By EDWARD PINTO
On December 15, HUD released its annual Point-In-Time (PIT) homeless and housing inventory counts (HIC) conducted in January 2023. The key finding was that homelessness reached a record high as the 2023 annual count increased 12% and 18% respectively from 2022 and 2017.
The average rate of homelessness per 1,000 population in 2023 was 20. The PIT is calculated for the 381 local and state Continuums of Care (CoC), which HUD uses to track homelessness.
The hundred-plus page report had lots of data along with a handful of anecdotal references to burgeoning housing purchase and rental costs. However, it contained precious little insight as to the steps needed to address our burgeoning homeless problem.
Conspicuous in its…
By KIMBERLEY HAAS
As the commercial real estate market continues to change, office space is down, but not out, according to an economist who says a majority of companies are still committed to having a place where the “secret sauce” of their business is created.
Richard Barkham, global chief economist for CBRE in Dallas, said it may take up to nine years for the office market to fully recover but it is important to remember that not all of that sector has been badly hit by drops in value.
Barkham said that a large portion of the vacancies are in a minority of the stock, with 80% of the rise in vacancies in 10% of office buildings.
The office buildings…
By CHUCK GREEN During the pandemic homebuyers fled to southern states for warmer weather but now would-be purchasers are bailing out of deals at a faster clip than anywhere in the country. According to analysts at Redfin, 60,000 deals were called off nationally in September. That’s 17% of the homes that went under contract that month. In Florida, Jacksonville had 745 home-purchase agreements fall through, equal to 30.3% of homes that went under contract. That was the highest percentage among the metros Redfin analyzed. They were followed by San Antonio, TX (25.3%), Atlanta, GA (25%), Orlando, FL (24.6%), and Tampa, FL (24.5%). In August, about 800 home purchase agreements were tabled in Jacksonville. That’s 26.1% of homes that went under contract…
By DOUG OHLEMEIER Despite many employees working from home and companies adopting hybrid work models, investors are still attracted to the land of cubicles. While office suites aren’t as packed with workers as before the pandemic, the commercial market remains strong. “There is investor interest in office properties,” said Stephen Newbold, National Director in the U.S. office of research for Colliers International, a Toronto, Ontario-based global real estate services and investment management company. “We are at a stage where we can fairly confidently say that we’re not going back to those (2020) levels. It may fluctuate a little, but my overarching view is we are stabilizing on vacancies and space on the market.” Observers aren’t sure how the new work…
