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West Coast Cities Slam Brakes on Housing Production Amid Worsening Crisis

Up and down the West Coast apartment construction sites are falling quiet despite high demand in a worsening housing shortage. Fewer multifamily projects have broken ground this year from Seattle to San Diego in one of the slowest starts to apartment construction in a decade. In San Jose, no apartments have broken ground after more than 7,000 started construction last year. In Seattle, 3,433 apartments started building in the first six months, a drop of nearly 60% from the same time last year.

Public Storage to acquire Simply Self Storage for $2.2 billion

Self-storage operator Public Storage (PSA.N) said on Monday it has entered a deal to buy Simply Self Storage from Blackstone Real Estate Income Trust (BREIT) for $2.2 billion, as it looks to expand its market presence. Demand for storage space has waned from the heights of the pandemic, as people return to offices, and some analysts expect more consolidation in the sector….

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HEIGHTENED NYC APARTMENT SUPPLY PUTS THE SQUEEZE ON MULTIFAMILY REITS

HEIGHTENED NYC APARTMENT SUPPLY PUTS THE SQUEEZE ON MULTIFAMILY REITS May 2, 2017 | by Orest Mandzy | Trepp I don’t want to sound like Captain Obvious, but a lot of people want to live in New York City. NYC neighborhoods are getting redeveloped left and right as...

House Panel OKs Bill Repealing DOL’s Fiduciary Rule

House Panel OKs Bill Repealing DOL’s Fiduciary Rule May 5, 2017 | Financial Advisor IQ A repeal of the Department of Labor’s fiduciary rule is now more likely as the House Financial Services Committee passes the Dodd-Frank overhaul bill, ThinkAdvisor writes. The bill...

Big Fiduciary Rule Revamp Unlikely: Sources

Big Fiduciary Rule Revamp Unlikely: Sources May 4, 2017 | Financial Advisors IQ Despite continuous and ongoing attempts to repeal or replace the Department of Labor’s fiduciary rule, major changes are unlikely, an unnamed source tells the Wall Street Journal. The DOL...

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