Congratulations to Lili Dunn, president and CEO @BellPartnersInc, as our MFE Executive of the Year. Read more about how she is growing the company as well as making a difference in the lives of everyone she encounters, from investors to residents.
https://t.co/EDSXUlRx1P
This morning I caught up with one of the smartest people I know when it comes to real estate debt.
What he's thinking about:
1) The upcoming sale of the $18.5 Billion in Signature
Bank loans
2) Expense growth surpassing rent growth in
Multifamily
3) People irrationally betting on rates coming down just
because we are entering an election year
4) He can easily see rates staying around today's levels
for years to come
Housing Market Update:
1. Homes on market at record low of 1.3M
2. 53% of homes require income of $125K+ to afford
3. Average 30Y mortgage at 7%
4. Mortgage demand lowest since 1995
5. Median rent payment hits $2000/mo
This is the least affordable housing market in history.
To support those affected by the elementary school shooting in Uvalde, Texas, GoFundMe has created a centralized hub to house every verified fundraiser.
Our Trust & Safety team will continue to update this hub with more fundraisers as they are verified. https://t.co/5zAu4wpq0S
Feels like NFT money is shifting into collectibles projects that have community utility and tokenomics. Have fun with friends and get fucking rich. Pretty much the goal of most people in this community. And when they get rich they spend some on cool art. I think that’s the cycle.