Is Housing a Good Investment? Where You Stand Depends on Where You Sit

Is Housing a Good Investment? Where You Stand Depends on Where You Sit Andreas Fuster, Andrew Haughwout, Nima Dahir, and Michael Neubauer Liberty Street, April 18, 2018         Home price growth expectations remained stable relative to last year, according to the Federal Reserve Bank of New York’s 2018 SCE Housing Survey. Respondents expect mortgage rates… Read More The post Is Housing a Good Investment? Where You Stand Depends on Where You Sit appeared first on The Big Picture.

Hotel company Life House raises $40 mln

New York-based Life House, which operates as a boutique hotel company, announced it has raised $40 million in total funding, which includes $10 million in early-stage venture capital and $30 million in private equity. Backers include Henley Investments, Global Founders Capital, Comcast Ventures and Trinity Ventures. Life House was co-founded in 2017 by Rami Zeidan and Yury Yakubchyk. PRESS RELEASE LIFE HOUSE RAISES $40M TO LAUNCH ITS TECHNOLOGY-DRIVEN, DIRECT TO CONSUMER LIFESTYLE HOTEL BRAND Global Founders Capital & Comcast Ventures Lead Financing to Accelerate Product Innovation and Property Development New York — Life House, the first Silicon Valley backed lifestyle hotel company, today announced it has secured $40M in funding to accelerate the development of its lifestyle boutique hotel product and proprietary technology platform. The company uses technology to drive direct bookings, optimize operations, and foster a social community for today’s travelers much like today’s modern direct-to-consumer
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Worldwide Long-run Returns on Housing, Equities, Bonds and Bills [PREMIUM]

How do housing, equities and government bonds/bills perform worldwide over the long run? In their February 2018 paper entitled “The Rate of Return on Everything, 1870-2015”, Òscar Jordà, Katharina Knoll, Dmitry Kuvshinov, Moritz Schularick and Alan Taylor address the following questions: What is the aggregate real return on investments? Is it higher than economic growth rate and, if so, More

Owning Is the New Renting: Homeownership Trends Upward as U.S. Loses Renter Households

Rising wages, loosening credit standards and demographic shifts are all creating momentum for owning rather than renting. The homeownership rate rose from the prior year for the fifth consecutive quarter in 2018,  according to U.S. Census data released Thursday. It held steady at 64.2%, unchanged from the prior quarter and its highest level since 2014. The share of Americans who own a home rose from the prior year, from 63.6% in the first quarter of 2017. [wsj-responsive-sandbox id = "0" ] The homeownership rate rose last year for the first time in 13 years. That marked a turning point in the recovery, during which home prices have risen sharply and credit standards were initially very tight, blocking many renters from buying homes. The U.S. added 1.3 million owner households over the last year and lost 286,000 renter households, the fourth consecutive quarter in which the Continue reading "Owning Is the New Renting: Homeownership Trends Upward as U.S. Loses Renter Households"

Real Time Economics: Inflation Focus | Fed Minutes | Deaths of Despair

This is the web version of the WSJ’s daily economic newsletter. You can sign up for daily delivery here. In today’s issue, inflation shows signs of heating up, minutes from the Fed’s March meeting will offer new clues on policy, markets breath a sigh of relief as trade rhetoric cools, China catches up on R&D, rising U.S. home prices push borrowers deeper into debt, and “deaths of despair” are on the rise in the U.S. INFLATION PRESSURES BUILDING? In the latest sign of rising inflation, a gauge of U.S. business prices grew more than expected in March. Next up: the consumer price index is out Wednesday at 8:30 a.m. ET. Economists expect core consumer inflation (which excludes volatile food and energy prices) to accelerate to 2.2% from a year earlier, its first time above 2% in over a year. That, together with Tuesday’s producer prices coming Continue reading "Real Time Economics: Inflation Focus | Fed Minutes | Deaths of Despair"

StepStone Real Estate closes Courtland Partners buy

StepStone Real Estate said April 3 that it has completed its buy of Courtland Partners Ltd, which was announced in December. Financial terms weren’t announced. With the deal, StepStone Real Estate manages approximately $100 billion of capital allocations from institutional investors. PRESS RELEASE StepStone Real Estate Completes the Acquisition of Courtland Partners The Integration of Courtland into StepStone Real Estate Creates
a Real Estate Solutions Provider With Approximately $100 Billion in AUA New York, New York – April 3, 2018 – StepStone Real Estate (“SRE”), a leading real estate investment firm, today announced that it completed its acquisition of Courtland Partners, Ltd. (“Courtland” or “Courtland Partners”) and the firms are now fully integrated.  In December, the firms announced that they had entered into a merger agreement and expected the transaction to close near the end of March. With the integration, SRE now manages approximately US$100 billion of capital allocations from institutional
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Virgin Hotels, Juniper Capital to buy Hard Rock Hotel & Casino in Las Vegas

Virgin Hotels, along with an investor group led by Juniper Capital Partners, has acquired Hard Rock Hotel & Casino in Las Vegas. The group includes Fengate Real Asset Investments, Dream, Cowie Capital Partners, and other private investors. Financial terms weren’t announced. Brookfield Asset Management is the seller. The Hard Rock Hotel, located at 4455 Paradise Road, will continue full service operations under the Hard Rock flag until it opens as a Virgin Hotels hotel. PRESS RELEASE MIAMI, March 30, 2018 /PRNewswire/ — Virgin Hotels, the lifestyle hotel brand by Virgin Group founder Sir Richard Branson, in partnership with a group led by Juniper Capital Partners and Fengate Real Asset Investments along with their partners Dream, Cowie Capital Partners, and other private investors, has purchased the Hard Rock Hotel & Casino in Las Vegas from a Brookfield-managed private real estate fund in a transaction that closed today. The group plans to open a reconceptualized
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WeWork: Manhattan’s 2nd-biggest Private Office Tenant

Source: Recode     This is incredible growth: Eight years after opening its first co-working space in New York City’s SoHo neighborhood, fast-growing WeWork is now the second-biggest private office tenant in Manhattan. Approaching 50 locations in New York City, WeWork has now amassed more Manhattan office space than any other tenant except banking behemoth… Read More The post WeWork: Manhattan’s 2nd-biggest Private Office Tenant appeared first on The Big Picture.