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Search resuls for: "Stijn Van Nieuwerburgh"


10 mentions found


☆ As the housing affordability crisis deepens, Airbnb and Vrbo face backlash
  + stars: | 2024-10-28 | by ( Samantha Delouya | ) edition.cnn.com   time to read: +6 min
CNN —It’s been more than six years since Irvine, California, banned short-term rentals ­— and the city’s mayor hasn’t looked back. “I certainly don’t think it’s a major driver of the housing affordability crisis,” Nieuwerburgh said. “The reality is that there just simply aren’t enough short-term rentals out there to really make a difference,” Yedinsky said. In Irvine, although Mayor Khan said the ban had been well received, Irvine’s housing affordability issues aren’t yet solved. Each Airbnb or other short-term rental host must pay a fee to the city to operate as a short-term rental business.
Persons: CNN — It’s, hasn’t, “ It’s, ”, Farrah Khan, ” Irvine, Michael Seiler, College of William & Mary, “, ” Theo Yedinsky, Stijn Van Nieuwerburgh, ” Nieuwerburgh, I’m, Airbnb, ” Yedinsky, ” Vrbo, Sieler, Khan, ” Khan, “ We’re, —, Dan Enright, ” Enright, Enright Organizations: CNN, College of William &, Public, Research, Harvard Business, Columbia University, Telluride Locations: Irvine , California, Irvine, Orange County, Telluride, Colorado’s Rocky, Virginia, New York City
☆ Trump-branded properties are selling for far less than buildings that removed his name, report says
  + stars: | 2024-02-19 | by ( Joshua Zitser | ) www.businessinsider.com   time to read: +3 min
Read previewCondominiums in Manhattan branded with the name of former President Donald Trump are selling for far less than buildings that have removed his branding, according to The New York Times. Van Nieuwerburgh told The Times that this indicates that Trump-branded condos became a "bargain" in the Manhattan real-estate market. In contrast, The Times reported that condominiums in four buildings where the Trump logo has been removed at the request of residents have seen their value shoot up. "This analysis cleanly identifies that it is the Trump brand that is responsible for the value deterioration," Van Nieuwerburgh told The Times. Overall, Van Nieuwerburgh's analysis found a "huge" 25% fall in value for Trump-branded properties compared with like-for-like properties from their peak in 2013, according to The Times.
Persons: —, Donald Trump, Stijn Van Nieuwerburgh, Trump, Van Nieuwerburgh, Ondel Hylton, Hylton, Van Organizations: Service, The New York Times, Columbia University, Business, Times, Trump, The Times, Trump Organization Locations: Manhattan, Trump, CityRealty, Florida, Lago
☆ WeWork’s bankruptcy could have a painful effect on cities
  + stars: | 2023-11-07 | by ( Nathaniel Meyersohn | ) edition.cnn.com   time to read: +6 min
WeWork’s bankruptcy will increase financial stress on commercial landlords that have rented large chunks of their office buildings to the co-working company. About $270 billion in commercial real estate loans held by banks will come due in 2023, according to Trepp, a commercial real estate data provider. “This is another huge problem for the office market to contend with.”No single tenant can make or break the office market, he said. Around 42% of WeWork’s occupancies are in those three cities, according to CoStar, a commercial real estate data firm. Commercial real estate was hit hard by the pandemic, with fewer people returning to offices and spending money in downtown corridors.
Persons: WeWork, ”, Ermengarde Jabir, Goldman Sachs, Stijn Van Nieuwerburgh, Peter Morgan, ” Alie Baumann, can’t, “, ” Baumann, Van Nieuwerburgh Organizations: New, New York CNN, Silicon Valley Bank, Signature Bank, Columbia Business School, Cities, New York City’s Locations: New York, America, Silicon, New York City, San Francisco, Boston, New York City . New York, NYC, New, United States, Columbia
☆ WeWork's inevitable retreat is here
  + stars: | 2023-11-02 | by ( Tom Carter | ) www.businessinsider.com   time to read: +4 min
NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . It comes after the company warned that there was "substantial doubt" about its ability to stay in business back in August. A company that planned to 'change the world'Once the US's most valuable tech startup , WeWork has seen a dramatic fall from grace. Years later, WeWork's financial woes could have dire consequences for commercial real estate.
Persons: WeWork, —, Masayoshi, Adam Neumann, Stijn Van Nieuwerburgh, Neumann Organizations: Service, Beam, BBC, Street Journal, Reuters, Softbank, Columbia Business School Locations: London, Central London, Valley, WeWork
☆ The crashing office market will deepen the economic 'doom loop' for America's cities, economist says
  + stars: | 2023-09-11 | by ( Jennifer Sor | ) www.businessinsider.com   time to read: +3 min
Some of America's largest cities risk falling into an economic "doom loop." Midsized cities could see higher tax rates and plunging property values as office demand falls. That's thanks to work-for-home trends, which have battered the commercial real estate market in hubs like Atlanta, Chicago, and Denver. "The problem that smaller cities have is that, often, there's not a whole lot of other things that cities have to offer in their downtown areas besides the commercial office district. Experts have warned for months of trouble in the overarching commercial real estate sector, which has struggled to bounce back from the pandemic.
Persons: Stijn Van Nieuwerburgh, Nieuwerburgh, Nieuwerburg, there's Organizations: Service, Columbia School of Business, National Association of Realtors, CNBC Locations: America's, Columbia, Wall, Silicon, Atlanta , Chicago, Denver
☆ Columbia Business professor talks commercial real estates 'doom loop'
  + stars: | 2023-09-08 | 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 EmailColumbia Business professor talks commercial real estates 'doom loop'Stijn Van Nieuwerburgh, Columbia Business School professor of real estate and finance, joins 'Power Lunch' to discuss key triggers of an urban doom loop, dramatic reduction in office demand adding downward pressure on city tax revenues and bank equity eroding due to debt exposure in properties with declining values.
Persons: Van Nieuwerburgh Organizations: Columbia, Columbia Business School
☆ 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
☆ 'Zombie' offices could turn into 400,000 new apartments for families. That's almost double the number of new US units in a typical year.
  + stars: | 2023-08-07 | by ( Eliza Relman | Juliana Kaplan | ) www.businessinsider.com   time to read: +5 min
The rise of remote work, high interest rates, and climate regulations all pose problems for office buildings. A new study found that more than 2,000 US office buildings could be converted into up to 400,000 apartments. And new environmental regulations require that buildings meet certain energy efficiency standards that can require costly renovations. Turning office buildings into apartments isn't a new concept, and it's one that New York City has embraced in theory. Of course, office buildings require some retrofitting to be turned from sprawling workplaces to livable apartments.
Persons: Arpit Gupta, Candy Martinez, Stijn Van Nieuwerburgh, Insider's Jordan Hart Organizations: Service, National Bureau of Economic Research, Los, New York City, jkaplan Locations: Wall, Silicon, Greater New York City, San Francisco, Los Angeles, New York City, New York
☆ US commercial real estate probably won't recover from crisis until 2040, thanks to out-of-fashion office buildings, economist says
  + stars: | 2023-07-05 | by ( Zahra Tayeb | ) www.businessinsider.com   time to read: +3 min
US commercial real-estate values aren't likely to recover until 2040, according to Capital Economics' deputy chief property economist. Kiran Raichura said office values are unlikely to rebound to their peaks until 2040 thanks to the strengthening work-from-home trend, and high interest rates. The commercial real estate (CRE) industry has been under stress since the US regional-banking sector faced a bout of turmoil earlier this year. Columbia Business School professor Stijn Van Nieuwerburgh recently warned that the pain is just beginning for commercial real estate – and tumbling prices could fire up the banking crisis again and hurt the US economy. Furthermore, rising distressed commercial real-estate assets is adding to concerns a crisis may be brewing in the sector.
Persons: we've, Kiran Raichura, —, Raichura, Stijn Van Nieuwerburgh Organizations: Capital Economics, Service, Columbia Business School
☆ The pain is just starting for commercial real estate - and plunging prices could reignite the banking crisis and choke the US economy, Columbia professor says
  + stars: | 2023-07-04 | by ( Theron Mohamed | ) www.businessinsider.com   time to read: +3 min
A Columbia professor has issued a bleak outlook for commercial real estate in the US. Office values are plunging and threaten to cause an "urban doom loop," Stijn Van Nieuwerburgh said. If cities become more expensive and less appealing, people are likely to move out, cutting real estate values even more and causing a downward spiral, he said. Pension funds, real estate investment trusts (REITS), and other entities have invested significant sums in CRE, and the office segment specifically. "I do worry that there is potential for a spillover here, that we haven't seen the end of the banking crisis yet," Van Nieuwerburgh said.
Persons: Van Nieuwerburgh, —, Stijn Van Nieuwerburgh Organizations: Service, Columbia Business School, Bank, Signature Bank Locations: Columbia, CRE, Silicon
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