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6 mentions found


☆ Investor home purchases jump for the first time in two years. Here's what that means for buyers
  + stars: | 2024-06-04 | by ( Ana Teresa Solá | ) www.cnbc.com   time to read: +3 min
watch nowWhat an investor home purchase meansIn this context, investors are defined as any institution or business that purchases residential real estate, according to Redfin. Investor share refers to the portion of homes purchased by investors over a certain period, said Chen Zhao, senior economist at Redfin. Part of the recent increase in real estate investor activity is due to seasonality, as more homes are typically sold during the spring, Walsh said. Sales began to decline as mortgage rates climbed, as higher interest rates affect both typical homebuyers and investors, he said. What investor interest means for buyers and rentersIf you're a consumer buying on the market, you are competing against investors on top of other typical homebuyers, Zhao explained.
Persons: Chen Zhao, Zhao, Matthew Walsh, there's, aren't, Moody's, Redfin's Zhao, Walsh, Sales Organizations: Investor, Parcl Labs, Moody's, Investors, CNBC Locations: U.S
☆ US home prices have soared 47% so far this decade, outpacing all of the growth seen in the 1990s and 2010s
  + stars: | 2024-05-10 | by ( Matthew Fox | ) www.businessinsider.com   time to read: +1 min
US home prices have soared 47% so far this decade. The price surge has outpaced the gains seen in the 1990s and 2010s, and is nearly ahead of the 2000s. AdvertisementUS home prices have soared 47.1% so far this decade, according to a ResiClub analysis of the Case-Shiller National Home Price Index. The massive price gains seen in the first four years of the 2020s have eclipsed all of the growth seen in the 1990s and 2010s, according to the analysis. This story is available exclusively to Business Insider subscribers.
Persons: — Organizations: Service, Business
☆ Empty office buildings won't be the solution to the US housing shortage
  + stars: | 2024-02-26 | by ( Phil Rosen | ) www.businessinsider.com   time to read: +4 min
The US housing market faces an inventory shortage, but empty offices don't offer a solution. Goldman Sachs strategists say that offices can't be cheaply or easily converted into residential units. Goldman Sachs Investment Research, CoStar dataIn the same stretch, a combination of high mortgage rates and home prices with limited housing inventory has frozen the US housing market. Residential housing affordability has declined for the last 15 years and hit a historical low in 2022. "Our analysis implies that only 0.8% of US office inventory is currently priced at a level that makes conversion to multifamily housing financially feasible," the bank maintained.
Persons: Goldman Sachs, —, it's, Goldman, Jan Hatzius Organizations: Service, Goldman Sachs Investment Research, Goldman, San Locations: San Francisco, Los Angeles, Seattle
☆ A German bank says it's preparing for the worst property crisis since '08 as commercial real estate distress spreads
  + stars: | 2024-02-13 | by ( Phil Rosen | ) www.businessinsider.com   time to read: +3 min
Deutsche Pfandbriefbank AG said it's bracing for an ongoing decline in commercial real estate. It called the downturn "the greatest real estate crisis since the financial crisis." Shares of the German bank have declined about 25% year-to-date. AdvertisementSigns of commercial real estate distress continue to mount, with the latest warning coming from German lending giant Deutsche Pfandbriefbank AG. "Despite these expenses, pbb remains profitable thanks to its financial strength – even in the greatest real estate crisis since the financial crisis," the bank said in a statement February 7.
Persons: —, they've Organizations: Deutsche Pfandbriefbank AG, Service
☆ Office-to-residential conversions have surged 357% since 2021 as billions in commercial mortgages come due
  + stars: | 2024-02-07 | by ( Phil Rosen | ) www.businessinsider.com   time to read: +3 min
Office-to-residential conversions are up 357% since 2021, according to a report from ResiClubThere's $150 billion in office mortgages set to come due in 2024. Last year, about $541 billion of commercial real estate debt officially matured. AdvertisementBy 2027, $2.2 trillion of commercial real estate debt is set to mature, Capital Economics said. ResiClub cofounder Lance Lambert pointed out that commercial buildings aren't all designed or constructed to be repurposed as living spaces. "It makes sense given the wave of expired leases and vacant office buildings," Lambert said.
Persons: —, Moody's, CommercialEdge, Lance Lambert, Lambert, " Lambert Organizations: Service, ResiClub, Federal Reserve, Washington DC, Dallas, Research, Capital Economics, Business Locations: RentCafe, ResiClub, Washington, New York
☆ A housing expert who nailed the prediction for 2023 says home prices to jump 7% this year
  + stars: | 2024-01-16 | by ( Phil Rosen | ) www.businessinsider.com   time to read: +3 min
Nik Shah, a housing expert who was spot-on in his forecast for last year, said prices could climb 7% in 2024. "Barring a black swan event, we predict that the housing market in 2024 will appreciate more than 2023," Shah told the real estate outlet. Related storiesFor reference, the S&P CoreLogic Case-Shiller National Home Price Index notched a 4.8% annual gain up to October 2023, in line with Shah's estimate. At the same time, aging boomers will lead to an uptick in housing supply, which will should help ease prices. Meanwhile, findings from a separate Zillow survey suggest that the housing market could be breaking free from the "rate lock" phenomenon that froze activity last year.
Persons: Nik Shah, ResiClub, —, Shah, hasn't, Gen Z Organizations: Service, metros, Owners Locations: Austin, Boise, Denver
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