It’s the end of the world as we know it…and, no, unlike the lyric in the R.E.M song, I do not know anyone who is feeling fine…Uncertainty, fear, sense of disruption, anxiety, and a total lack of control are just a few of the sentiments many of us harbor these days. The rapid and indiscriminate […]
April 1st has come and gone. Exact numbers are spotty, but commercial owners are reporting that some tenants have not yet paid rent for the month—including as many as 50 percent of small businesses. That’s pushing tenants and landlords to the bargaining table to negotiate rent relief terms. It has been about a month since […]
Private equity investors are planning to take advantage of distressed asset sales, reports the Wall Street Journal. Airbnb has raised $1 billion in new funding, according to The New York Times. These are among today’s must reads from around the commercial real estate industry. NREI Staff | Apr 07, 2020
(Bloomberg)—The number of U.S. homeowners who have stopped making mortgage payments is surging under the federal government’s new forbearance program, according to a survey from the Mortgage Bankers Association. The percentage of loans in forbearance grew to 2.66% as of April 1, according to the MBA’s Forbearance and Call Volume Survey. On March 2, the […]
(Bloomberg Opinion)—The U.S unemployment report for March foreshadowed the ugly numbers to come as the economy’s sudden stop sidelines entire sectors. The prospect of double-digit unemployment rates raises the possibility that what is now the “Great Suppression” will become the next Great Depression. This raises an important question for market participants: What separates a depression […]
In this episode of Common Area Podcast, David Bodamer speaks with Adam Hooper, the founder and CEO of RealCrowd. RealCrowd is a digital marketplace for real estate managers that are looking to raise capital from accredited investors. Together, they discuss the impact that COVID-19 is having on commercial real estate, which was in a fairly […]
The precise impact of the COVID-19 pandemic on commercial real estate markets remains unknowable, but no doubt the effects will vary by market and asset class and depend greatly on the duration of the economic shutdown. Economic models indicate a recession, but what form that takes remains to be seen. Ultimately, the capital markets will […]
The federal government’s $2 trillion stimulus package is a courageous step to boost our economy but is not enough to protect the retail industry. The looming cash shortfall threatens tenants, landlords, and lenders. If we want the retail sector—which supports 52 million jobs nationwide—to persevere, the government must extend to landlords the same protections it […]
The good news for the hospitality sector is that occupancy rates likely won’t fall in the coming weeks. But that’s only because occupancies have already dropped so low. Less than a quarter (22.6 percent) of the hotel rooms in the U.S. were occupied in the week ending March 28, according to STR. That’s down from […]
New York remains Ground Zero for the COVID-19 outbreak in the United States. As of Monday afternoon, there were more than 130,000 cases in the state and more than 4,700 people had died during the outbreak. Around half of those cases are in New York City. That’s put the Big Apple in a race against […]