Things are creaking along, and probably some more lumps to come, but it's not all that bad Deep seek prelude (of Jevons and spend data) Multifamily operators getting a bit nervous All hail the mods “underwater” loans are coming due (but it really doesn’t seem that bad) rents are coming down, as...
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Investment themes and trends
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The necessity of sector rotation in real estate portfoliosPremium
Investors and investment managers overseeing global real estate portfolios face constant challenges due to an uncertain global macroeconomic environment and structural shifts...
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Are office condos an answer to the commercial glut?
Office condos have always occupied an odd place in the commercial real estate world. With few exceptions, corporate tenants generally don’t want to own their...
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Three vignettes and five charts on asset values
Too high? Too low? Just right? What do Real Estate, VC and PE have to say for themselves? We’re back. One victory lap, one ‘more of the gloomy same,’ and one green shoot of...
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Let’s not throw the baby out with the bathwater
How can we best regenerate the urban environment without driving communities away? The Ministry of Housing, Communities and Local Government puts community at the heart of its...
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There is NO housing shortage in the USA
BREAKING NEWS: researchers have now quintupled the housing shortage!!! prices came down loving that used-home smell small houses, all the rage Biggest housing shortage of all...
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Time to end zoning across the USA
An old doctrine of municipal control, embedded in a 100-year-old court case out of Ohio (Euclid v Ambler Realty) established separation of uses. That was perfectly fine in an era...
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Six US real estate themes for 2025
Trump, AVs, data centres, alternative sectors, distress, and more. As we look ahead to 2025, I’ll give the same caveat I gave last year: nobody can predict the...
The Analyst
Can machines do a developer’s job?
The past few years has seen the proliferation of tools that seek to automate aspects of real estate development. From deal sourcing to underwriting to cost estimation and...
The Analyst
US homes have been getting more affordable since the 70s
When the shortage bros accidentally demonstrate that zoning is a trivial part of the story. Random Walk will make it two antagonistic posts in a row. Enjoy. housing shortage...