PARR’s Post

Three key themes and takeaways from the University of Michigan - Stephen M. Ross School of Business 2024 ReCon: 1. Economic activity and centers have shifted away from traditional city epicenters. Demand from residents, office users, and retails has shifted from traditional city cores and downtowns to new districts and neighborhoods. e.g. Fulton Market in Chicago, Wynwood in Miami, South End in Charlotte, and the Arts District in LA. Expect this trend and demand to continue. 2. The best performing asset class over the next ten years is going to be…retail! Per CBRE’s Spencer Levy, retail (specifically unanchored non-grocery) has been unfavored by institutions and is prime for a serious rebound. No new building and strong occupancy only help prove out this thesis. 3. Affordable housing solutions start at SUPPLY! All policies, regulations, subsidies, and zoning need to confirm to support the creation of new housing - both market rate and Affordable - in order to work towards a solution for the greater housing crisis. Overall, lots of cautious optimism, encouraging commentary, and fundamental believe in real estate as an alternative asset class. Weiser Center for Real Estate Michigan Real Estate Club CBRE #development #investment #housing

In this national report, we delve into the current landscape of Australia’s housing market, with a particular focus on unit affordability across major cities and regions. Our analysis pinpoints the varying levels of accessibility in unit pricing, highlighting where prospective buyers can still find units for under $500,000. This comprehensive price segmentation analysis across cities such as Sydney, Melbourne, Brisbane, Adelaide, Perth, Hobart, Darwin and the Australian Capital Territory reveals significant disparities in the availability of affordable units, reflecting broader economic trends and local market conditions. #suburbtrends

I found a headline from earlier this year, "Housing is a Sleeper Issue of the 2024 Campaign," somewhat ironic as housing is very much a forefront issue in every one of our communities and personal lives. This is why I'm excited to moderate Bellevue Downtown Association's upcoming breakfast series panel covering various housing topics, including Bellevue's Market Dynamics & Risks, Lifestyle Trends, Affordability & Market Competitiveness, and Legislative Landscape with Patrick Bannon, Zoe Ramirez, Emil King, and Ryan Makinster. Registration link here - https://lnkd.in/g_YA2mA2 #multifamily #cushwake #attainablehousing #assetmanagement

Ubiquitous sea view at the end of another Brighton conference. It was great to meet up with so many partners and colleagues, and future partners and colleagues, to learn what is happening across the sector and to talk about what we are doing at Hyde with our investment and partnership activity, to grow Hyde through local authority relationships, institutional clients, and other partners. So as the sun sets on another #housingbrighton the key takeaways for me are: 🛠️ Skills are a perennial problem and the London Homes Coalition will be making the case and identifying solutions for who is going to build the homes we need. 🏛️ The Bank of England stress test on affordability has helped prevent boom and bust but can create a barrier for entry to First Time Buyers due to enhanced income cover requirements. 🔑 Shared Ownership can be the answer to the BoE affordability test and is affordable to more buyers and than open market, but needs a better explanation of terms to consumers and lawmakers. 🏘️ We should build a higher density of homes - more 2&3 bed over 4&5 bed will help housing affordability by providing more homes people on average incomes can buy. 🔋 Devolution of funding and policy responsibilities can empower local/regional government to do more, its noticeable this isn’t happening in the south east (outside London). I look forward to seeing new faces and some of the same faces in a couple of weeks at #UKREiiF in Leeds.

Greystar ranked 3rd in the housing category and 6th overall in the 2024 Building H Index! The Index ranks 75 popular products and services in the entertainment, food, housing, and transportation industries on the influences that they have on the health of their users. Read more about the rankings here: https://bit.ly/4h2VBYW #BuildingHIndex #HealthImpact 

Dr Kev's Weekly Update: What a year it has been! As we are approaching the end of the financial year, it is time to reflect on the developments of the property market in the past years. Despite a more challenging environment with a higher than average cash rate and increased cost of living pressure, the market has weathered strongly in the past 12 months, with dwelling prices increasing by 22% in Perth, 16% in Brisbane and 15% in Adelaide. The remaining capital cities experienced far less growth with 7.4% in Sydney; 1.8% in Melbourne, 3.5% in Darwin, 2% in Canberra and –0.1% in Hobart. In total, 503,000 properties with a total value of $452 billion were transacted and the national value of dwellings increased to $10.7 trillion. Across the nation rental prices have increased by 8.5%, which is driven by housing shortages with national vacancy rate sitting at 1%. Many cities are below 1% such as Perth and Adelaide at 0.5% and Brisbane at 1%. A balanced rental market has a vacancy rate of 2-3%. Moving forwards, the imbalance between demand and supply will be one of the main drivers of price growth. To this end, Adelaide, Perth and Brisbane would continue to lead the board, while Melbourne and Canberra are expected to gain momentum in the next financial year thanks to their affordability and strong economies. Source and graph: CoreLogic #inSynergy #inSynergyAdvisory #Data #Economy #HousingMarket #PriceGrowth #CapitalGain

Top 20 Wealthiest U.S. Cities per Capita Sorted by Growth 1. Paradise Valley, AZ – High growth, $2.1M 2. Fisher Island, FL – High growth, $3.0M 3. Pinecrest, FL – High growth, $1.5M 4. Highland Park, TX – High growth, $2.2M 5. Cherry Hills Village, CO – Mod growth, $3.5M 6. Beverly Hills, CA – Mod growth, $2.5M 7. Palm Beach, FL – Mod growth, $2.9M 8. Alamo, CA – Mod growth, $1.9M 9. Portola Valley, CA – Mod growth, $2.0M 10. Los Altos Hills, CA – Mod growth, $3.3M 11. Atherton, CA – Mod growth, $7.0M 12. Scarsdale, NY – Slw growth, $4.0M 13. Greenwich, CT – Slw growth, $2.8M 14. Darien, CT – Slw growth, $1.8M 15. Weston, MA – Stable, $2.4M 16. Short Hills, NJ – Stable, $2.3M 17. Belle Meade, TN – Slw growth, $2.7M 18. Kenilworth, IL – Slw growth, $1.7M 19. Indian Hill, OH – Slw growth, $1.6M 20. Hillsborough, CA – No growth, $3.2M #realestate #finance #economy #wealth #investing

Check out this Tysons Market Analysis completed by Fairfax County: chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/https://lnkd.in/eyahBiTt The study indicates that the Tysons Corner market presents significant opportunities for retail and service businesses, driven by residential development that is surpassing both Fairfax County and the wider region. This growth is supported by the ongoing shift toward a more balanced community, which prioritizes enhancing public spaces and improving bike and pedestrian infrastructure. As a result, there is a rising demand for urban amenities and locally-serving retail. The increasing population creates a favorable environment for retail and service businesses to thrive. Investing in mixed-use developments that integrate residential and commercial spaces could prove to be especially profitable. At HannaCRE VA MD DC, we’re poised to support investors in navigating the commercial real estate landscape, empowering you to seize the exciting opportunities within this vibrant market.

📉 Harris Bay's Strategic Retreat from San Antonio: A Forecast and Commentary 📉 Harris Bay's strategic decision to gradually shrink its San Antonio footprint prompts several questions about the future of commercial real estate and investment trends in the region. 🔍 **Analyzing the Implications** 🔍 This move might indicate a recalibration of investment portfolios focusing on more lucrative or emergent markets. As investors seek higher returns, it’s plausible that Harris Bay is eyeing regions with burgeoning growth prospects. Alternatively, internal restructuring or operational re-prioritization could be influencing this decision. 🔮 **Predictions for San Antonio's Real Estate Market** 🔮 1. **Market Adjustments**: Reduced presence by a key player like Harris Bay could lead to short-term market adjustments. However, it also opens up opportunities for local entrepreneurs and new investors to capitalize on available real estate. 2. **Increased Competition**: With Harris Bay scaling back, competition among remaining and new players might surge. This could result in more innovative development projects and refined investment strategies. 3. **Potential for New Entrants**: The exit of established entities often invites new entrants into the market. Emerging companies or those looking to expand their footprint might find San Antonio a lucrative option now more than ever. 📊 **Long-Term Outlook** 📊 In the long term, San Antonio is still positioned as an attractive market, given its favorable economic climate and population growth. The city's resilience and adaptability could transform this short-term contraction into a catalyst for diversified growth and new investment models. ⭐ **Final Thoughts** ⭐ Harris Bay's gradual withdrawal is a signal rather than a setback. It's a reminder that the landscape of commercial real estate is dynamic, constantly influenced by broader economic conditions and strategic pivots. As we monitor Harris Bay's trajectory, stakeholders should remain open to the shifting tides and prepare to leverage the opportunities these changes present. Keep an eye on San Antonio – this is just the beginning of a new chapter in its commercial real estate narrative! 📈 #CommercialRealEstate #InvestmentStrategies #SanAntonio #MarketTrends #FutureOpportunities #RealEstateInvesting

The election was on everyone's mind in the commercial real estate sector. Movement among many entities was balancing on the knife edge of: "We do not want to commit to anything until the election is over." We are on the other side of the knife's edge, what sort of movement are you seeing now? For me, sectors like industrial or mixed-use are seemingly maintaining their rather smooth trajectories, and exciting opportunities are popping up, especially in the world of redevelopments. Smaller footprints of industrial are still remaining somewhat scarce in Northeast Indiana.... For all of the professionals outside of Northeast Indiana, is this what you are seeing? Ultimately, for all investors and operators, staying on top of trends impacting national and local markets will be key as always. I am excited to see the new opportunities surface as we navigate into a market that appears as though it will shift for the better. #CommercialRealEstate #CRE #RealEstateTrends #Sustainability #OfficeSpace #Retail #IndustrialRealEstate #InvestmentOpportunities