Los Angeles County Property Market Soars by Record $100 Billion
Property values in Los Angeles County are projected to rise by a record $100 billion this year, providing a boon to municipal coffers on the back of a hot housing market.
Latest Videos
The information you requested is not available at this time, please check back again soon.
Property values in Los Angeles County are projected to rise by a record $100 billion this year, providing a boon to municipal coffers on the back of a hot housing market.
It’s aimed at reducing student debt load and providing “Summer Voyage” work-travel experiences as well as networking opportunities for those planning to pursue public service upon graduation.
(Bloomberg) -- Blue Owl Capital Inc.’s Dyal Capital is in talks to acquire a minority stake in real estate investment firm DivcoWest, according to people with knowledge of the matter.
A top Federal Reserve official downplayed deteriorating liquidity conditions in financial markets, telling an audience Monday it was to be expected given rising volatility as investors grapple with uncertainty over global events and shifting U.S. monetary policy.
Canadian home prices fell for the first time in two years as a rapid rise in interest rates looks set to threaten one of the world’s hottest housing markets.
Jan 17, 2022
As the Omicron variant delays a return to the office for workers in Canada, one Bay Street analyst is downgrading Dream Office REIT as rising vacancies hurt the company's operating performance.
National Bank Financial Analyst Matt Kornack told clients in a report on Monday that he lowered his rating on Dream Office REIT to "sector perform" from "outperform," while slightly raising his 12-month target price on the company's shares to $27 from $26.
That downgrade comes as Kornack sees the delayed return to work exacerbating an already muted leasing environment for the Toronto-based commercial landlord.
"We upgraded Dream Office in June 2020 on the belief that the worst of the pandemic was over and people would naturally gravitate back to physical workspaces," said Kornack.
"We still believe that the latter will happen in time but a year and a half later during the fifth wave of COVID and back to mandated stay-at-home orders, our patience is waning and operating performance has deteriorated. The longer this lasts, the deeper the hole from which to recover combined with more competition from new supply."
Kornack notes that Dream Office's leasing supply has eroded since mid-2020 to 83 per cent of the company's portfolio in the third quarter of 2021 from 88 per cent. More vacant space has opened up in its Toronto locations with occupancy now falling to 88 per cent in the Q3 from 97 per cent in mid-2020, Kornack said.
"The trend at current makes us think a positive inflection is a ways off and in the interim, equity investors will have more opportunistic places to deploy capital," he said.