The April 2 edition of the REIT Report podcast featured Walt Rakowich on the topic of leadership during a time of crisis. Rakowich became CEO of ProLogis at the height of the economic downturn in 2008 and restored the company’s finances, enabling it to merge with AMB Property Corp. in 2011 to create Prologis, Inc. (NYSE: PLD).
In recent weeks, the mREIT sector has borne a disproportionate amount of liquidity-driven market turmoil triggered by the coronavirus crisis. With conditions showing signs of settling, for now, several Nareit mREIT members took a step back to give a first-hand account of what their companies have been dealing with.
REITs need to take a proactive stance to ensure they are ready to deal with activist investors that could emerge in the wake of the current coronavirus market uncertainty, according to a REIT corporate governance expert.
John Haggerty, co-chair, public M&A/corporate governance at Goodwin, told an April 2 webinar that activist investors see increased buying opportunities in the current environment “and are sitting on a lot of cash that has long-duration lockup, so they’ve got it there to use.”
Real estate pros who are unable to work now may be eligible for government assistance even as independent contractors. Here’s a resource to find out more.
Borrowing costs inched down for the second consecutive week. The 30-year fixed-rate mortgage averaged 3.33%.
A March housing report released by realtor.com® shows fewer homes are on the market as the nation battles the COVID-19 pandemic.
More help is being offered to homeowners struggling to make their next mortgage payment.
Find out which real estate professionals posted a stellar year, winning the REALTORS® Land Institute APEX Awards.
Until April 15, REALTORS® without a telemedicine plan can enroll and receive this benefit at no cost for two months.
Quoting from the Board of Governors of the Federal Reserve System website: “The Federal Open Market Committee (FOMC) is the monetary policymaking body of the Federal Reserve System… The FOMC schedules eight meetings per year, one about every six weeks or so. The Committee may also hold unscheduled meetings as necessary to review economic and financial developments.”
One of those unscheduled meetings took place on Sunday, March 15. At that time, the FOMC announced a reduction in the benchmark U.S. interest rate target range by a full percentage point. This decision was made ahead of the regularly scheduled March 17-18 meeting. How often does the FOMC do this? That is, how often does it change its monetary policy target without waiting for a regularly scheduled meeting? FRED can help us answer that question.
The purple bars in the FRED graph above show the change in the federal funds target rate (which is