The land value tax (LVT), which for years primarily had a following among a niche set of urban economists, has started to receive substantial mainstream acclaim over the past decade and may partially hold the answer for helping to solve the U.S.’s housing shortage. At its fundamental level, the...
Since the original Penn Station was torn down in 1963 to create space for Madison Square Garden, the area surrounding the new Penn Station, built directly under the old structure, has struggled to find its identity. In the decades since the original structure was torn down, the city and...
Opendoor, the once high-flying PropTech startup, lost money on 42% of its transactions in August according to YipitData.[1] The iBuying company’s performance was even worse in markets where it has a large presence such as Los Angeles and Phoenix. Opendoor lost money on 55% and 76% of transactions in...
This week U.S. mortgage rates reached their highest level since 2008 with the average 30-year fixed rate mortgage sitting at 6.3%.[1] This has helped to slow record single-family home appreciation that was up 43% over the pandemic.[2] Rising housing prices combined with borrowing rates that haven’t been seen in...
After Years of Debt Infused Growth, China’s Housing Bubble Looks to be Popping According to S&P, Chinese property sales have dropped 30% year-over-year, putting them on track to decrease more this year than they did during the 2008 financial crisis.1 After 20 years of high-flying growth, Chinese developers are struggling...
Powered by 13 Years of Easy Monetary Policy and Fiscal Stimulus, America’s Strong Housing Market Looks to be Slowing Down, At Least for Now The average rate on a 30-year fixed-rate mortgage jumped to its highest level since 2009 recently, averaging 5.27% for the week ending May 5th.1 This coupled...
3% and 4% Cap Rates Don’t Add Up in a Rising Interest Rate Environment As the 10-year treasury looks to tick above 3% in the not-so-distant future, cap rates across most property types keep compressing. This is particularly true for multifamily assets. While the average 30-year fixed rate mortgage...
As housing prices continue to rise to record levels across most markets throughout the United States, buying a home or renting an apartment at an affordable price is becoming more prohibitive for many middle and low income Americans. During 2010 through 2020, housing completions for single-family and multifamily housing...
A key data point used to measure inflation in the United States rose at its highest pace in over three decades last week. The core personal consumption expenditures price index, which tracks changes in the cost of goods and services, climbed 3.4% year-over-year in May, its highest reading since...
