🥵 Mezzanine Meltdown & a Skyscraper Slump
Navigate NYC's real estate rollercoaster: from mezzanine meltdowns to skyscraper slumps, opportunity awaits.
The big apples' towering titans are teetering, and that spells opportunity. If you've got an eye for the high-rise, now's the time to watch for deals that are looking up, quite literally.
Now, while you're craning your neck at those skyscrapers, don't miss the action down on the ground.
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Homebuilders are feeling the pinch and they're cutting deals to keep their hammers swinging.
This means more than just a few knocked-down prices; it’s a sign that the market's ripe for the picking – especially if you're in the market for assets with some land attached to it
In this edition of the AltReports:
📉 Skyscraper Skid
🏗️ Builder Blues
🥊 Real Estate Rumble
🚑 Rate Rescue
🤪 Lawsuit Lunacy
Video of the Week: The Collapse Nobody Saw Coming
Chart of the Week: We're on the Brink of a Credit Card Debt Crash
Podcast of the Week: How to Build a $100 Million Empire
Major disaster, Manhattan! Your beloved skyscrapers are drowning in a sea of foreclosure notices.
Foreclosure is breaking more records than the Beatles in '64 and mezzanine loans have hit an all-time high.
These are the tricky loans that real estate developers take out, placing their projects as collateral.
Oh boy, builder confidence took a dive in November for the fourth time running.
The high cost of borrowing is squeezing both the guys with the hammers and the would-be homeowners.
Yet, there's a silver lining—housing's not-so-hot contribution to inflation is cooling off, and the big brains expect mortgage rates to level out by 2024. #
Even when mortgage rates flirt with the quarter-century high, starving house hunters keep pouncing on whatever hits the market.
According to Zillow's fresh-off-the-press report, the U.S. housing scene is getting chiller than a polar bear's picnic as mortgage rates climb towards a scary 8%.
Despite values of homes taking a nosedive across major U.S. metro areas, sellers still seem to have optimism flowing out of their ears.