About This BlogUnvarnished truth. Consultant Jonathan Miller (Miller-Ryan) has compelling views on the market, and he shares them with GlobeSt.com subscribers.
Convenience at a Price
All the new apartment construction in-and-around the convention center in Washington DC is another example of sterile neighborhood development sweeping through our cities in a rush to create profitable 24-hour environments.Read More
Don't Get Greedy
So to answer definitively the “What should I do now?” investment question previously posed, I say it’s time to hold with the caveat—sell anything sketchy or past its prime. I don’t think it’s a great time to buy and the always narrow development window is closing.Read More
"What Should I Do?"
Some recent private chit-chat heard among a group of prominent real estate dealmakers: “Land prices are out of reach.” “I’m struggling with low yields.” “Opportunities are harder to find.” “You can’t make the numbers work on (building) condos.” “Not buying existing core assets.” “Spread compression is too much.” “It’s insane pricing on industrial.” “Underwriting is loosening.” “It’s a tremendous time to borrow.” “Debt has never been cheaper. “We’re seeing limited or no call protection--loans will come back to you.” …Read More
Infrastructure Spending Post Mid-terms: More of Less
The new totally GOP-controlled Congress appears poised to continue the course for infrastructure policy set by the House during the last two sessions— in the politest terms that amounts to benign neglect. In fairness, most Democrats have been reluctant to raise the federal gas tax too or find other funding sources for the nation’s rapidly deteriorating roads, bridges and tunnels, not to mention rusting water lines and overtaxed sewage treatment systems as well as crumbling…Read More
Downtown LA Revival—For Millennials Only?
You can pick up some of your most cogent, well-spoken market information from cab drivers… A hack in LA was no exception earlier this week. “It’s the smart young people who work hard and play hard who are moving into downtown.” And he should know—he shuttles them back-and forth between the Staples Center’s one-big open sports-bar scene and rental apartment towers, which spring up and shoehorn in among office buildings and decked parking garages east…Read More