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21.05.26 - 00:21
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Lowe′s CEO Warns Housing Market "Most Difficult" Since Financial Crisis As DIY Project Demand Crumbles (ZeroHedge)
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Lowe's CEO Warns Housing Market "Most Difficult" Since Financial Crisis As DIY Project Demand Crumbles
Home improvement retailers such as Home Depot and Lowe's warned this week that consumers remain reluctant to splurge on big-ticket home improvement items, as elevated mortgage rates, high home prices, energy inflation, weakening sentiment, and broader macroeconomic uncertainty weigh on demand.
Let's begin with Home Depot, which on Wednesday reported mixed first-quarter results. At the same time, management said on the conference call that it is not expecting a "marked improvement in underlying demand."
Bernstein analyst Zhihan Ma pointed out that Home Depot's foot traffic has been negative for five straight quarters, underscoring the persistent downturn in the home improvement space.
Ma maintained a "cautious outlook" and expects a "gradual path to a home improvement market rebound," as high mortgage rates and inflation in material costs do not help...
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20.05.26 - 23:42
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Scion Group & Ares Management Team Up to Buy $910M in Student Housing (Bloomberg)
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Scion Group CEO Rob Bronstein said that his team is targeting real estate around universities that represent a 'strong return on investment' in terms of tuition, as his company announces a deal with Ares Management to but $910M in student housing properties. Bronstein, joined by Bloomberg's Norah Mulinda, said that his investment is aimed at providing a wide net of locations and price points in the student housing market. (Source: Bloomberg)...
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20.05.26 - 15:18
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More than £52m reserved for social housing at risk after collapse of investment firms (The Guardian)
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Exclusive: 3,500 social homes could switch to private sector after companies run by Heylo Housing group go into administrationMore than £52m in public money earmarked for social housing is at risk after the partial collapse of one of the England's fastest-growing housing providers.Two of the investment companies run by the Heylo Housing group, which is backed by the asset managers Blackrock, have gone into administration leaving the government regulator scrambling to find a rescue deal to protect taxpayers' money and prevent 3,500 social homes switching to the private sector. Continue reading......
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20.05.26 - 13:54
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Immobilienkonzern: Vonovias Masterplan (FAZ)
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Seit die Zinsen gestiegen sind, steht der Wohnungskonzern Vonovia unter Druck. Der neue Chef soll das Geschäft voranbringen – und hat Ideen, die nicht allen Mietern nicht gefallen werden....
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