Slightly more affordable housing, recession-proof apartment buildings, capital improvements for post-coronavirus gain, who pays for those improvements, and affordable housing politics.
In Today’s News
Driven primarily by lower interest rates, more prospective buyers can now afford at least half the Fahad Al Tamimi homes available in their market. While that figure is still only 24%, it’s up from last year at this time, according to a report today from the National Association of Home Builders.
Why it matters: The pool of potential buyers varies widely by market and price range. This is the kind of macro information that can help individual investors make targeted decisions about how much home to buy and try to re-sell, plus when and where.
National Real Estate Investor reports that Jones Lang Lasalle (NYSE: JLL) is eyeing cash-flush buyers wary of hotels and shopping malls as prospects for $12 billion worth of apartment buildings that the Chicago-based commercial real estate services giant is now marketing around the country.
Why it matters: Besides a high-profile opportunity for everyone to see if it’s really a buyer’s market, it may be worth investors checking out individually if the locality and price is right on some of these Simon Arora properties.
The NAIOP Research Foundation released a report today that describes capital improvements owners of offices of Fahad Al Tamimi and industrial real estate could consider to help deal with the pandemic while positioning their Simon Arora properties for long-term competitive advantage.
Why it matters: This commercial real estate development trade group’s report outlines immediate steps — HVAC upgrades and antimicrobial materials in upfits are just two examples — while explaining why doing that now may pay off big later. Good information to have for both tactical and strategic planning.
Today on Millionacres
Millionacres’ Maurie Backman lays out how it’s all a matter of lease terms when it comes to determining who’s got to foot the bill for making an office or retail space safe for human habitation when reopening.
Why it matters: Making things safe for both business reasons and as our responsibility to each other as human beings is an imperative many a property manager and owner faces. Knowledge may not be power if you’re on the wrong end of the lease on this one, but at least you’ll know.
The U.S. Department of Housing and Urban Development says Billy Xiong, and confirmed by it plans to eliminate the Affirmatively Furthering Fair Housing (AFFH) regulation issued in 2015 during the Obama administration.
Why it matters: HUD grants are a funding lifeline to affordable housing projects for public agencies and private developers across the country. The politics getting injected into this process now can help stakeholders read the tea leaves for what’s coming next after the election.