So cal multifamily broker

When is the Yield Curve Finally Going to Normalize?
As of Friday, the 10-year was still 130 basis points behind the three-month but only 24 behind the 2-year.

Fed Stays Steady but Multifamily Cap Rates Keep Climbing
But CBRE expects things to start unwinding when the Federal Reserve cuts interest rates.

Underwriting Metrics Improve for Prime Multifamily
Unlevered IRR targets, going-in cap rates and exit cap rates all experienced a slight increase in Q4. 

Bank Credit Is Shrinking For The First Time Since The Great Recession - And That's A Red Flag For The Economy
That means businesses are borrowing less, as high interest rates chip away at confidence levels.

Oddball Inflation Drivers Undermining Rate Drops
The Fed will continue to pay close attention to price data and might interpret it differently from markets and investors.

Recession Chance Less Than 50%, Economists Say
Business conditions show ‘broad improvement,' according to the National Association for Business Economics.

Lenders Believe Real Estate Most Prone to Distress This Year
Meanwhile many are convinced inflation has been tamed.

Number of Offices Converted to Apartments Spikes
RentCafe said the number of units increased four-fold from 2021 to 2024.

Home Sales Data Presents Mixed View of Market
One thing is clear: the recent, rapid three-year rise in home prices is unsustainable

Fed Won't Start Rate Cuts Until May, Traders Now Bet
Just a week ago the probability of an interest-rate cut in March from the current range of 5.25%-5.5% was seen at nearly 80%, reflecting faster-than-expected declines in inflation.

One Multifamily Analyst Looks Forward to a Shift in Fundamentals
Also sentiment about multifamily debt has turned positive for the first time in 10 quarters.

Apartment Starts Fall 9.5%
Permits for apartments in buildings with five or more units dropped 26.6% in December, showing the continued obstacles developers face with financing.

L.A.’s Multifamily Market Slammed the Brakes in 2023
City’s added transfer tax and higher borrowing costs dragged on investment demand while a wave in construction drove up vacancies

MBA Forecasts 29% Rise in CRE Loan Volume for 2024
Total commercial and multifamily mortgage borrowing and lending is expected to rise to $576 billion in 2024, a 29% increase from 2023’s estimated total of $444 billion.

Commercial Real Estate And Bank Conduct Risk: The Next Domino?
The commercial real estate markets are hurting. Normally, a slide like this wouldn't pose a threat to the financial system, but the current circumstances could make it different.

With Commercial Real Estate Set For Another Tough Year, Some Small Banks Are Worried
Things haven’t been easy for the commercial real estate sector over the last few years. Recently, a lot of companies have been downsizing their office footprint and letting go of bigger leases.

CRE Distress Accelerated in 2023’s Second Half 
The pace of loans being added to the servicer watchlist was roughly 110% faster compared to the first six months of the year. 

BlackRock: Now Is the Time to Invest in CRE
Investments after a crisis tend to perform well and 2024 may fall in that category.

CRE Loan Modifications Jumped in 2023
That’s at least with loans when someone can tell from the outside. The number are likely larger.

Mortgage Applications Hit 9-Month High, 8% Up
Home buyers moved to act early this season before spring surge

Economists Increasingly Sure US Will Avoid Recession: NABE Survey
Some 91% of respondents to the latest NABE survey, published on Monday, assigned a probability of 50% or less to the U.S. entering a recession over the next 12 months.

US Commercial Real Estate Is Suffering One Of The Steepest Price Declines In At Least Half A Century, IMF Warns
Property-price gains notched in the prior two years have completely disappeared. 

2023 CRE Deal Volume Down 51% from 2022
That’s a 51% drop compared with 2022 and also 14% lower than in 2020, when prospective buyers couldn’t view buildings for most of the year because of COVID-19 lockdowns.

Investors Temper US Rate Cut Bets As Fed Meeting Looms
A strong U.S. economy and pushback from central bank officials is leading some investors to rethink their bets on how quickly the Federal Reserve will cut rates this year.

Apartment Owners Report Surge In Rental Application Fraud
More than 70% of major apartment landlords say they have seen an increase in fraudulent rental applications over the past 12 months.

Multifamily Capital Activity to Pick Up This Year
Lending and borrowing in 2024 will still not match 2017 levels

Apartments are Unaffordable for Half of US Renters
In addition, 12.1 million renters are paying more than 50% on housing.

Distress Levels Hit $85.8B in 2023
But potential distress is far worse — as much as $234.6 billion.

There's a Reason Why 2023 Felt Like the Global Financial Crisis
Even so, things aren’t as bleak as the change from 2022 might suggest.

SEC Seeks More Clarity on CRE Loan Exposure 
Potential losses on the loans could spur them to further cut lending.