Salient to Investors: Miller Samuel and Douglas Elliman Real Estate say Manhattan apartment rents are within 2 percent of their all-time highs set in 2006, up 6.5 percent in April from a year earlier. Real Capital Analytics said investors are clamoring to capture the rising rates, more than doubling the volume of multifamily
READ MORE... →Salient to Investors: Zillow says: 22 million homeowners lack enough home equity to move, keeping property listings tight and limiting sales as the housing market recovers. Values have to climb further to ease the shortage. Over 13 million homeowners were underwater in Q1, or 25.4 percent of those with a mortgage.
READ MORE... →Salient to Investors: More than half of the 20 municipalities with the fastest-growing populations between 2010 and 2012 were suburbs, meaning growing suburban communities will continue to get their share of the $400 billion in funds the federal government annually spends based on population data provided by the Census Bureau. Author James
READ MORE... →Salient to Investors: Dean Maki at Barclays said the housing recovery is intact and on a solid foundation. Lawrence Yun at NAR said the double-digit median price increase is unhealthy because incomes are rising at less than 2 percent – the only way to moderate price increases is more supply, which is 14
READ MORE... →Salient to Investors: US 30-year loan rates are at the highest in 6 weeks at 3.51 percent. Low rates are fueling a frenzy of demand in some markets as buyers compete for a tight supply of properties. Areas such as San Francisco, Atlanta, Phoenix and Reno saw rises of more than 30 percent in
READ MORE... →Salient to Investors: Bloomberg Global Poll: International investors are the most bullish on the US and Japanese markets in more than 3.5 years as both economies are seen to be improving. Over 40% will reduce gold exposure over the next 6 months, close to 3 times more than those who
READ MORE... →Salient to Investors: Regional lenders were the primary source of loans for landlords buying properties before the real estate collapse crash. Since then, at least 475 banks have failed and larger banks have tightened mortgage underwriting standards and are focusing on the biggest investors. Home prices are 29 percent below the 2006 peak. Millions of
READ MORE... →Salient to Investors: The wealth effect from rising house prices may no longer be as effective in spurring the US economy as homeowners increasingly pay down mortgage principal and shorten maturities. Freddie Mac said cash-in refinancings outnumbered cash-outs by more than 2-to-1 in Q4 2012. Amir Sufi at the University of Chicago said the
READ MORE... →Salient to Investors: Calpers market value exceeds the high set before the global financial crisis wiped out more than a third of its wealth, but is is still short $87 billion, or 26 percent, of meeting its long-term commitments. Calpers has half of its money in equities, and returned 13 percent
READ MORE... →Salient to Investors: Builders are rushing to satisfy growing demand for rental units. Work on multi-family homes, such as apartment buildings, jumped 31 percent to an annual rate of 417,000, the most since January 2006. Aneta Markowska at Societe Generale said demand from homebuyers or renters does not matter because it’s roofs over peoples’ heads.
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