Corporate News
Senator Investment Group and Cannae Holdings offered to take over CoreLogic for $7 billion to help the company reach its full potential, which they feel will not be achieved under CoreLogic's current strategic plan.
Jonathan Litt Maintains Views on New York Market
Hedge fund activist Jonathan Litt maintained he is still betting against empire State Building Realty Trust, Vornado Realty Trust, and S.L. Green Realty. He cited accelerating migration caused by the pandemic and tax cuts as the main reason for shorting these big-name landlords.
Zillow Group Helps Colombian-Based Real Estate Startup Raise $10M
La Haus, a Colombian-based real estate startup, has raised $10 million in Series A funding led by Zillow Group's co-founder Spencer Rascoff and Trulia co-founder Pete Flint.
Google Announces Updates to Housing, Employment, and Credit Advertising Policies
Google announced changes to its Google Ads policies that will prohibit the impacted advertisers from targeting or making exclusions in their ads based on age, gender, marital status, parental status, or ZIP Code.
Commercial Real Estate
Vornado Looking to Sell Property Co-Owned by Trump Organization
New York-based Vornado Realty Trust revealed their intent to sell its 70 percent stake in the two office towers - one in San Francisco and another in Manhattan. Whether the Trump Organization will also sell its 30 percent ownership in these properties remains to be seen.
Asset Management Company Says That Demand for Office Spaces Will Rise Under New Normal
While many are quick to predict that the office space demand will suffer a decline, Brookfield Asset Management Inc. sees a demand for more office space to accommodate employees returning to work while observing social distancing.
Walt Disney Co. Indefinitely Delays California Reopening
Walt Disney Co. announced that it would indefinitely delay the reopening of its theme parks in Anaheim, California. The decision comes after a coalition of 17,000 Disneyland-area resort workers, and representative unions asked Governor Gavin Newsom to disapprove the reopening plans as COVID-19 cases rise in California.
Real Estate Surveys and Statistics
Real Estate Is Still America's Favorite Long-Term Investment
For seven straight years, real estate has remained America's favorite long-term investment, followed by stocks or mutual funds, savings accounts, and gold, the Gallup survey revealed.
U.S. House Prices Seen to Grow Post-Pandemic
A poll of more than 40 housing strategist from June 9-19, showed that experts are still optimistic that house prices will jump 3.0 percent this year despite the economic uncertainties brought by the pandemic.
U.S. Luxury Residences Bounce Back as Demand Shifts to Locales Outside NYC's Five Boroughs
The luxury housing market in the U.S. rebounded in May, according to Realtor.com. Prospective buyers, however, are shifting their focus on locations outside New York.
While locales are wanting to move out of New York, foreign investor interest in N.Y. real estate is growing while new listings and contract activity rise as the city entered phase 2 of its reopening.
Buyer and Builder Confidence Back as U.S. Economy Reopens
Housing starts surged 4.3 percent in May, according to the U.S. Census Bureau, and U.S. Housing and Urban Development data, which is seen as a sign that buyer and builders confidence has returned as the U.S. reopens its economy.
Latest Report: There Are Still Pandemic-Priced Homes For Sale
The housing market in the U.S. is showing signs of recovery, but despite growing demand and low inventory that push prices up, there are still homes that priced lower than market levels, the Weiss Analytics study found out.
Survey Says Almost 65% of U.S. Households Are Confident They Can Pay Mortgage in June
A majority of the U.S. households surveyed by the U.S. Census Bureau said that they are confident about being able to pay their home loan obligations in June.
Some Buyers, Sellers Want Reassurances First Before They Participate in Open Houses Again
While 65 percent of consumers are eager to attend an open house without hesitation, the rest want specific reassurance from authorities first, according to the "Back to Normal Barometer" survey.
It's Another All-Time Low for Mortgage Rates, but Refinancing Activity Remains Uneventful
Mortgage Rates further declined to another all-time low for the week ending May 28, 2020, the third time the record was broken in the last few months.
Demand for High-End Warehouse Spaces Rise Amid Coronavirus Pandemic
As the coronavirus pandemic disrupts the supply chain, demand for warehouse space is seen to rise to enable onsite inventory or moving inventory close to population centers.
Millennials May Have to Wait Longer for Their Dream Home Due to Pandemic
A Realtor.com study on the impact of the pandemic on millennials saving up for their dream home revealed that it could take up to nine months for an average millennial to recover a month's expenses taken out of their hard-earned downpayment savings.
