Treasury Secretary Steven Mnuchin plans to leave the Fannie Mae, Freddie Mac privatization decision up to the Biden administration, reports the Wall Street Journal. Looming evictions disproportionately threaten families of color, according to Politico. These are among today’s must reads from around the commercial real estate industry.
Fannie, Freddie Slump After Mnuchin Rules Out Freeing Companies
Mnuchin indicated he’s not going to pursue any actions that put taxpayers at risk or limit consumers’ access to home loans.
More U.S. Homeowners Seek to Delay Mortgage Payments
In the first week of December, the proportion of mortgage borrowers that sought forbearance rose to its highest level since August.
Nine Must Reads for the CRE Industry Today (Dec. 15, 2020)
Small banks had a good year in 2020, reports the Wall Street Journal. Many businesses in California are at the breaking point amid new shutdown orders, according to The Guardian. These are among today’s must reads from around the commercial real estate industry.
Distressed Commercial-Property Sales Seen Surpassing Last Crisis
CoStar Group estimates that $126 billion in CRE assets will be sold at distressed prices through 2022.
Eight Must Reads for the CRE Industry Today (Dec. 14, 2020)
Bisnow talked to 43 commercial real estate executives asking how 2020 has changed how they will run their businesses in the future. Dr. Peter Linneman and Matt Larriva claim to have developed a methodology to forecast cap rates for up to a year in the advance, reports Commercial Property Executive. These are among today’s must reads from around the commercial real estate industry.
Fed Expected to Offer New Guidance, Not Action, on Bond Buying
The additional guidance could provide more clarity on what conditions would eventually prompt the Fed to increase or decrease the pace of bond purchases.
Oracle Moves Headquarters to Texas, Joining Valley Exodus
The move comes amid Oracle’s drive to shed costs during a transition from traditional software to cloud computing.
Multifamily Investors Are Ending 2020 on a Brisk Buying Clip
Tired of waiting for discounts, investors have come off the sideline to snap up assets in a year end of rush of deals.
Eight Must Reads for the CRE Industry Today (Dec. 12, 2020)
Democrats in Congress have launched an investigation into the Kushner Co.’s deal on a New York office tower, reports Bisnow. One third of commercial leases since March mention pandemics as a force majeure event, more than double for leases inked prior to COVID-19, according to Law360. These are among today’s must reads from around the commercial real estate industry.