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Posted by: | Posted on: July 7, 2020

Taking Clues from Past Cycles

It may feel like we’re in uncharted waters with COVID-19, but Lee Menifee, PGIM Real Estate’s Head of Americas Investment Research, says there are things we can learn from history.

“I absolutely do think there are clues from past downturns,” Menifee says. “The thing that I’m looking most carefully at [this time] is how real estate is priced, both in an absolute sense and versus other asset classes, in this downturn relative to previous downturns.” 

In past downturns, real estate values have fallen for two reasons, according to Menifee. One reason was that the underlying income in properties fell. The other was that investors attached a higher risk to certain properties.

Previous economic cycles have also shown that investors favor real estate, but they see a significant distinction between the different types of real estate. That should play out again in this cycle.

Given what is happening with interest rates

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Posted by: | Posted on: July 7, 2020

1031 Exchange: Take the DST or TIC Route for Multifamily in a Post-Covid World?

While the housing market appears to be faring well against the current recession, multifamily real estate in particular traditionally performs best under economic distress. In other words, the expectations for the post-pandemic housing market are compelling, and this is especially true for multifamily real estate since it is often regarded as “the most resilient property sector to recessions.” For example, during the 2001 recession, US multifamily property rents fell by 6.7%, whereas office rents fell by 7.4% and industrial rents fell by 17%. Furthermore, post-recession, US multifamily property rents grew at considerably higher rates than the rents of office properties and the rents of industrial properties. The multifamily housing market exhibited similar behavior in 2008. During the 2008 recession, US multifamily property rents fell by 7.9%, whereas office rents fell by 17.7%, industrial rents fell by 17.5% and retail rents fell by 14.1%. After the 2008 recession, multifamily rents exhibited

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Posted by: | Posted on: July 7, 2020

‘How We Moved Homes—and Kept Ourselves Safe—During COVID-19’

Moving has to be one of the top five stressors in life—and a global pandemic adds a whole new set of variables that sends stress levels through the roof. That’s what my family experienced when we recently relocated over 120 miles from Los Angeles to San Diego. And because of the coronavirus pandemic, we did it all on our own.

We had long planned to move; after 20 years in L.A., we wanted a change. Summer 2020, after my son graduated from high school, seemed like the perfect time. Little did we know that COVID-19 would hit the U.S. and bring everything to a stop.

Moving during this time brought up a number of uncertainties. No. 1 was whether it was even safe to hire a moving company. We wanted to be cautious

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Posted by: | Posted on: July 6, 2020

Local architects innovate for both high-end, afforadable housing markets

Since 2004, architects Yakuh Askew and Martine Paquin have collaborated to influence the Bay Area’s architectural landscape.

Askew, principal of Y.A. Studio, partners with Paquin, who helms an eponymous design firm focused on interiors, to develop both high-end residential design and affordable housing.

“We work across the spectrum,” said Askew, who

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Posted by: | Posted on: July 4, 2020

‘Good Bones’ Reveals a Trick for Creating Outdoor Space Where None Exists

The stars of “Good Bones,” Mina Starsiak and her mom, Karen Laine, know what it takes to renovate a house in their home state of Indiana. Still, this mother-daughter duo don’t always see eye to eye, which can cause problems during a renovation.

In the show’s latest episode, “The Greenwich Village Townhome,” Laine and Starsiak work on an attached Indianapolis condo that may look familiar to regular viewers. After renovating one half of this building in a previous episode, Laine and Mina have bought the other half, and are fixing it up to sell.

And while these two may be familiar with the building, this home has unique problems—no outdoor space, for example—that Starsiak and Laine need to resolve together.

However, with Laine announcing her imminent retirement from their company, Two Chicks and a Hammer, (she’ll still be on the show helping out with projects), things are hectic. This

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