LexMonitor

Real Estate Investment Opening Up to Chinese Investors

The WSJ reports that Chinese regulators have authored a law that would give Chinese insurers greater freedom to invest in commercial real estate. This change in investment rules is included in a revision to the insurance law making its way through Chine's legislature and could go into effect as...

REIT’s AND SENIOR HOUSING NOW MORE COMPATIBLE

Prior to the enactment last month of the Housing Assistance Tax Act of 2008 (the “Act”) (for a detailed explanation of the Act, you can go to http://thomas.loc.gov/cgi-bin/bdquery/z?d110:HR03221:@@@D&summ2=m&), a real estate investment trust (a “REIT”) could not in a tax-efficient manner der...

The saying in Washington goes the federal government works in two ways; inaction and over-reaction

The long awaited housing bill has been enacted H.R. 3221, the Housing and Economic Recovery Act (HERA) http://frwebgate.access.gpo.gov/cgi-bin/getdoc.cgi?dbname=110_cong_bills&docid=f:h3221enr.txt.pdf is in reaction to the inaction of the federal government in the run up to the subprime housing...

On August 13, the US Attorney for the Southern District of New York filed suit against AvalonBay Communities and other development partners in Avalon Chrystie Place, a mixed-use property in Lower Manhattan which opened in 2005. At issue in the litigation are the requirements of the 1991 Fair...

Looking for Bad News

I opened the newspaper this morning to again find more bad news about Fannie and Freddie, not that it came as a surprise. The New York Times is reporting that a government bailout of the mortgage giants is virtually...

EXPLOSIVE POPULATION GROWTH CERTAIN TO AFFECT MULTIFAMILY INDUSTRY

The U.S. Census Bureau recently released projections that the U.S. population will rise from just over 300 million today to 439 million by 2050. The effect is akin to adding 17 additional New York Cities. It has been estimated that in addition to the 36,000 new schools and transportation...

Freddie and Fannie – the Bright Spots

In the face of today’s depressing economic conditions, there are fewer and fewer options for even the most qualified real estate borrowers to finding financing for their deals. At a recent real estate event that I attended in the DC Metropolitan area, I was intrigued (and agitated) to hear a top l...

Senior Housing

As baby boomers start to reach retirement age, it is becoming increasingly important to establish the proper housing to support this enormous generation. Indeed, the senior population is on track to double between 2010 and 2030, and by this latter date, about one in five Americans will be at least...

Foreclosure Crisis --- What Effect on Apartment Renters?

Each day we hear more sad stories about people who have lost their homes to foreclosure. The statistics are staggering: for example, just this morning NPR reported that 1 in 25 homes in Stockton, CA are in foreclosure.Needless to say, property managers have been keenly interested in how many new...

Housing Rescue Bill – What about the Multifamily Sector?

On Saturday, July 26, 2008, Congress approved legislation that is intended to rescue the failing housing market by setting up a $300-billion fund to help hundreds of thousands of homeowners facing foreclosure. http://www.reuters.com/article/ousiv/idUSN2141192720080728. The bill also grants broad...