News

Landmark Links January 31st – Equilibrium

Lead Story…. Over the past couple of weeks, I’ve written about how a lot of capital available in the home building and development market today is a poor fit for where we are in the cycle.  I ended January 20th’s post that dealt with a lack of horizontal debt financing currently in the market by making a point […]

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Landmark Links January 27th – Growing Pains

Lead Story… They say that a picture is worth a thousand words.  IMO, if that’s true, a good chart is worth at least 2,000.  The following chart, which I found on Calculated Risk was the basis for one of the main themes on the blog last year: the aging of the Millennial generation and it’s impact on […]

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Landmark Links January 24th – Bad Development

Lead Story… Some not-so-great-for-housing news over the past week or so, especially as it pertains to first time buyers.  One of the first things that the Trump Administration did after taking office was to suspended the previously announced FHA insurance premium cut that were due to take effect this year.  The cut would have resulted in a payment reduction of […]

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Landmark Links January 20th – Standoff

Lead Story…. There is no task in real estate finance today more difficult than securing a horizontal development loan.  Home builder acquisition, development and construction loans have become quite a bit easier to find over the past couple of years, assuming that a builder has decent financials and is willing to sign a guarantee (non-recourse is a […]

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Landmark Links January 17th – Its All Relative

Lead Story….. Just last week, I had lunch with an old friend/investor client of ours.  This is a person who has invested in dozens of small builder/developer equity deals (mostly residential but some commercial as well) in the current cycle.  The topics of recent deals and investment outlook for 2017 were discussed in depth.  There was one […]

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Landmark Links January 13th – Divergence

Lead Story… I’ve been writing about the inherent conflict in the housing market between economic growth and rising interest rates for a while now.  Today, I want to focus on an important divergence that is occuring.  This is the situation that we currently find ourselves in: Generally speaking it takes accelerating economic growth to, spur growth […]

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Landmark Links January 10th – Back in the Saddle

Happy new year to all of you.  Landmark Links is back after a much needed rest! Lead Story… Over the past few years it’s become an annual rite of passage for various talking heads/economists/pundits/etc to make bold predictions that interest rates will rise in the coming year.  In years past, this has been strictly a […]

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