A housing crisis is raging across the United States. For decades, young professionals have been steadily migrating into the once inert urban submarkets of major cities like New York, Los Angeles and San Francisco among many others. A positive feedback loop formed between the influx of highly-educated workers and the concentration of corporate investment and job opportunities in these areas. Over the course of this past decade,
this feedback loop has heated both renter and owner housing markets. Between 40% and 50% of residents in these key markets have become cost-burdened – spending more than over 30% of their pre-tax household income on rent. Click to read more at www.rednews.com.
Retail is no longer just about what people buy – today the focus is also on how they buy. While e-commerce has proven to be a formidable challenger to traditional retailing, brick-and-mortar is rising to the challenge. The key to success for real estate professionals will be understanding changing elements tied to physical stores, from lease terms to sales metrics to build-out options. It will also require the ability to understand the technology and, most importantly, the changing preferences of American shoppers. Twenty years ago, when you wanted to buy something, you had to go to the store – it wasn’t a choice, it was an obligation,” says Melina Cordero, global head of retail research at CBRE. “But today, the store is no longer an obligation; it’s a choice. We can choose to buy online as well as in the stores. In addition, we have more choices than ever about where and from whom we buy.” Click to read more at www.ccim.com.
What are some of the best resources for starting to raise capital as an emerging RE developer? Often times people start with friends and family in country club deals but I was wondering what institutions back smaller deals for small RE developers (if any at all). Click to read more at www.wallstreetoasis.com.
It’s been more than 40 years since I graduated high school — and a lot has changed since then. I’m older, wiser, wealthier and much more successful. I’ve built a multimillion-dollar business and am the CEO of seven privately held companies. But there’s always room for improvement — even at age 61. In order to do that, it’s important to acknowledge past failures and learn from them. Looking back at my 20s, there was so much I didn’t know about money. With what little I earned, I wasted on useless things that didn’t benefit me at all. Here are the top four things I regret spending my time and money on:
1. Drugs and alcohol. If I could go back in time, I’d tell my younger self: “Your education doesn’t stop after college.” Click to read more at www.cnbc.com.
On a stroll or a spin down the Heights Hike and Bike Trail, you might not notice a complete transformation is imminent. The MKT — a mixed-use renovation and build out the project — is getting ready to break ground. The five-building, 200,000-square-foot project will bring 30 retail and restaurant concepts, and 100,000 square feet of office space together along with four acres of green space, parking, and an outdoor venue alongside 1,000 linear feet of the trail between North Shepherd Drive and Herkimer Street. The MKT name comes from the Missouri-Kansas-Texas railroad — later known as the Katy Railroad — that was transformed into the Heights Hike and Bike Trail. MKT is a joint partnership between Houston-based Radom Capital, which is behind Heights Mercantile down the street, and Triten Real Estate Partners with capital partner, Long Wharf. The architect behind the project is Austin-based Michael Hsu Office of Architecture. Shop Companies is doing the retail leasing, and JLL’s Houston office is coordinating the office leasing space. Click to read more at www.houston.innovationmap.com.
Amid the stock market volatility fueled by the drama of U.S.-China trade negotiations, real-estate stocks and ETFs beckon investors as a relatively safe haven. The Vanguard Real Estate ETF (VNQ +0.9%) has risen 16% YTD, outperforming the S&P 500’s 13% increase during the same time period; and in the past month, the ETF is up 1.3% while the S&P 500 has declined 2.2%. Click to read more at www.seekingalpha.com.