Turmoil over subprime lending in the single-family home market is taking a toll on mortgage real estate investment trusts. Through June 19 of this year, the mortgage REIT industry posted a total return of negative 13.40%, a huge swing from the 19.32% return posted for all of 2006, according to the National Association of Real Estate Investment Trusts (NAREIT).
The battle lines have been drawn in Congress over the federal budget for fiscal year 2007, which officially begins Oct. 1. Some industry experts fear casualties of the standoff will be bedrock tax breaks for the commercial real estate industry
Two events have put the issue of mold right back in the spotlight again. The first was the January publication of an article calling into question two scientific studies heavily relied on by defendants in mold cases. The second is the expected introduction of new mold legislation in Congress.
Donald Trump has notified some early condo buyers in his 92-story Chicago condo-hotel project that their sales are null and void, claiming that any windfall from an increase in value while the project is under construction should go to him.
The November elections shook Washington, D.C. because they caused the first power shift in more than a decade. Less noticed but equally seismic was the fact that voters in state after state rejected laissez-faire federal rules on the use of government power to seize private property for development.
Two efforts by banks to create a bigger footprint in real estate have met strong resistance, but the fight is far from over. If banks are successful, they'll be competing with brokerage, management, and development firms.