interest rates. Construction spending and employment have risen to new records this year, boosted by government outlays for infrastructure, a domestic manufacturing renaissance and a wave of apartment building that got off to a slow start during the pandemic when prices for building materials, such as lumber, were sky high.
Blackstone is in danger of defaulting on a $270 million loan backed by 11 apartment buildings in New York’s most expensive borough. Photo: Michael Nagle/Bloomberg NewsApartment rents in Manhattan are soaring to new highs this year, even as rents plateau or fall in most of the rest of the country. Blackstone Inc. risks losing a portfolio of Manhattan apartments anyway. The real-estate and private-equity firm is in danger of defaulting on a $270 million loan backed by 11 apartment buildings in New York’s most expensive borough. Cash flow from the properties isn’t enough to cover the cost of all the debt, according to a report from Moody’s Investors Service.
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/houston-apartment-owner-loses-3-200-units-to-foreclosure-as-multifamily-feels-the-heat-fb3d0e75
Apartment-Building Sales Drop 74%, the Most in 14 Years
  + stars: | 2023-04-04 | by ( Will Parker | ) www.wsj.com   time to read: 1 min
Sales of rental apartment buildings are falling at the fastest rate since the subprime-mortgage crisis, a sign that higher interest rates, regional banking turmoil and slowing rent growth are undercutting demand for these buildings. Investors purchased $14 billion of apartment buildings in the first quarter of 2023, according to a preliminary report by data firm CoStar Group. That represents a 74% decline in sales from the same quarter a year earlier and would be the largest annual sales decline for any quarter going back to a 77% drop in the first quarter of 2009.
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