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US Population Grew by 1.6 Million This Year

US Population Grew by 1.6 Million This Year

by Phil Hall | Dec 19, 2023 | Industry Updates, News/Current Events, Real Estate News, WRE News Exclusive

The U.S. gained more than 1.6 million people over the past year, growing by 0.5% to 334,914,895, according to the Vintage 2023 population estimates published by the U.S. Census Bureau. More states experienced population growth in 2023 than in any year since the start...
$256 Million in Financing Closed for Mixed-Use Affordable Housing Project in Brooklyn

$256 Million in Financing Closed for Mixed-Use Affordable Housing Project in Brooklyn

by Phil Hall | Dec 19, 2023 | News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

A trio of developers – Monadnock Development, CB Emmanuel Realty, and Equity Developers – announced the closing on $256 million in financing for the development of Utica Crescent, a mixed-use affordable housing project in the East Flatbush section of Brooklyn. The new...
Bankrupt Austrian Company May Be Forced to Sell Stake in NYC’s Chrysler Building

Bankrupt Austrian Company May Be Forced to Sell Stake in NYC’s Chrysler Building

by Phil Hall | Dec 19, 2023 | Commercial Real Estate News, News/Current Events, Real Estate News, WRE News Exclusive

An Austrian real estate company that owns a stake in New York City’s Chrysler Building may have to sell its holding in the iconic skyscraper as part of a bankruptcy restructuring. The Wall Street Journal reported an Austrian court-appointed insolvency administrator of...
Fannie Mae Forecasts Home Sales and Mortgage Origination Recovery in 2024

Fannie Mae Forecasts Home Sales and Mortgage Origination Recovery in 2024

by Phil Hall | Dec 19, 2023 | News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

Single-family home sales likely bottomed out during the fourth quarter this year and are expected to begin a slow but meaningful recovery in 2024, according to the latest commentary from the Fannie Mae (OTCQB: FNMA) Economic and Strategic Research (ESR) Group. The ESR...
Sameer Nair Joins Peachtree Group as SVP of Equity Asset Management

Sameer Nair Joins Peachtree Group as SVP of Equity Asset Management

by Phil Hall | Dec 19, 2023 | Commercial Real Estate News, News/Current Events, Real Estate Investing, Real Estate News, WRE News Exclusive

Peachtree Group, an Atlanta-based commercial real estate investment firm, has named Sameer Nair as senior vice president of equity asset management. In his new role, Nair will oversee and implement asset oversight to Peachtree’s real estate portfolio and preferred...
California Home Sales Plummet to 16-Year Low

California Home Sales Plummet to 16-Year Low

by Phil Hall | Dec 19, 2023 | News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

California’s existing home sales in November recorded their greatest monthly decline in the past year and plummeted to the lowest level since the Great Recession, according to new data from the California Association of Realtors (CAR). Closed escrow sales of existing,...
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