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Volume 15 | Issue 45 | Thursday, November 02, 2017

The Lede

 

Smaller, 'Younger' Cities Poised for Growth

Smaller secondary cities are poised for growth, reported PwC US, New York, and the Urban Land Institute, Washington, D.C.

 

Top National News

 
MBA President: GSE Reform is Within Reach

Scotsman Guide, Oct. 27, 2017--Victor Whitman
"Actions may take shape that will motivate members of Congress, particularly on the Senate Banking Committee, which I think is the most important voice on the subject to begin moving forward," said MBA President and CEO David Stevens, CMB.

Banks Remain Stingy With Construction Dollars

National Real Estate Investor, Nov. 1, 2017--Beth Mattson-Teig
Over the past two years, banks wary of taking on construction risk have lowered leverage, increased rates and applied more conservative underwriting.

Trump to Tap Fed's Jerome Powell for Fed Chairman

Wall Street Journal, Nov. 1, 2017--Kate Davidson, Peter Nicholas, David Harrison (subscription)
The White House has notified Federal Reserve governor Jerome Powell that President Donald Trump intends to nominate him as the next chairman of the central bank.

GOP Rep. Jeb Hensarling to Retire After End of Current Term

The Hill, Oct. 31, 2017--Sylvan Lane
Hensarling, R-Texas, chairman of the House Financial Services Committee, will be forced to step down after three terms leading the panel due to GOP rules.

Rent Growth Slows Down in the SFR Sector

National Real Estate Investor, Oct. 30, 2017--Bendix Anderson
While owners of single-family rental properties are still raising rents, they are not doing so as quickly as they had over the last few years.

Rent Is Eating Up a Record Share of Americans' Disposable Income

Bloomberg, Oct. 30, 2017--Matthew Boesler
If it feels like the rent keeps going up, you're not alone: The share of U.S. disposable income that went toward such spending totaled 3.81 percent in the third quarter, marking the highest share in data going back almost six decades.

Mall Owners Work to Reclaim Retail Wasteland With Public Money

Bloomberg, Oct. 30, 2017--Sarah Mulholland
To draw consumers with experiences they can't find online, retail-property owners are slashing the amount of space dedicated to stores and are spending on everything from hotels and apartments to upscale restaurants and skating rinks.

Rising Rents Are Pushing More Tenants Past the Breaking Point

Bloomberg, Oct. 26, 2017--Patrick Clark
Rents have increased rapidly across U.S. housing markets as the share of renting households has risen faster than the number of new units. Now, in a survey published Thursday by an apartment-listing service, nearly one in five respondents reports struggling to make the monthly payments.

News and Trends

 
MBA Forecasts Commercial/Multifamily Originations Flat in 2018

Commercial and multifamily mortgage originations should increase in 2017 to end the year at $515 billion--up 5 percent from 2016--the Mortgage Bankers Association projected. Volumes should remain at roughly that level in 2018 as well.

El-Erian Looks Ahead in an 'Uncertain' World

DENVER--Business people need resilience and optionality to succeed in the current "uncertain" world, said Mohamed El-Erian, Chief Economic Advisor with Allianz, Munich, Germany at the recent Mortgage Bankers Association's Annual Convention & Expo.

NNNet Advisors: Squeeze on Net Lease Investors Continues

Cap rate compression in the single-tenant net lease sector continued in the third quarter as both median and average cap rates reached record lows, reported NNNet Advisors, Los Angeles.

Hotel Pipeline Grows, Daily Rate Growth Slows

U.S. hotel rooms under construction grew 5.7 percent on a yearly basis through September, reported STR, Hendersonville, Tenn.

Freddie Mac Finds 'Widening' Affordable Rental Shortfall

The already-acute shortfall of affordable rental apartments has widened "considerably" over the past six years, said Freddie Mac, McLean, Va.

Coldwell Banker: Room to Improve Office Space

As employers seek to define the workplace perks most likely to attract and retain employees, Coldwell Banker Commercial Affiliates, Madison, N.J., said the physical office itself could keep staff happier.

New York, Los Angeles Among World's Largest Investment Markets

Tokyo, New York and Los Angeles represent the world's largest commercial real estate investment markets, with the global stock of investable assets standing at $27.5 trillion, reported CBRE and Cushman & Wakefield.

People in the News

 
Carlton Fields Adds Structured Finance Securities Specialist Doll

Former Kroll Bond Rating Agency Managing Director Troy Doll joined Carlton Fields' New York office as a finance attorney. He is a member of the firm's Real Estate and Commercial Finance practice group.

Dealmaker of the Week

 
WeWork To Acquire Lord & Taylor Manhattan Flagship for $850M

Office-sharing startup WeWork, New York, agreed to acquire Lord & Taylor's flagship retail store on Manhattan's Fifth Avenue for $850 million.

MBA News

 
CREF18 in San Diego Feb. 11-14

The Mortgage Bankers Association's Commercial Real Estate Finance/Multifamily Housing Convention & Expo 2018 returns to San Diego Feb. 11-14.

MBA Accounting/Financial Management Conference Nov. 13-15

The Mortgage Bankers Association's Accounting/Financial Management Conference 2017 takes place Nov. 13-15 at the Grand Hyatt San Antonio.

Taking Applications Until Nov. 20: MBA Education C/MF Future Leaders

MBA Education is taking applications for its Commercial/Multifamily Future Leaders Program, an executive leadership development program that delivers a comprehensive curriculum for selected managers who have shown leadership abilities.

MBA Summit on Diversity and Inclusion Dec. 4-5

The Mortgage Bankers Association's annual Summit on Diversity & Inclusion takes place Dec. 4-5 at the Capital Hilton in Washington, D.C.

MBA Education Multifamily Property Inspection Workshop in Atlanta Mar. 21-22

MBA Education presents its popular Multifamily Property Inspection Workshop in Atlanta March 21 and 22, 2018.

About MBA Newslink

President and CEO: Robert Broeksmit, CMB

Publisher: Marcia Davies, Chief Operating Officer

Vice President of Public Affairs: John Mechem jmechem@mba.org

Editor: Mike Sorohan 202/557-2855 msorohan@mba.org 

Editorial Director: Michael Tucker 202/557-2851 mtucker@mba.org 

Senior Editorial/Advertising Specialist: Lesley Hall 202/557-2856 lhall@mba.org

Advertising Opportunities: Bill Farmakis 203/834-8832 bill@jlfarmakis.com

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One Voice. One Vision. One Resource. The Mortgage Bankers Association (MBA) is the national association representing the entire real estate finance industry. For more information visit us at mba.org.