The Biggest Landlords of Single-Family Rental Houses and Multifamily Apartments: Who Owns the US Housing Stock? by Wolf Richter • Apr 9, 2024 • 170 Comments 80% of single-family rentals are mom-and-pop; mega-landlords own just 3%. But mega-landlords dominate multifamily rentals.
Office CRE Mess Keeps Getting Worse, Massive Repricing Underway by Wolf Richter • Apr 1, 2024 • 95 Comments It’ll take years to get this mess cleaned up, at the expense of investors, landlords, and banks.
Who’s on the Hook for Multifamily CRE Mortgages? #1 Taxpayers, far ahead of #2 Banks by Wolf Richter • Mar 18, 2024 • 94 Comments Another reason why the Fed can let the CRE swoon rip.
Some of the 49 Small Banks Heavily Exposed to Bad Multifamily CRE Loans May Topple, but their Size Limits Contagion: Fitch by Wolf Richter • Feb 19, 2024 • 92 Comments Multifamily lending ballooned 32% from early 2020, powered by low interest rates and soaring rents. Now there’s a price to pay.
CRE Loans Coming Due in 2024 Balloon by 41%, to $929 Billion, as Loans that Matured in 2023 Weren’t Paid Off but Extended by Wolf Richter • Feb 12, 2024 • 92 Comments Extend and pretend kicks into high gear. For example, the $975 million mortgage on a San Francisco office tower.
Even Banks in Asia-Pacific (APAC) on the Hook for US Office CRE: Fitch by Wolf Richter • Feb 12, 2024 • 64 Comments That’s what “spread far and wide” means. During the US CRE bubble, yield-chasers not just in the US but globally gorged on invincible US CRE.
US Office CRE Mess Is Spread Far and Wide across Investors & Banks Globally. US Banks Eat only a Portion of the Losses by Wolf Richter • Feb 5, 2024 • 93 Comments Japanese, Canadian, and European banks started to confess. And for over a year, huge losses have hit investors, not banks.
Eyepopping Factory Construction Boom in the US: Chip Makers on Forefront, but CHIPS Act Funds Not Even Released Yet by Wolf Richter • Feb 3, 2024 • 83 Comments Supply-chain chaos, edgy US-China relations, and scary dependence on China triggered a rethink, now showing up as investments in manufacturing plants.
Office CRE Gets Even Messier: Aftermath of “The War for Space” by Wolf Richter • Jan 14, 2024 • 182 Comments How this mess came about is actually kind of funny, in a costly way.
Residential Construction Gains Steam, Single-Family Starts Jump, Highest since Spring 2022, Multi-Family Rises from Ashes by Wolf Richter • Dec 19, 2023 • 88 Comments Homebuilders and developers adjusted to new reality of higher rates, growth back on track, for single-family since February, for multifamily since August.