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Tuesday, May 19th, 2020

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Posted by: | Posted on: May 19, 2020

Housing Starts Slid to Lowest Level Since 2015 in April as the Pandemic Gave Builders Pause

The numbers: Housing starts occurred at an 891,000 seasonally adjusted annual rate in April, the Commerce Department said Tuesday, representing a 30% drop from March. It was the slowest pace of new home construction since February 2015.

Permitting activity for newly-built homes fell 20.8% between March and April to a seasonally adjusted annual rate of 1.07 million.

Housing starts fell short of the consensus forecast of economists polled by MarketWatch — they estimated new home construction to take place at a 900,000-unit annual rate. Building permits beat economists’ consensus forecast of 996,000.

What happened: New-home construction declined for both multifamily properties (down 40%) and single-family homes (down 25%). The Northeast experienced the most pronounced slowdown in building activity with a 43.6% drop overall in starts and a 66% decline in single-family starts. This was a reflection of the large concentration of COVID-19 cases in the New York City metropolitan

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Posted by: | Posted on: May 19, 2020

How To Refresh Your Home for Free Using Only the Decor You Already Own


With so many of us abiding by stay-at-home orders, we’re probably not the only ones who have gotten more than a little bored with our home decor. Staring at the same artwork, armchair, or rug day in and day out might have you thinking it’s time to a major change-up.

Bu there’s good news: An interior overhaul doesn’t mean you have to buy brand-new stuff! There’s plenty you can do with the furnishings you already own.


Take an afternoon to assess your space and put some of the following ideas into practice. You can get creative on your own or enlist your family to help you with the brainstorming. Because they’re around, right?

Declutter

That box full of papers you’ve been meaning to

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Posted by: | Posted on: May 19, 2020

Fed Warns CRE May Undergo ‘Substantial Repricing’ Because of Pandemic Disruption

In its recently-released bi-annual Financial Stability Report, the Federal Reserve issued a grim warning that asset prices remain vulnerable to significant price declines should the pandemic take an unexpected course. One example in particular, it said, was commercial real estate. 

CRE prices were already high relative to fundamentals before the pandemic, it noted, and disruptions in the hospitality and retail sectors have been severe.

“The vulnerability stemming from elevated CRE valuation pressures, coupled with a dim outlook for the sector as indicated by recent declines in equity REIT prices, suggests that CRE may undergo a substantial repricing in response to disruptions generated by the COVID-19 pandemic,” it said.

As part of its analysis, the Fed noted  that commercial property rents have generally risen more slowly than prices over the past several years. As a result, capitalization rates have ranged around historically low levels.

Now amid the economic disruption caused

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