Single-Family Rental Market Experiencing Shift Toward South and Midwest

first_img Tagged with: Institutional Investors Morgan Stanley Nomura Single-Family Rental Market The Best Markets For Residential Property Investors 2 days ago Share Save The Best Markets For Residential Property Investors 2 days ago Institutional Investors Morgan Stanley Nomura Single-Family Rental Market 2015-06-04 Brian Honea June 4, 2015 805 Views Subscribe Home / Daily Dose / Single-Family Rental Market Experiencing Shift Toward South and Midwest Servicers Navigate the Post-Pandemic World 2 days ago Previous: Bipartisan Bill Introduced In Congress Aimed At Preventing Fed Bailouts Next: CFPB Fines PHH Corp. $109 Million For Mortgage Insurance Kickback Scheme CoStar, a research organization, reported that single-family rental (SFR) property acquisition is geographically shifting as home prices stabilize and credit conditions ease. Institutional investors have also become more selective in which properties to buy and are more focused on managing their properties, collecting rents, and improving operations.Morgan Stanley, an investment firm specializing in wealth management, investment banking, and sales, and trading services, analyzed a growing trend among institutional SFR operators that are moving away from quickly recovering western markets and heading toward the South and Midwest.Although still at the low end of its projections, the firm believes that this geographical change may help increase mortgage-backed security (MBS) issuance volume. Morgan Stanley analysts also noted that this type of shift affects property quality and realized home price appreciation.The SFR market boomed with news of major property acquisition of distressed properties in the early days in places that suffered greatly during the recession. These places included Phoenix, Las Vegas, and Southern California. “Houses in the West typically were acquired earlier than those in other parts of the country,” the Morgan Stanley analyst reported. “Because of that, those purchases have realized more of the post-recession appreciation. And because home values fell so far in those areas, the magnitude of the recovery in western metropolitan statistical areas was also typically greater.”With the market moving toward the South and Midwest, operating cost are likely to rise, CoStar reported. This will likely happen because institutional buyers are focusing on South and Midwest deals and if operators continue to report spending more on rehabilitation costs as a percent of total cost on properties in the South and Midwest than they do on houses in the West. This could also mean lower-quality properties and/or older homes in these regions, which could lead to higher ongoing expenses.Over the past two years, the SFR mortgage-backed securities market for single family rentals has grown rapidly, the CoStar reported. Institutional owners have brought 18 of these transactions to a total market value of $9.8 billion.However, CoStar notes that portfolio growth has slowed across the eight SFR institutional investors that issue mortgage-backed securities. Nomura estimated that the number of single-family homes owned by these firms increased by 44 percent in 2014, but grew by only 6 percent during the first quarter of 2015.“Looking ahead, Nomura now expects the pace of issuing mortgage-backed securities to slow considerably through the remainder of the year as the institutional investors move from focusing on acquisitions to improving management of their existing portfolios,” CoStar reported. “Assuming that the firms continue to slow their rate of growth and that 40 percent of the total portfolio is funded through mortgage-backed securities, Nomura estimates that the market may see an additional $2.6 billion in issuance through year-end.” Xhevrije West is a talented writer and editor based in Dallas, Texas. She has worked for a number of publications including The Syracuse New Times, Dallas Flow Magazine, and Bellwethr Magazine. She completed her Bachelors at Alcorn State University and went on to complete her Masters at Syracuse University. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days agocenter_img About Author: Xhevrije West Related Articles Sign up for DS News Daily The Week Ahead: Nearing the Forbearance Exit 2 days ago in Daily Dose, Featured, Market Studies, News  Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Single-Family Rental Market Experiencing Shift Toward South and Midwest Servicers Navigate the Post-Pandemic World 2 days agolast_img read more

Solskjaer: No leaks from my squad

first_img “I have just said I have no reason to doubt any of my player’s professionalism, or honesty, integrity or loyalty. “I have said what I have said, and the rest will come from Mehmet. “I am not talking about Crystal Palace. We’ve got Southampton, and that’s my job to get ready for that game. When you are in a football club, you stick together. That’s the key.” Cardiff captain Steven Caulker added: “We have got to focus on the situation we are in at the moment. Our focus as players is to put things right from last week, really.” It is understood any alleged leak to Palace has not come from within the Cardiff squad. However, Caulker added: “To be honest with you, there have been problems like that all season where certain things have been leaked. “For me, it is frustrating. We need to focus on getting things right on the pitch, not what’s going on off the pitch. “I will be telling the boys that we need to get performances in and get results, not concern ourselves with off-the-field issues. “(The leak) has obviously come from somewhere. That’s down to the gaffer and the staff above him to sort stuff out, and we can just focus on playing football. “A lot of stuff has been going on off the pitch all season, and that has been highlighted in the press. It is important we all ignore all that stuff. Our performances have not been up to scratch of late. “As far as the boys are concerned, we back ourselves. We’ve had the support of the fans all season, we’ve had the support of both managers we’ve worked under. I find it hard to see where it could be coming from. “You have a bit of banter with your ex team-mates and friends in football. Until the Premier League has investigated it and got to the bottom of it, I certainly won’t be pointing any fingers.” Cardiff’s pe rformance against Palace suggested that the game might be up in terms of avoiding a quickfire Championship return, but Solskjaer has no intention of throwing in the towel. “I am up for a fight, that’s for sure,” he said. “There is absolutely nothing wrong with the atmosphere. We have had a very good week again. They are a great bunch of lads, and they have picked themselves up from the hurt of what happened last week.” Solskjaer dismissed any suggestion of involvement by any member of the Cardiff squad. The club, meanwhile, confirmed on Friday that chairman Mehmet Dalman has been in contact with the Premier League over an incident arising from the Palace game. It is understood Cardiff have complained about the circumstances surrounding the alleged leaking of their team. Palace won the game 3-0. Palace sporting drector Iain Moody worked for Cardiff until earlier this season. He took up a post at Palace last November. It has been reported that Cardiff believe Moody might have used his contacts at the Welsh club, or close to Cardiff, to find out which players would start against Palace. Moody, though, has refuted the allegations, telling The Sun: “That is incredibly, extraordinarily untrue. That is untrue, completely untrue.” Cardiff are currently six points adrift of Premier League safety, lying 19th ahead of Saturday’s trip to Southampton with just five games left. Asked about the allegations at his pre-Southampton press conference on Friday, Solskjaer said: “My week has been on how we can give ourselves the best chance against Southampton. “I think I have seen every one of my players and I don’t doubt anyone’s pride, honesty, loyalty, integrity, professionalism. They have all been fantastic this week. “I have built my life on loyalty and honesty, and those are the values I get from my mum and dad. But in football you need to stick together and learn together, and this week has proved that more than anything. Cardiff manager Ole Gunnar Solskjaer has presented a united front at the Welsh club after reports that their starting line-up might have been leaked to Crystal Palace ahead of last Saturday’s Barclays Premier League clash. Press Associationlast_img read more

Update on the latest sports

first_imgBogut was a 2005 No. 1 draft pick by Milwaukee and won an NBA championship with the Golden State Warriors in 2015. He has played for Sydney in the National Basketball League the past two seasons.NASCAR-VIRTUAL RACINGByron makes it 2 straight winsCHARLOTTE, N.C. (AP) — William Byron won his second consecutive NASCAR virtual race by holding off Timmy Hill in a drama-free event at virtual Richmond Raceway.The most excitement came when Matt DiBenedetto was parked for intentionally crashing Ryan Preece and the two then engaged in a Twitter spat. The iRacing Series has had a sour taste since Bubba Wallace lost a sponsor for quitting a game in a rage and Kyle Larson was fired for using a racial slur. Share This StoryFacebookTwitteremailPrintLinkedinRedditVIRUS OUTBREAK-SPORTSSports leagues seek return to play but with no guaranteesUNDATED (AP) — Sports fans hoping for a fast return to the games they love might need to temper their expectations. Although sports leagues talk publicly about their desire to return to competition before summer, those are best-case scenarios. April 20, 2020 — Soccer has resumed in Turkmenistan with spectators as the Central Asian nation lifted a suspension of its national league. Around 500 people attended Sunday’s game in a 20,000-capacity stadium in the capital. The crowd size was broadly in line with typical domestic league games in Turkmenistan and as usual attendance was free. The game ended 1-1. The eight-team league was suspended on March 24 amid the coronavirus pandemic. Turkmenistan is one of the few countries in the world not to have reported any cases of the coronavirus.— The stadium of English Premier League club Brighton has been converted into the south coast’s biggest drive-in coronavirus testing center. The appointment-only center has been put in place at the American Express Community Stadium as part of the drive to increase testing for National Health Service staff and other key workers. Officials say the center was scheduled to see more than 50 NHS frontline workers on Saturday, and they will have the results of their tests within 48 hours. Within a few days, the site should reach its capacity of up to 1,000 tests a day.— Players and coaches for Italian soccer team Roma have waived their salary for four months. The team hasn’t played a competitive match since March 1 because of the pandemic, so the players and coaching staff will forgo salaries due to them for March, April, May and June.— British horse racing’s most successful flat trainer of all time is recovering after contracting the coronavirus. Mark Johnston has been isolating since having the symptoms confirmed and his family says he is making good progress. In 2018, Johnston celebrated his 4,194th winner, which is the most of any trainer in British flat racing.— A Japanese professor of infectious disease says he is “very pessimistic” the postponed Tokyo Olympics can open in 15 months. Kentaro Iwata of Kobe University says, “To be honest with you, I don’t think the Olympics is likely to be held next year.” The CEO of the Tokyo Olympic organizing committee expressed similar reservations 10 days ago. Since then, the organizing committee and the International Olympic Committee have said there is no “Plan B” other than working for the Olympics to open on July 23, 2021. Update on the latest sports Associated Press — Australia’s top rugby players will demand a greater say in the future of the sport after agreeing to pay cuts designed to allow the game to weather the financial fallout of the coronavirus pandemic. Some players reportedly will give up as much as 60 percent of their income in the short term as Australian rugby faces uncertainty with major competitions shut down, perhaps for the rest of the year.NBA-BOGUT FUTUREFormer NBA top pick Bogut unsure about playing futureUNDATED (AP) — Andrew Bogut (BOH’-gut) is close to making a decision on when to end his career after 15 years in professional basketball.Bogut was planning to retire after playing for Australia at the Tokyo Games this summer. With those games delayed until July 2021, the 35-year-old is debating whether to wait it out. He says he probably needs to decide by mid-May. Behind closed doors, they are hatching different potential plans: all 30 baseball teams playing in Arizona; home run contests to decide tie games; the Stanley Cup being hoisted in an empty arena that neither team calls home; end-of-season soccer standings decided by vote; college football games in spring.Over the past week, The Associated Press interviewed more than 20 policymakers, coaches and players across the globe for their assessments of the situation. They all conceded that sports may not restart for months, if at all this year. Most agree that what’s needed is a drastic ramp-up in testing, a vaccine or some type of improved treatment to make players feel safe to compete.Dr. Anthony Fauci (FOW’-chee), the infectious disease expert, has suggested that sports could conceivably return with no fans in arenas and constant testing for the players, who would likely need to be quarantined in hotels for weeks or months. Not all players are on board.In other developments related to the coronavirus pandemic:— Wayne Gretzky is optimistic the NHL will be able to resume at some point this summer. He tells The Associated Press he’s hopeful hockey and other sports will be able to come back from the coronavirus pandemic and serve as a sign that conditions are improving. Gretzky says he believes leaders in the U.S. and Canada will find a way to bring back hockey and other sports in June, July and August. The league is considering several options on trying to resume this season, including going directly to the playoffs at several neutral sites. FORMULA1-VIRTUAL RACINGLeclerc wins virtual GP, againUNDATED (AP) — Charles Leclerc has won his second straight Formula One Virtual Grand Prix, taking the Chinese GP from the pole position.The Ferrari driver finished ahead of Red Bull’s Alex Albon and Guanyu Zhou (gwahn-yoo zhoo), who races in Formula 2.The 22-year-old Leclerc has won two actual F1 races and only started playing the video game at the start of the month. The actual Chinese GP originally was scheduled for April 19 but was postponed in February due to the coronavirus pandemic.,Tampa Bay Lightning advance to face Dallas Stars in Stanley Cup finals, beating New York Islanders 2-1 in OT in Game 6last_img read more

Vuka Scuta in Chinese bike deal

first_img7 September 2009Scooter and motorcycle retailer Vuka Scuta has bought out Loncin South Africa, taking over their current stock and parts inventory as well as distribution of their Chinese-manufactured range of street bikes, scooters, quad bikes, off-road bikes and cruisers.Vuka South Africa MD Kevin Ferreira said Vuka was approached by Loncin, who were looking for a buyer which could offer its own distribution channels, retail outlets and maintenance support, and added that he viewed the buy-out as a perfect opportunity for market consolidation in the current economic climate.“Loncin is a well-established brand with prime quality products, and the deal will enable us to introduce a number of new models within a short period of time,” Ferreira said in a statement last week.“We viewed this as a great way for product diversification, and believe that the new brand can assist us in penetrating new markets.”According Business Report, the deal is valued at between R3-million and R4-million.Strong national footprintWhile Loncin South Africa distributed their motorcycles via third-party dealers, Vuka has built a strong national footprint of corporately owned stores.Vuka has committed itself to continue serving Loncin’s existing customer base with services, spare parts and routine maintenance, and will honour all current warranties, and will also offer training and support for all their branches to ensure that the take-over does not adversely affect Loncin customers.“Loncin is a major quality manufacturer, and the only Chinese manufacturer taking part in the 125cc class of MotoGP,” said Ferreira.“Loncin was also appointed by BMW Motorrad to manufacture their 650cc cross country engine, due to their technical capability, and the company remains China’s biggest two-wheeler exporter.”Regional expansionVuka has also been appointed by Loncin China to distribute to countries such as Lesotho and Swaziland, and will also explore distribution opportunities into the rest of the African continent.“With their wider range of models priced between R6 000 and R30 000, Vuka will also be able to meet a broader consumer demand and appeal to new customers,” Ferreira said.SAinfo reporterWould you like to use this article in your publication or on your website? See: Using SAinfo materiallast_img read more

How Do March Madness Bracket Pools Work?

first_imgWith the majority of the United States’ population set to partake in an NCAA Tournament bracket pool or two, we thought we’d give a quick rundown on how these pools work, for those unfamiliar with the concept. An NCAA Tournament bracket pool is a collection of people who are attempting to predict how the tourney will unfold, and, based on the scoring system, one man or woman will emerge as the victor of their respective pool when the tournament concludes.       IG/bmikolajekIG/bmikolajekTo start, you need to enter a pool. If you weren’t invited into one by someone else, you can enter one of the hundreds of public pools open on ESPN, CBS, or Yahoo. Next, you need to fill out your bracket, which is set to be released Sunday night on CBS. There are 67 games to pick – the four First Four games, the 32 Second Round games, the 16 Third Round games, the eight Sweet 16 games, the four Elite Eight games, the two Final Four games and the national championship game. The scoring of the bracket pools can vary depending on what platform you’re using, but, basically, you get a certain amount of points per each contest that you pick correctly. Typically, the amount of points you receive per win increases by round, so correctly picking the national champion will be worth far more points than correctly picking the winner of a Second Round game. If two or more brackets have totaled the same number of points at the end of the NCAA Tournament, there are tiebreakers. Usually, you’ll have to predict the score of the national title game, and the person with the closest score wins the tiebreaker. Now that you’ve got the NCAA Tournament bracket pools down, go out and win yourself some pools!last_img read more

Creeping over Cuba

first_imgAlready embarked upon overthrowing Venezuela’s socialist government, the Trump administration is now renewing its efforts to squash Cuba as well, and Title III of the 1996 Helms-Burton Act is joining an arsenal of weapons employed by the US in what Cubans regard as genocidal aggression. This is the latest addition to the US’ long record of implacable hostility toward Cuba, which features terror attacks, military invasion, germ warfare, internal subversion, and almost 60 years of economic blockade. Devoid of natural resources and ready for US plunder, Cuba offends by having defended socialism and national independence. Also Read – A special kind of bondThe Helms-Burton law is complex, but it centres on tightening the economic blockade against Cuba, preparing for a transition government, and, by means of Title III, inflicting suffering and destabilisation. Title III opens the door for the former owners and the heirs of properties nationalised by Cuba’s revolutionary government to bring actions in US courts to gain compensation for what they lost. These live in exile, mainly in the United States. Persons or companies presently occupying such properties, or profiting from them, and who are located in third countries, would be required by the courts to pay off the aggrieved parties. Because the properties are in Cuba, the courts would lack direct enforcement capabilities, but that doesn’t mean the US can’t use the courts’ decisions to wreak havoc on Cuba’s drive for foreign investment. Also Read – Insider threat managementIn 1996, when the law was introduced, the European Union and other critics insisted that the US government delay implementation of Title III. It did so, and for the next 23 years, at semi-annual intervals, the United States announced one six-month delay after another. But a new era dawned on January 16 when the State Department declared that this time suspended implementation would end at 45 days. Something was up. On March 4, the State Department indicated that in 30 more days, Title III would be applied to the foreign and Cuban “traffickers” in nationalised properties. Also, Title III would, as of March 19, be extended to 200 Cuban enterprises controlled by Cuban security forces or state agencies, many of them connected with Cuba’s tourist industry. The US government in November 2017 had already put those facilities off-limits to US tourists. As of early April, international investors, aid agencies, and business-persons active or looking to be active in Cuba will be facing vast uncertainties. The former owners of nationalised properties may be suing them in US courts. Concerned about a slippery slope of US disfavour, they may cease involvement with Cuba. And what with unsettling news, foreign lenders may shy away from possibly risky loans for projects in Cuba. Title III promises what Cubans call “extraterritorial” effects. It further universalises the application of the US blockade which, potentially involving all countries, violates their sovereignty. But in a Machiavellian twist, the State Department will apparently wield the “trafficking” charge selectively. Cuban analyst Reinaldo Taladrid Herrero explains: “The road to Havana passes through Caracas.” Specifically, “They are going to exempt all businesses of countries allied with the United States, above all Canada and the European countries…. Implementation will be centred on adversary countries like Russia, China, and Venezuela.” Others share his views. Title III violates international law, according to Russia; Cuba solidarity groups have protested. A few business-oriented US groups oppose Title III out of concern that future US commercial ventures in Cuba would be vulnerable. Cuba’s government argues that nationalisation was and is legal according to international norms and court decisions in the United States. Cuba has sought satisfaction from the United States for deaths and destruction due to US assaults. Negotiations taking place briefly during the Obama era looked at balancing Cuba’s claims with US demands stemming from nationalisation. Title III means major trouble for Cuba. The government there is presently mounting an effort to bolster the nation’s economy. Foreign investors will assume a major role in the project. They would provide $2.5 billion annually toward building or refurbishing Cuban institutions, companies, and infrastructure. But any goodwill on their part may well evaporate once threats loom as to court actions in the United States. The availability to the Cuban people of food, health care, schools, building supplies, medicines, and transportation rests on loans and export income from abroad and on income from joint ventures with foreign entities. By 2014, Cuba needed $2.5 billion annually in direct foreign investment. The fact that food imports alone currently require an annual outlay of $2 billion suggests that current requirements are greater. Title III contains the seeds for havoc in the event that Cuba’s socialist government is no more and the United States takes charge. According to Cuba’s Granma newspaper, Cubans “would be forced to return, reimburse, or pay US claimants for the house in which they live, the area on which their communities are built, the arable land where they cultivate produce, the school where their children are educated, the hospital or polyclinic where they receive medical assistance.” Cuban Journalist Lázaro Barredo, formerly editor of Granma, summarises: “Helms-Burton literally has no precedents in the legal history of the United States. [It] constitutes an attack on sovereignty within the international community [and] represents political terrorism.” Helms-Burton would “extend US jurisdiction to other countries in an extraterritorial manner with the perverse intention of frightening, scaring, blackmailing, or dissuading persons interested in investing in Cuba.” We see a decision “to repossess the island, annex it, and move it toward total subordination to the United States.” This report closes with a condemnation of the generalised cruelty and cynicism that is rooted in the strategic thinking of US power brokers. For example, Republican Sen. Marco Rubio of Florida, presiding at a Senate Foreign Relations Committee hearing on March 7, heard testimony from “Cynthia Arnson of the U.S.-funded Wilson Center.” She “agreed with Rubio that ‘widespread unrest’ is useful, but cautioned that … ‘starving people don’t get out in the streets.'” In other words, a little starving is OK, but not too much.( The author practiced and taught pediatrics for 35 years and long ago joined the Cuba solidarity movement. He writes on Latin America and health issues for the People’s World. The views expressed are strictly personal)last_img read more

HC judge recuses self from hearing plea to bar Omar and Mehbooba

first_imgNew Delhi: A Delhi High Court judge on Wednesday recused himself from hearing a plea seeking a direction to the Election Commission to bar Jammu and Kashmir politicians Farooq Abdullah, Omar Abdullah and Mehbooba Mufti from participating in the Lok Sabha election as they have allegedly made “seditious” statements.Justice A J Bhambhani, who was part of the division bench headed by Chief Justice Rajendra Menon, recused himself from hearing the matter. Also Read – Uddhav bats for ‘Sena CM'”List it before a bench in which one of us, that is, Justice Bhambhani, is not a member,” the chief justice said. The matter would come up for hearing before another bench on April 12. The petition filed by a lawyer alleged that the “seditious and communal statements” given by the three leaders were against the Constitution, adding that the court or the EC should bar or impose conditions on their entry into the LS. All the three leaders are former chief ministers of J&K. The petition has arrayed the EC, the Union of India, the Delhi Police, National Conference (NC) president Farooq Abdullah, his son Omar Abdullah and Peoples Democratic Party (PDP) president Mehbooba Mufti as parties to the petition. Also Read – Farooq demands unconditional release of all detainees in J&KThe plea moved by advocate Sanjjiiv Kkumaar has also sought a direction to book them under various charges, including sedition and inciting hatred, of the Indian Penal Code and the Information Technology Act. “Issue directions to the respondent number 1 (EC) to ban the NC and the PDP from Lok Sabha election 2019 as respondent number 4 and 6 (the three leaders) are presidents of their respective parties and represent their parties and their ideologies,” it alleged. “Will it not be a mockery of democracy to allow those people and parties to participate in the Lok Sabha election when people/parties openly call for sedition to divide Mother India on the basis of religion (Muslim majority) and two prime ministers (for J&K and the rest of India),” it said.last_img read more

IPS officers condemn Sadhvi Pragyas remark on Karkare

first_imgMumbai: Associations of serving as well as former IPS officers on Friday condemned BJP candidate Sadhvi Pragya Singh Thakur’s remark that then Maharashtra ATS chief Hemant Karkare died in a terrorist attack because she had cursed him.The Indian Police Service (Central) Association tweeted from its official handle, `IPS Association’, that Karkare had made the “supreme sacrifice”. “Ashok Chakra awardee late Sri Hemant Karkare, IPS made the supreme sacrifice fighting terrorists. Those of us in uniform condemn the insulting statement made by a candidate and demand that sacrifices of all our martyrs be respected,” the association said. Also Read – Uddhav bats for ‘Sena CM’Julio Ribeiro, chairman of the Retired IPS Association, termed Thakur’s statement as unfortunate. Ribeiro said, “Karkare was one of the finest IPS officers who worked almost everywhere in Maharashtra during his stint and there was not a single complaint against him. He would never do anything wrong. “When other officers who have worked with Karkare would come across Pragya’s remark, they will think what kind of people are being put up (as candidates),” he said. Also Read – Farooq demands unconditional release of all detainees in J&KKarkare, along with Ashok Kamte and Vijay Salaskar, was among the police officers who were killed during the 2008 Mumbai terror attack. Before that, the Maharashtra Anti-Terrorism Squad had cracked the September 2008 Malegaon blast case and arrested Thakur and others. Thakur later got bail, but she is still facing trial for the blast in which six persons were killed. Addressing BJP workers in Bhopal — from where the party has fielded her for the Lok Sabha poll — she alleged that Karkare “tortured” her during the probe. “I told him he will be destroyed. A little over a month later ‘sutak’ (ritual observed after death of a family member) was going to start…just over a month later, he was shot dead by terrorists and the inauspicious period ended,” she said.last_img