More Americans Leave Expensive Metro Areas for Affordable Ones

Americans are leaving the costliest metro areas for more affordable parts of the country at a faster rate than they are being replaced, according to an analysis of census data, reflecting the impact of housing costs on domestic migration patterns. Those mostly likely to move from expensive to inexpensive metro areas were at the lower […]

Manhattan Apartment Sales Plunge 20%

There are a lot more apartments available for purchase these days in Manhattan. And fewer people are buying. Sales of previously owned condominiums and co-ops fell 20 percent in the third quarter from a year earlier as potential buyers grew cautious amid more choices, according to a report Tuesday from appraiser Miller Samuel Inc. and […]

Some Big U.S. Cities See Apartment Rents Fall for First Time in Years

Apartment rents declined in some of the country’s priciest cities during the third quarter, a dramatic reversal that could signal the end of a six-year boom for the U.S. rental market. Rents in San Francisco declined 3%, while they fell about 1% in New York and edged lower in Houston and San Jose, Calif., the […]

Global property investment falls for first time in 7 years

Global property investment volumes have fallen for the first time in seven years as investors retreated from mounting international risks. Roughly $919.7bn was committed to property globally in the year to the end of June, excluding development land — 5.7 per cent below the total a year earlier, according to Cushman & Wakefield, the property […]

In San Francisco, Alarm Over a Leaning Luxury Condo Tower

The luxury condo tower rises above one of the city’s trendiest downtown neighborhoods in 58 gleaming stories, minus about 16 inches of its original height and tilting slightly northwest. The Millennium Tower, opened in 2009 as the city’s tallest residential structure, has a new nickname: “the leaning tower of San Francisco.” The Millennium is sinking […]

U.S. Households Make Long-Awaited Gains in Housing Recovery

Middle-class families are starting to see their biggest housing challenges ease. Housing affordability is finally improving after years during which the struggle to pay rent swelled to crisis levels for many poor and middle-class Americans, according to an analysis of American Community Survey data released Thursday. Jed Kolko, chief economist at job-site Indeed and senior fellow at the Terner Center […]

US Commercial Real Estate and Office Markets Are Sinking Again

A year and a half ago, I wrote an in-depth article showing why the so-called recovery in the commercial office market was only an illusion. Wall Street and the pundits continued to proclaim the strengthening of the office market. For example, the chief economist of the highly respected data firm, Reis, declared last October that in spite […]