In Case You Missed It: Week of September 17
These large metros are growing the fastest; Fannie Mae reports on a rebounding economy; Fed votes to keep interest rates unchanged; private capital ramps up lending; and more in this weekly roundup of multifamily news items.
Fed Decision Means “More of the Same” for CRE Investors
National Real Estate Investor – September 21, 2016
“The Federal Reserve voted 7-3 to keep interest rates at their current level at its September meeting, citing a steady unemployment rate and inflation that is still running below the 2.0 percent mark it has predicted.”
Small Banks Are the New Property Titans
Bloomberg – September 20, 2016
“Local and regional banks, chasing higher-yielding investments, have ramped up lending to commercial real estate developers. While they’re filling the gap left by a decline in commercial mortgage-backed securities offerings — until recently the main funding source for commercial real estate — the opportunity is also risky for the smaller players.”
These large metros are seeing the fastest growth
CNBC – September 20, 2016
“The numbers show that economies of most major American metro areas have fully recovered, but many smaller cities are still struggling to shake off the lingering impact of the Great Recession.”
Expiration of Visa Program Nears
The Wall Street Journal – September 20, 2016
“A key provision of the EB-5 program, which gives permanent U.S. residency to foreigners who invest at least $500,000 in certain businesses, is due to lapse Sept. 30, although Congress on Tuesday appeared to be ready to give it a short-term extension until after the presidential election.”
Money Is Pouring Into Property Deals Banks Won’t Touch
Bloomberg – September 19, 2016
“Heightened scrutiny of U.S. commercial real estate lending is paving the way for lightly regulated investors to gain a bigger toehold in lucrative deals.”
Economic Growth on the Upswing, With a Few Emerging Soft Spots
Fannie Mae – September 19, 2016
“Economic growth is poised to accelerate to 2.6 percent in the second half of the year, a rebound from the lackluster growth of 1.0 percent in the first half of 2016, according to Fannie Mae’s Economic & Strategic Research Group’s September 2016 Economic and Housing Outlook.”