Today's Real Estate Pulse
Berkshire Hathaway to Acquire U.S. Homebuilder in $6.8B Deal
Berkshire Hathaway, now led by CEO Greg Abel, announced a $6.8 billion acquisition of a U.S. homebuilder, marking the conglomerate’s first major entry into residential construction. The purchase is intended to add stable, long‑term cash flow from the housing sector to Berkshire’s portfolio.
Also developing:
Hines, Burstone Form Pan-European Light Industrial Joint Venture
Hines and Burstone have announced a pan‑European joint venture focused on light‑industrial properties. The partnership is seeded with six existing assets located in Germany and the Netherlands. The new entity aims to capitalize on the accelerating demand for logistics and distribution space across Europe. By combining Hines’ global capital platform with Burstone’s regional development expertise, the JV positions itself to acquire and develop additional assets in the fast‑growing industrial sector.
CRE: Constraints, Moats and Value
Wall Street wiped 12‑14% off the market caps of CBRE, JLL and Cushman & Wakefield after analysts warned that high‑fee, labor‑intensive CRE models are vulnerable to AI disruption. At the same time, Yardi’s research with AREF found only 45% of...
Iran War Could Knock UK Homebuyer Confidence, Says Builder Persimmon
Persimmon warned that the escalating conflict with Iran could erode UK home‑buyer confidence, adding pressure to an already fragile mortgage market. The builder still expects to complete 12,000‑12,500 homes in 2026, a modest rise on 2025, and reported a 9%...
William Lauder Sells Park Avenue Co-Op in Robust Week for Luxury Deals
Luxury co‑ops on Manhattan’s Upper East Side saw a record‑breaking week, with 15 units priced above $4 million sold—the most in five years. Olshan Realty reported 43 contracts for properties over $4 million between March 2‑8, totaling $421.5 million, up from 32 deals the...
EPC Delay Will Help Fine Tune Effectiveness
The UK government has pushed back the implementation of new Energy Performance Certificate (EPC) rules for rented homes to autumn 2027, giving ministers time to refine the overhaul of the Energy Performance of Buildings regime. The revised EPC framework, set...
Ardian, ADIA Agree to Launch Real Estate Secondaries Platform
Ardian and the Abu Dhabi Investment Authority (ADIA) have signed an agreement to launch a dedicated real‑estate secondaries platform. The initiative arrives as the global real‑estate secondaries market recorded a record $20 billion in transaction volume for 2025. The platform will...
Why Is Communication so Important When Designing a Home? An Architect Explains
Effective communication is the backbone of a successful home‑building project, starting with a thorough pre‑appointment discussion that clarifies budget, lifestyle goals, and design expectations. Throughout the design phase, architects must keep clients and consultants updated, using both digital tools and...
What Negative Gearing and Capital Gains Tax Do – Here’s the Data; Here’s the Evidence
Australia’s federal budget foresees $11.99 billion annually lost to negative gearing and the capital gains tax discount, with a projected $193.9 billion revenue shortfall over the next decade if unchanged. In 2025 investors accounted for 39 percent of new housing loan commitments—almost double...
Lennar's Q4 Incentives Jump to 14%, Outpacing PulteGroup
Q4 2024 incentives rate: Lennar —> 10.0% PulteGroup —> 7.2% Q4 2025 incentives rate: Lennar —> 14.0% PulteGroup —> 9.9%
Missing Square Footage Is as Clueless as Hidden Height
Not including square feet in an apartment listing is like not including height in a dating profile.
Aurva Illam House / Iki Builds
Aurva Illam, a 5,660 ft² prototype on Hyderabad’s urban fringe, reimagines luxury through reclaimed stone, rammed‑earth walls and passive‑solar geometry. The design stacks ascending vaults that create shade, harness stack‑effect ventilation and eliminate mechanical cooling. Integrated rainwater harvesting and terracotta insulation...
Huge Demand for Edgartown Rowhomes; Builder Ready to Scale
There would be plenty of demand to buy Rowhomes in Edgartown If they let me, I’d personally build hundreds.
State Farm’s California Homeowners Rate Request: It’s Settled— Almost
State Farm, the California Department of Insurance and Consumer Watchdog have reached a settlement that leaves a 17% emergency homeowners‑insurance rate increase in place while providing refunds with 10% interest for condo and landlord policies. Renter‑insurance rates will rise slightly...
UK Cities Where Letting Agents Are Most Active
Propoly’s analysis of rental listings across 21 UK cities reveals an average of 13.5 listings per letting‑agency branch. Nottingham tops the chart with 35 properties per branch, while Leeds (30.5) and Newcastle (21.1) also exceed the national norm. The lowest...
Singapore Property Clan Puts Rare Hong Kong Estate up for US$38.4 Million Tender
A Singapore‑rooted property family has placed the Belvedere estate in Hong Kong’s Southern district up for tender at HK$300 million (US$38.4 million). The low‑density compound, comprising five two‑storey houses on a 21,170 sq ft seafront site, will be sold “as‑is” with existing tenancies. The...
PROPTECH-X : Fine & Country Announces Expansion Into South America
Fine & Country announced its entry into South America by signing a Master Licence Agreement with Sorhuet & Sapelli in Uruguay. The deal establishes two flagship offices in Punta del Este and Carrasco, forming a national rollout hub for the...
New Property Discovery App Officially Launches with TV Campaign
The HOMING IN® property discovery app has launched a national TV advertising campaign on Sky channels starting mid‑March, targeting tech‑savvy home‑seekers. The platform promises estate agents a low‑cost or free marketing channel that funnels enquiries directly to their own websites...
Fears New Public Register Will Create ‘Extra Red Tape and Unintended Consequences’
The UK government plans to launch a public register of land transactions to boost market transparency. Industry leaders, including Bidwells and KMDC, warn the scheme could impose extra red tape, especially harming small‑scale developers. Critics argue that reinstating Help to...
Zoopla Reports Sharp Rise in Property Valuation Leads to Agents
Zoopla announced a 42% year‑on‑year rise in valuation leads for February, extending the growth seen in January. The surge aligns with an additional 500,000 homeowners using Zoopla’s valuation tools, pushing total users above 5.6 million. Leads increased across Great Britain, with...
A Reimagined 1940s Miami Home by Modernist Architect Rufus Nims Just Listed for $6.5 Million
A 1948 tropical‑modern residence by Rufus Nims in Miami’s Morningside enclave has been dramatically renovated and rebranded as SkyFin. Architect Gabriela Liebert purchased the long‑vacant property for $1.5 million in 2022 and expanded the 4,200 sq ft home while preserving its original design...
Stagwell Inc (STGW) Q4 2025 Earnings Call Transcript
Stag Industrial reported a record 2025, posting core FFO of $2.55 per share, up 6.3% year‑over‑year, and same‑store cash NOI growth of 4.3%. Leasing activity accelerated with 31 new leases covering 3 million square feet and cash spreads of 16.3%, while...
Avoid Federal Limits on Build‑to‑Rent: Preserve Housing Supply
I deleted a couple posts criticizing a letter from 100+ YIMBY groups that was mostly quite good, but erred (IMHO) in supporting what is effectively a partial ban on build-to-rent construction. My word choices in those posts were too callous, and...
North American Savings Bank (NASB) Mortgage Review 2026: Rates, Loan Options and Customer Feedback
North American Savings Bank’s 2026 mortgage review highlights a lender that blends digital pre‑approval with live phone support, but its pricing lags behind many peers. The bank’s portfolio is dominated by non‑qualified‑mortgage (Non‑QM) products, pushing average conventional rates to 7.49%...
Flagship Communities Real Estate Investment Trust Announces Fourth Quarter and Full Year 2025 Results
Flagship Communities Real Estate Investment Trust reported strong fourth‑quarter and full‑year 2025 results, with rental revenue climbing 17% to $103.4 million and net income rising 12% to $115.7 million. NOI increased 17% year‑over‑year to $68.4 million, while FFO per unit grew 12% and...
Q&A: Cushman & Wakefield's Brad Newman-Bennett On The State Of Real Estate Insolvencies
Brad Newman‑Bennett of Cushman & Wakefield warns that Canadian real‑estate insolvencies have moved beyond secondary lenders to senior banks, as land values have slumped roughly 50 % since purchase. The fallout has stalled high‑rise, concrete projects while distressed sales remain scarce...
Sales May Beat Forecast Despite Slight YoY Decline
2nd Look at Local Housing Markets in February Altos: Active single-family inventory was down 0.6% week-over-week https://calculatedrisk.substack.com/p/2nd-look-at-local-housing-markets-b1a My sense - based on limited data - is sales will be above the consensus forecast, but will likely be down slightly year-over-year.
Why ARMs Are Rising Even as Rates Drift Lower
Adjustable‑rate mortgage (ARM) originations climbed in 2025 despite falling 30‑year fixed rates, reaching a 20.5% share of conventional volume, the highest in three years. The 5/1 ARM remained about 80 basis points cheaper than the fixed‑rate benchmark, saving borrowers roughly...
California ‘Dream For All’ 2026 Open Through March 16 for First-Time Home Buyers
California’s Housing Finance Agency has reopened the Dream For All Shared Appreciation Loan program, offering first‑generation, first‑time homebuyers up to $150,000 in down‑payment or closing‑cost assistance. Applicants must meet income and residency criteria and are chosen through a lottery, with...
Steven Roth Sells Former Queens Department Store to Northwell Health for $236M
Steven Roth sold the 340,000‑square‑foot former Alexander’s department store in Queens for $236 million, generating roughly $150 million in profit. The property, vacant since Burlington and Marshalls left, includes a 1,236‑space parking garage and sits near the Long Island Expressway. Northwell Health,...
CyrusOne Tops Out Latest Texas Data Center
Data center provider CyrusOne announced the topping out of the first building at its new Bosque County campus in Whitney, Texas. The $750 million DFW10 facility, a 250,000‑sq‑ft, single‑story data center, was constructed by 650 workers over 450,000 man‑hours without incident....
TD Securities Expands to 181K SF at SL Green’s 125 Park Avenue
TD Securities, the investment arm of TD Bank, has expanded its footprint at SL Green’s 125 Park Avenue to 181,447 square feet, adding 51,081 square feet on the 21st and 22nd floors. The new space brings its total occupancy to the eighth, 19th,...
How to Remove Someone From a Mortgage | No Refinancing
The article explains that a co‑borrower can be removed from a mortgage without refinancing, though this route is uncommon. It outlines five alternatives—mortgage assumption, court‑ordered removal, lender release, bankruptcy, and quitclaim deed—detailing their requirements, benefits, and drawbacks. Cost analysis shows...
Redfin Economists’ Weekly Take: Mortgage Rates Poised For Volatility As Iran Conflict Escalates and Inflation Data Looms
Redfin economists warn that mortgage rates could remain volatile as the Iran‑Israel conflict drives oil prices toward levels last seen during the Ukraine war and fresh inflation data arrives. February core CPI is projected to rise 0.2% month‑over‑month, while the...
California Is Booming With New Investors—Here’s Why the Long-Term Prospects Could Become a Cash Cow
San Luis Obispo County has become California’s third‑hottest market for single‑family home investment, with 7,454 purchases last year. The surge is driven primarily by mom‑and‑pop investors—small owners who hold fewer than five properties—who now own about 91% of the state’s...
Loandepot Adds Wholesale Production 3 Years After Exit
Loandepot announced its return to the wholesale mortgage origination channel, a move it had abandoned in August 2022 after a $224 million Q2 loss. CEO Anthony Hsieh, now acting CEO, says the comeback leverages the joint‑venture shared‑services platform to drive profitable...
PGIM Provides $103M Facility to Alterra IOS Secured By 23 U.S. Assets
Alterra IOS secured a $103 million senior debt facility from PGIM’s real‑estate credit arm, backed by 23 industrial outdoor storage properties across 18 U.S. markets. The financing will fund future IOS acquisitions, marking Alterra’s first debt partnership with PGIM. Executives called...
Steve Croman Hit with Four More Foreclosure Suits From the Lower East Side to Harlem
Steve Croman, a once‑convicted landlord, is facing four new foreclosure lawsuits filed by Dalan Real Estate over nine Manhattan rental buildings spanning Harlem to the Lower East Side. The suits allege Croman defaulted on $43.4 million in Axos Bank mortgages after...
Prologis Adding On To Massive La Porte Logistics Park
Prologis broke ground on the final phase of its Port Crossing Commerce Center in La Porte, Texas, adding two new buildings totaling 290,000 square feet. The expansion pushes the park’s footprint above 2.7 million square feet across 11 structures, reinforcing...
Syndicator Lender Ready Capital Takes Massive Hit
Ready Capital posted a $232 million loss for the fourth quarter, an improvement from a $314 million loss a quarter earlier, as it restructures a $1.5 billion commercial‑real‑estate loan portfolio. Non‑accrual loans surged to 25% of the book, roughly $1.3 billion, driven by a...
Renovate-to-Rent Crucial as Investors Outspend Homebuyers
Encouraged to see pro-housing voices pushing to keep build-to-rent. I'd also suggest pushing to keep "renovate-to-rent." Three things: 1) Freddie Mac wrote in 2022 that investors "heavily target under-market-value homes that need more repair than what most first-time homebuyers are willing to...
Wealth Clusters Around Corridors, Not Sectors
The “Corridor Gravity” Law Why 80% of Real Estate Wealth Is Created Within 2–3 km of One Road Most people buy property based on: • sector number • builder brand • brochure amenities But in real estate, the real economic unit is not the sector. It’s the...
Mortgage Intent Index Peaks Highest in Over Two Years
A great dataset I recently got access to: Xactus Mortgage Intent Index. Xactus processes credit pulls in the mortgage application process. The index is based on actual apps. It is highly correlated with the Altos weekly pendings data. Now at highest...
Inventory May Turn Negative YoY by Early April
Inventory has a shot of being negative year over year by the end of March or the first week of April if the seasonal increase doesn't happen soon. https://t.co/yYspHxEdvu
Early 2026 Sales Lag 2025, March May Recover
The first two months of the year have started off with lower closed sales volume than 2025. The hope is for March 2026 to be a little higher in light of slightly more pendings lately. https://t.co/Ctj0EyVXqx
Ideal Industrial Tenant: Low‑Maintenance, Reliable Rent Payments
This is the dream industrial tenant. Essentially just dry storage with very little to ever be concerned about. Tenants pay their rent consistently and you never get a phone call from them. The exact opposite of pickleball really. https://t.co/OWpWYLmHs8
YIMBYs Paradoxically Oppose Universal Build‑to‑rent Development
Genuinely puzzled that 100+ YIMBY groups signed off on a letter that says "we should allow build-to-rent construction everywhere except not really everywhere." What the heck? YIMBYs are now NIMBYs? That is literally a tactic you criticize NIMBYs for. 🤦♂️ https://t.co/Z61eYharAp
Previewing California YIMBY's 2026 Legislative Agenda
On Thursday, I'll be walking through California YIMBY's excellent 2026 legislative agenda. See you there? https://t.co/3KTPbOnoos
Housing: Unexpected Alliance Between Trump and Mamdani
From the weekend: Why it makes sense that housing is where Trump and Mamdani can find common cause and how Mamdani and LA's Nithya Raman and seeking to upend a half century of urban housing politics and a decade-long fight...
Homeowners Resist Affordable Housing, Celebrate Rising Rents
You are forgetting nobody wants their towns to get cheaper. They want their homes to appreciate and for poor people to be priced out of becoming their neighbors. The developers, landlords and homeowners in Austin are PISSED rents are dropping.
Florida Metros See Home Values Decline Across the Board
Every major metro area in Florida has experienced declining home values in the last year. Orlando, Tampa, Jacksonville, Lakeland, Naples. Now even Miami is getting in on the action. Demand and sales volume continue rest at the lowest level in nearly 15 years....