Lagging Real Estate Stocks Have Dropped Too Far, Analysts Say
Wall Street analysts see a double-digit upside potential for the S&P 500’s biggest losers this year: real estate stocks.
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Wall Street analysts see a double-digit upside potential for the S&P 500’s biggest losers this year: real estate stocks.
US Treasury Secretary Janet Yellen said she still sees underlying price pressures receding even as a tight housing supply has helped stall the downward path of inflation.
About $52 billion, or 31%, of all office loans in commercial mortgage bonds were in trouble in March, according to KBRA Analytics.
Central Puerto SA, Argentina’s biggest power supplier, is in talks to invest in Canadian miner McEwen Copper Inc.’s Los Azules project, according to people familiar with the matter.
Real estate transactions registered in Hong Kong nearly doubled in April, hitting a three-year high, just months after the government took steps to revive the market.
Jun 15, 2021
Bloomberg News
,From the ocean to the mountains, remote work fueled an unprecedented boom for vacation homes across the U.S.
Sales of the properties soared 16 per cent in 2020, nearly triple the gain for all existing homes, which was 5.6 per cent, according to the National Association of Realtors.
Buyers seeking a retreat flooded the market in the second half of last year, after COVID-19 lockdowns lifted. City-dwellers seeking out more space flocked to the mountains of Aspen, Colorado, the beaches of Miami and points in between.
In vacation-home counties, the median sale price of an existing property rose 14 per cent, compared with a 10 per cent gain in other counties, the Realtors group said in a report Tuesday.
With many businesses still giving employees an option to work remotely, “vacation housing and second homes will remain a popular choice among buyers,” said Lawrence Yun, the group’s chief economist.
Still, more workers are returning to the office, a trend that may help slow demand for vacation homes. An analysis by Redfin Corp. showed that while purchases last month were elevated from year-earlier rates, they had cooled from the frenzied levels seen earlier in the pandemic.