Leverage on CMBS Multifamily Loans Gets Higher
CMBS lenders now offer higher and higher levels of leverage to make deals?especially as prices for apartment properties rise compared to rents. These high-leverage loans worry market watchers like the bond-rating agencies. These ratings agencies are raising their credit enhancement levels. Bond buyers are getting pickier what loans they will accept… Read more »
U.S. Home Sales Falter to Start Year
Sales of previously owned homes slowed in January, a reflection of the rising prices and tight supplies that could constrain the housing market this year. Existing-home sales fell 4.9% last month from December to a seasonally adjusted annual rate of 4.82 million, the National Association of Realtors said on Monday, the slowest pace in nine months. Weather didn?t appear to be a big factor in the report, which showed sales falling across all regions of the country… Read more »
Phoenix Area Attracting More Canadian Residents, Businesses
For decades, our neighbors up North have been relocating their businesses to the Valley. Here’s a look at some that came recently and others that have been here for a while. Read more »
REITs See Move Outs to Homeownership Drop in 4Q
Amid reports of an improving for-sale market, apartment REITs actually saw the number of renters who moved out to buy new homes drop 300 basis points to 15.2% (of total move outs) year-over-year in the fourth quarter of 2014. When single-family sales are strong, the REIT group as a whole can see as many as 20% of their move outs go to homeownership… Read more »
Arizona Manufacturing Jobs Steady But Slumping
Arizona is tied for last place in one national ranking ? and it’s a good thing. Only 1.3 percent of the state’s employment is in non-durable goods manufacturing. On the other side of durability, the state is solidly in the middle of the pack and steady in percent of workforce involved with durable goods manufacturing. Those rankings are slightly glimmering good signs for the export economy because jobs in those industrial sectors are holding steady… Read more »