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"All HHH projects leverage the city money with other sources of local, state and federal funds in complex packages that stretch out the development time. Most of the innovation proposals had simpler financing plans, some of which target non-public sources... "Daylight Community Development, meanwhile, said it would replace part of... Continue reading
Posted Jan 31, 2020 at UCLA Real Estate Wire
"Among the premier places to learn the skills to thrive in the constantly fluctuating world of real estate — and to make the connections that are the fuel for a successful career — is UCLA’s Anderson School of Management. Since its founding 18 years ago, UCLA’s Ziman Center for Real... Continue reading
Posted Jan 31, 2020 at UCLA Real Estate Wire
" Mr. Habibi, who is also a builder, landlord and developer, remains optimistic about the overall market. 'There have been fewer sales, but the deals are happening at a higher price point,' he said. "In Los Angeles, 38% of homes now sell above asking price, according to a recent report... Continue reading
Posted Jan 30, 2020 at UCLA Real Estate Wire
" 'Venture capital will no longer fund these continuous losses any more. They will stop funding these companies until they see a path to profitability,' David Shulman, senior economist for the Ziman Center and UCLA Anderson Forecast, tells GlobeSt.com. 'Tech firms will have to go for profitability as opposed to... Continue reading
Posted Jan 30, 2020 at UCLA Real Estate Wire
" 'A lot of worries from September have gone away. There seems to be a temporary truce in trade; the new NAFTA, the USMCA, is passing; housing starts are better; and the stock market broke out, and there is a wealth effect coming from that that will help the consumer,'... Continue reading
Posted Jan 30, 2020 at UCLA Real Estate Wire
"Paul Habibi, a finance and real estate professor at UCLA, said there appears to be a greater willingness for the ultra-wealthy to buy acres of land in fairly urban areas of Bel Air and Beverly Hills. " 'It is encouraging to sellers when a new high-water mark is set,' Habibi... Continue reading
Posted Jan 30, 2020 at UCLA Real Estate Wire
"Paul Habibi, a professor at the University of California at Los Angeles’s Ziman Center for Real Estate, said there is a shortage of 500,000 affordable units in Los Angeles, which TODs can help address. " 'There’s a widespread belief that the affordability problem needs to be solved from the supply... Continue reading
Posted Jan 30, 2020 at UCLA Real Estate Wire
" 'It is not unusual to start seeing a glut of supply in any property type, mansions included, this late in an expansion cycle,” UCLA real estate professor Paul Habibi said. 'Oftentimes [developers] have a herd mentality about introducing more inventory into the market.' " " 'The conventional wisdom is... Continue reading
Posted Jan 30, 2020 at UCLA Real Estate Wire
Eric Sussman Adjunct professor of accounting and real estate, UCLA; Founding partner, Clear Capital LLC; Los Angeles Will the attitude of landlords and the office market toward WeWork change after everything we’ve learned? No question. I have no doubt that WeWork’s reputation will absolutely tank. It has to. If you... Continue reading
Posted Jan 30, 2020 at UCLA Real Estate Wire
"Hudson Pacific’s properties fall under two categories: office buildings and studio spaces. "Tim Kawahara, executive director at the UCLA Ziman Center for Real Estate, called the group’s projects 'extraordinarily high profile.' Hudson Pacific Chairman and Chief Executive Victor Coleman was one of the Ziman Center’s founding board members. " 'With... Continue reading
Posted Jan 30, 2020 at UCLA Real Estate Wire
"Loan modifications became well known during the housing crisis when the federal government rolled out programs intended to help homeowners stave off foreclosure. "The best known program, Home Affordable Modification Program, or HAMP, which launched in 2009, required borrowers to be in default to qualify. HAMP fielded criticism that it... Continue reading
Posted Jan 30, 2020 at UCLA Real Estate Wire
As far as price points that are doing well within the luxury market, the “$2 million to $5 million range is doing pretty well, with $5 million to $10 million not doing as well,” said UCLA Ziman Center for Real Estate professor and developer Paul Habibi. “North of $10 million... Continue reading
Posted Jan 30, 2020 at UCLA Real Estate Wire
"Stuart Gabriel, director of the Ziman Center for Real Estate at UCLA, said consumer concerns about the broader economy have played a role in the housing slowdown. He said cheaper financing shouldn’t be viewed in a vacuum. " 'The lower interest rates are there for a reason,' he said, referring... Continue reading
Posted Jan 29, 2020 at UCLA Real Estate Wire
"A new report from The UCLA Ziman Center for Real Estate looks at how these sites could provide space for affordable housing development, particularly for teachers and students, demographic groups that are often the most susceptible to rent increases. " 'We have to address the affordable housing crisis from as... Continue reading
Posted Jan 29, 2020 at UCLA Real Estate Wire
"Appreciation of real estate across all asset types helped bolster the net worth of developers and long-term property holders alike. " 'Ever since we got out of the last recession, the real estate market has generally fared very well,' said Paul Habibi, a lecturer in real estate at UCLA. “The... Continue reading
Posted Jan 29, 2020 at UCLA Real Estate Wire
"Eric Sussman, a real estate investor and professor at the University of California Los Angeles, said AB 1482 'is not going to work.' While it could lead to fewer evictions in the short term, Sussman said it will also reduce the number of real estate transactions and investment in the... Continue reading
Posted Jan 29, 2020 at UCLA Real Estate Wire
"A recent report from UCLA Anderson Forecast took a close look at naturally occurring affordable housing, and found that capital is showing increasing interest in workforce housing as the probability of a recession increases. If a recession strikes in the next two years, it could revive the market. " 'That... Continue reading
Posted Jan 29, 2020 at UCLA Real Estate Wire
"The disappearance of naturally occurring affordable housing (NOAH) remains a persistent problem in high-cost metropolitan areas of the United States. The term NOAH refers to existing Class B and C housing built prior to the 1990s, which is generally affordable for middle- and low-income households. Rents charged for NOAH multifamily... Continue reading
Posted Jan 29, 2020 at UCLA Real Estate Wire
"As major cities in the U.S. become increasingly unaffordable, unsubsidized affordable housing is ever more crucial in meeting the demand for affordable housing. Unsubsidized affordable housing refers to Class B and C housing built in the 1960s through 1980s, which is generally affordable for middle- and low-income households. Rents at... Continue reading
Posted Jan 29, 2020 at UCLA Real Estate Wire
" 'Naturally occurring affordable housing is a critical piece of meeting the demand for affordable housing in high-cost cities,' Maya Saraf, UCLA Anderson School of Management MBA 2019 alumna, tells GlobeSt.com. 'Because there is not enough new affordable units being built, it is critically important to preserve the existing supply... Continue reading
Posted Jan 23, 2020 at UCLA Real Estate Wire
"Chinese developers will likely face a 'much higher pressure' on their foreign investments as the country’s currency, the renminbi, depreciates and the Chinese government continues to increase capital controls, said economist William Yu. 'I don’t think it’s possible to find a way to move the money out of China right... Continue reading
Posted Jan 23, 2020 at UCLA Real Estate Wire
UCLA Anderson School of Management's Eric Sussman said the U.S. economy is due for some type of downturn. “We’ve had one of the longest-running economic expansions in U.S. history,” said Sussman, who teaches classes in accounting and real estate at UCLA. “This particular expansion is getting long in the tooth.... Continue reading
Posted Jan 23, 2020 at UCLA Real Estate Wire
"While out-migration is a concern for California, Stuart Gabriel, the director of the Richard S. Ziman Center for real estate at the University of California Los Angeles said the state will remain a powerhouse in the U.S and abroad. "'Will California continue to see out-migration? Yes. Will California continue to... Continue reading
Posted Jan 23, 2020 at UCLA Real Estate Wire
UCLA real estate professor Paul Habibi said the Manor sale is a good sign for developers seeking massive sums for their estates because of the precedent it sets. “If $120 million is the new benchmark, that makes it more plausible to sell a home for $75 million or $100 million,”... Continue reading
Posted Jan 23, 2020 at UCLA Real Estate Wire
"According to the latest letter from UCLA Anderson Forecast and UCLA Ziman Center for Real Estate, slowing economic activity and pressure from trade tensions will start to impact the market next year. The shift in market dynamics will affect speculative development specifically. "'Trade controversies will start to show up in... Continue reading
Posted Jan 23, 2020 at UCLA Real Estate Wire