Category: Residential Real Estate
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Hot Developer in Hot Water
StoryBuilt is up for sale with an estimated value of $2 billion, including projects in some of the highest-growth markets in the United States. A&G Real Estate Partners and Onyx Asset Advisors said they are looking to sell 28 developments in various stages of planning or completion in Austin, Texas; Dallas; Denver; and Seattle by…
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Evergrande Disaster
China’s property collapse, particularly with Evergrande, can be attributed to the country’s one-child policy, declining birth rate, and faulty population data. Evergrande’s growth strategy of borrowing money for land acquisition and selling homes before they were built resulted in massive debt for the company. Evergrande has over $320 billion in debt, making it the most…
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Buyer Beware (pt 2)
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Buyer Beware!
In August 2023, mortgage rates rose to the highest level in 23 years, with the national average 30-year fixed mortgage hitting 7.48%. With home prices and mortgage rates both rising, the U.S. is now witnessing the biggest numerical gap in the monthly cost between owning a home and renting in over 50 years. Today’s chart…
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Chicago Property…
https://www.wsj.com/real-estate/too-many-vacant-lots-not-enough-housing-the-u-s-real-estate-puzzle-2aa19733?mod=hp_lead_pos7\ In Chicago there is “not enough housing” but there are “too many vacant lots.”hmmmmmm WSJ Reasons: Cumbersome rules to resolve unpaid tax bills on abandoned lots keep away developers, and cheap tax assessments on vacant lots encourage owners to keep them off the market. These are the perfect conditions for a downward housing spiral,…