Investors expect only a weak recovery for commercial real estate markets next year, which they view as a transition period, according to an annual survey of CRE industry experts.The report, Emerging Trends in Real Estate: 2004, says the respondents believe that any recovery will be tempered by corporate outsourcing of jobs overseas, employment weakness, and government fiscal problems. The market is still characterized by weak fundamentals such as high vacancy rates, falling rents, and rising property taxes and operating expenses, said the Urban Land Institute and PricewaterhouseCoopers, which jointly publish the report. "No one expects a sudden rebound -- rents will be flat in most sectors, down more for office," the report says. "Income returns carry the day, appreciation will be negligible and many office markets will experience value dips or worse." The organizations can be found online at http://www.uli.org and http://www.pwcglobal.com.
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The lender recorded a $59 million net loss in the fourth quarter, an 83% improvement from its third quarter performance.
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Initial analyses of Home Mortgage Disclosure Act data show UWM ahead in 2023 loan numbers and dollar volume, but Rocket's market share still looks competitive.
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Last year, the Raleigh, N.C.-based Integrated called off a deal to sell itself to MVB Financial after bank stocks took a hit in the aftermath of the regional bank failures. Capital hopes to expand its government-guaranteed lending with the transaction.
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The pending end of the program comes as over half of U.S. states have already ceased accepting new applicants for federal aid aimed to help struggling households with mortgage payments.
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But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.
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Mortgage payments rose 10% year-over-year to an all-time high for March, Redfin said.
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