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☆ The looming office space real estate shortage. Yes, shortage
▼ + stars: | 2023-11-26 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +6 min

You read that right: amid a commercial real estate market across U.S. downtowns being described in apocalyptic terms, CoStar sees a shortage on the horizon, with one key caveat for top companies to bear in mind. CoStar's call of an upcoming office space shortage is predicated on a look at the current data on leasing and construction activity compared to recent market history. They have attracted over 175 million square feet of net new occupancy since the beginning of 2020, an average of 12.7 million square feet per quarter. "Modern, premium office space remains in demand, just as it has historically, even during difficult economic times," said Phil Mobley, national director of office analytics at CoStar Group. Less than 30 million square feet has broken ground in 2023, making this year the lowest for construction starts since 2011.

Persons: Visoot, downtowns, Phil Mobley, Google's, Mobley, Jeff Greene Organizations: CNBC, Google, City, Gas Co, Billionaire Locations: U.S, New, Los Angeles, West Palm Beach

☆ With the economy holding up, why is the market still so down on America's banks?
▼ + stars: | 2023-09-10 | by ( Tim Mullaney | ) www.cnbc.com time to read: +7 min

Regional bank stocks, in particular, gained as much as 35% before the bond warnings and downgrades began. The higher interest rates bond analysts cited hurt profits some, but most banks' net interest income and margins were higher than a year before. The ratings actions pushed the regional bank stock index 10% lower for the month-long period ending Sept. 8, according to Morningstar (the Moody's bank warning was issued August 7). By any reckoning, the argument about banks is about two things: Interest rates and real estate, specifically office buildings. The average regional bank stock rose 8% after earnings, Morgan Stanley said, with banks beating profit forecasts by an average of 5%.

Persons: Morningstar —, downgrades, Morgan Stanley, Jill Cetina, Cetina, Banks, Goldman Sachs, Jan Hatzius, Scott Rechler, Jeff Greene, Alexander Yokum, Dick Bove, Bove, Yokum Organizations: First, JPMorgan, Bloomberg, Getty, Moody's Investors Service, Poor's, Fitch, Morningstar, Federal Reserve, Fedwatch, RXR, Research, Odeon Capital Locations: First Republic, Regional, Moody's, U.S

☆ Watch CNBC's full interview with billionaire real estate investor Jeff Greene
▼ + stars: | 2023-08-30 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with billionaire real estate investor Jeff GreeneBillionaire real estate investor Jeff Greene joins 'Squawk Box' to discuss the state of real estate, the health of the commercial real estate sector, why he believes a reckoning is coming for the residential housing market, stock market outlook, and more.

Persons: Jeff Greene Organizations: Jeff Greene Billionaire

☆ Billionaire investor Jeff Greene: We're in the first inning of the commercial real estate correction
▼ + stars: | 2023-08-30 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBillionaire investor Jeff Greene: We're in the first inning of the commercial real estate correctionBillionaire real estate investor Jeff Greene joins 'Squawk Box' to discuss the state of real estate, the health of the commercial real estate sector, why he believes a reckoning is coming for the residential housing market, stock market outlook, and more.

Persons: Jeff Greene, We're

☆ Every aspect of real estate 'is going to get whacked' as savings vanish, billionaire investor says
▼ + stars: | 2023-08-30 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Billionaire investor Jeff Greene says to expect discounts through real estate, as consumer savings fall. Discounts on office spaces will also be fueled by remote work, told CNBC. "In the next 12 to 24 months, you're going to see some extraordinary opportunities to buy." Retail, office, apartments — every aspect of real estate is going to get whacked, and I think we're just in the first inning," the real estate mogul told CNBC. AdvertisementAdvertisementDemand for commercial real estate is further pulled down by the continued prevalence of remote work, with 20%-25% of US employees still working from home.

Persons: Jeff Greene, That's, Greene, Goldman Sachs Organizations: CNBC, Service Locations: Wall, Silicon

☆ WeWork just warned it might fail, signaling commercial real estate is in serious trouble
▼ + stars: | 2023-08-09 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +5 min

The shared-workspace giant's woes may spell trouble for commercial real estate as a whole. "Excess supply in commercial real estate, increasing competition in flexible space and macroeconomic volatility drove higher member churn and softer demand than we anticipated, resulting in a slight decline in memberships," he said. What does this mean for commercial real estate? Commercial real estate has been one of the hardest-hit sectors of the US economy over the last year. Its failure could be a "systematic shock" to commercial real estate in many American cities, Stijn Van Nieuwerburgh told The New York Times in June.

Persons: WeWork, David Tolley, Elon Musk, Charlie Munger, Jeff Greene, Ross Perot, Van Nieuwerburgh Organizations: Service, Investors, Federal Reserve, Ross Perot Jr, New York Times, Columbia Business School Locations: Wall, Silicon

☆ Millions of Americans’ personal data exposed in global hack
▼ + stars: | 2023-06-16 | by ( Sean Lyngaas | ) edition.cnn.com time to read: +5 min

CNN —Millions of people in Louisiana and Oregon have had their data compromised in the sprawling cyberattack that has also hit the US federal government, state agencies said late Thursday. The breach has affected 3.5 million Oregonians with driver’s licenses or state ID cards, and anyone with that documentation in Louisiana, authorities said. The hackers exploited a flaw in a popular file-transfer software known as MOVEit made by Massachusetts-based Progress Software. Hundreds of organizations across the globe have likely had their data exposed after the hackers used the flaw to break into networks in recent weeks. US officials described the cyberattack as an opportunistic, financially motivated hack that has not caused disruptions to agency services.

Persons: Casey Tingle, Aon, John Bel Edwards, ” Munish Walther, Puri, It’s, ”, Jeff Greene, “, Greene Organizations: CNN, Department of Energy, BBC, British Airways, University of Georgia, Social, Louisiana Office of Motor Vehicles, Louisiana Gov, US, Progress Software, FBI, Infrastructure Security Agency, National Security Council, Aspen Locations: Louisiana, Oregon, Russian, Massachusetts, Clop, Ukraine

☆ Real-estate tycoon Jeff Greene made $800 million shorting the last housing bubble. He explains how John Paulson inspired the contrarian bet, and how he's protecting his wealth today.
▼ + stars: | 2023-06-08 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Jeff Greene told the story of his lucrative wager against the mid-2000s housing bubble to Insider. John Paulson told Greene about his iconic trade, which "Big Short" investor Michael Burry also made. Jeff Greene, one of the few investors to successfully short the mid-2000s housing bubble, expects the US economy to slump and home prices to drop. Warren Buffett, during Congressional testimony in 2010, underscored how contrarian it was to bet against the housing market at that time. "The Cassandras were there, but who's going to listen to John Paulson in 2005 or 2006, or Michael Burry?"

Persons: Jeff Greene, John Paulson, Greene, Michael Burry, Paulson, Paulson's, Warren Buffett, Berkshire Hathaway Organizations: Federal, Forbes, Berkshire Locations: West Palm Beach , Florida

☆ US house prices may slide as their recent strength and steeper mortgage rates hit demand, Wharton professor Jeremy Siegel says
▼ + stars: | 2023-06-06 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Home prices may fall as recent gains and higher borrowing costs restrain demand, Jeremy Siegel says. "The higher interest rates and 40% increase in home prices more than doubled the cost of homes for buyers," the retired Wharton finance professor said in his weekly commentary for WisdomTree on Monday. "Mortgage rates had ticked down to 6% a few months ago before rising back above 7% now — so perhaps we see some renewed softness in housing prices," Siegel added. Higher interest rates translate into larger monthly mortgage payments, which mean banks are willing to lend significantly less money to homeowners today than they were a few years ago. "Shark Tank" investor Barbara Corcoran has argued there's a load of pent-up demand, and called for home prices to surge 20% once interest rates fall by two percentage points.

Persons: Jeremy Siegel, Wharton, Siegel, —, WisdomTree, joblessness, Barbara Corcoran, Jeff Greene Organizations: Service, Federal Locations: —

☆ Billionaire Trump neighbor says his Mar-a-Lago crowd aren't real friends: 'It's all transactional'
▼ + stars: | 2022-11-24 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +3 min

Trump doesn't have real friends at Mar-a-Lago, a Florida billionaire told the Financial Times. Despite the atmosphere of adulation, it's "all transactional," Jeff Greene told the paper. Real estate mogul Jeff Greene told the paper that the atmosphere of adulation there is "all transactional." Asked who Trump's close friends are, Greene told the paper: "I don't think he has any friends." . . and tell him how good he is," Greene told the FT.

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