House Flipper Zillow Seeks to Dump 7,000 Houses to Big Investors after Reports it Overpaid: Buy High, Sell Low, Take “One-Time Noncash Charge?” by Wolf Richter • Nov 1, 2021 • 187 Comments How Zillow helped whip house prices higher and got caught with its pants down (AI = artificial idiocy?).
The Mess of China’s Over-Leveraged Property Developers Spills into California by Wolf Richter • Oct 31, 2021 • 114 Comments Stiffed creditors in China and Singapore seized the halted construction mega-ulcer in San Francisco, the Oceanwide Center.
Why Walgreens is in Trouble in San Francisco and is Closing Some Stores: It’s Not Shoplifting, that’s an Artful Distraction from the Real Reasons by Wolf Richter • Oct 23, 2021 • 234 Comments Caught up in the brick-and-mortar meltdown, it faces its own botched decisions and a market that has horribly turned against its pharmacies.
Apartment Conversions from Old Office Buildings, Hotels, Factories: The Numbers by Wolf Richter • Oct 11, 2021 • 84 Comments A costly slow process that gives some buildings a second life.
Office Slump Gets Even Uglier in Q3: Houston, San Francisco, Los Angeles, Chicago, Washington DC, Seattle, Manhattan by Wolf Richter • Oct 4, 2021 • 77 Comments But tenants have choices and negotiating power.
Red-Hot Rents to Fire Up CPI Inflation Just When “Temporary” Is Supposed to Unwind It by Wolf Richter • Sep 27, 2021 • 142 Comments Asking rents spiked 10%-25% in half the cities. Rents fell in only a few, incl. -25% in San Francisco from 2019 peak.
THE WOLF STREET REPORT: What a Collapse of China’s Evergrande Would Mean by Wolf Richter • Sep 12, 2021 • 162 Comments China hasn’t bailed out its over-indebted property developers yet, to the shock of foreign investors who’d bought their dollar bonds. Could the forced deleveraging trigger a financial crisis?
End of the Era of Voracious Corporate Appetite for Office Space by Wolf Richter • Aug 24, 2021 • 128 Comments Formerly temporary, now persistent work-from-home turns into slow-motion nightmare for office landlords.
AMC Sold Three Times More Shares than Movie Tickets in Q2, Revenues Down 70% from Q2 2019, as Business Model Collapsed by Wolf Richter • Aug 9, 2021 • 95 Comments It should just forget about selling movie tickets, and stick to selling its shares to future meme-stock billionaires.
Creditors Foreclose on Another Mall of Simon Property Group, Face Massive Loss by Wolf Richter • Jul 21, 2021 • 147 Comments As largest mall landlord in the US sheds its malls, CMBS holders, such as bond funds and pension funds, take the losses.
