National Supply chain hit hard by COVID-19 pandemic drives up house prices Abandoned malls are getting second lives What Will Happen to All the Empty Office Buildings and Hotels? Lumber frenzy drives up home prices as suppliers can’t keep up Detroit Former Scripps Mansion site in Woodbridge envisioned for 65 townhomes Detroit greenway projects blaze […]
With apologies to Dickens, 2021 is the best of times for residential sellers, and the worst of times for retail landlords. There are several stories this week that emphasize this divergence in the real estate market. First, the good news. The residential market in Michigan is still thriving. It is still an incredibly strong seller’s […]
Evictions Texas Courts Open Eviction Floodgates: ‘We Just Stepped Off A Cliff’ National Mall vacancies jump at fastest pace on record, hitting new high, as retailers cull store counts Amazon Is Buying Dead Malls – and the Reason Why Is Fascinating Retailers expected to close thousands of stores even after pandemic More retail pain ahead: […]
My focus this week is on the impact of COVID-19 on the future of office space. Although I have previously discussed the impact of the global pandemic on retail (bad) and industrial uses (good), I have not devoted much time to the impact on the future of the office sector. At this point, there is […]
Mortgages Mortgage rate increase hits lenders as refinancing surge fizzles Mortgage Firms Warned to Prepare for a ‘Tidal Wave’ of Distress Need a Mortgage Loan? Good Luck. Lenders Are Tightening Standards. Evictions Some landlords sell properties as CDC extends eviction ban Landlords fear some tenants using eviction moratorium as free pass on rent National Home […]
Michigan’s two largest metro areas are exceptionally different. I had the opportunity to spend time in the Grand Rapids metro area in the past week. Metro Grand Rapids development is reminiscent of the sprawl in metro Detroit in the 1990s through the early 2000s. New subdivisions and neighborhood shopping centers are under construction in many […]
For your consideration this week: The death of malls, which I have been discussing all year, has another casualty this week. A receiver will be taking over Partridge Creek Mall in Macomb County. A sale by its lender is likley. The Mall has no anchors and a rotating cast of dining tenants. As discussed previously […]
A few random topics for your consideration this week: The topic of reuse of no longer desirable real estate is starting to appear more frequently in the media. As I have discussed in several updates, the use of real estate will continue to change as the market desires change. This week, Crain’s discusses the reuse […]
This week the focus is on the prospects for the housing market in Michigan in the summer 2021 selling season. But first, a favor. If you find this weekly briefing and newsletter valuable, it would mean the world to me if you would forward it to others you think would find it valuable. And if […]
This week’s discussion is about change. Although it is hopelessly cliche, the only constant in the real estate marketplace is change. In past weeks, I have discussed the change that will be caused by the decline of bricks and mortar retail (especially malls), the rise of cannabis-related uses, the decline of video stores, and the […]
