Diana Ulis Miami is a settlement processor who works at the Millennium Title Abstract Company. She began working with the company in 2000, and her vast skill and experience have seen Millennium Title and Abstract Company thrive in Maryland. In addition, Ulis has been instrumental to the company’s success due to her strong commitment to customer service. Diana Ulis has strong communication skills and that she uses to ensure the clients understand the settlement process when investing in real estate properties. She updates her clients through emails and walks them through the entire process like receiving title orders, submitting title orders, closing schedules, and loan disbursement. She has also helped investors to purchase distressed properties and flip them for profit. It is no wonder Diana Ulis Miami has had a lot of success closing deals in the Mid-Atlantic real estate market working under the Millennium Title and Abstract Company. Due to the success in the Maryland market, Diana Ulis and the Millennium Title and Abstract Company have laid solid foundations to expand their services to the Miami market. It is not too far-fetched to expect that the new branch will succeed in Miami as it has in the mid-Atlantic. The demand for houses in Miami has always been high and the prices low. That is because Miami is a rural area and the job opportunities are less. But due to the pandemic, most companies are advocating for their employees to work remotely if possible. Thus, it has led to a boom in the Miami real estate market in the sales of small single-family homes, blue-collar condos, and even the Miami luxury market. However, before you purchase a house in Miami, it is vital to get a reliable settlement processor like Diana Ulis, growing her company to Miami to serve those interested in Miami real estate. Having worked as a settlement processor for over 20 years, she understands the real estate market better. She will offer you useful and unbiased information on the properties you plan on buying in Miami. In addition, she will work with you to ensure that you have a seamless time when purchasing your real estate property and that you end up getting a valid deed. Why Diana Ulis Diana Ulis Services? If you are planning to buy a house in Miami, now is the time to do so when the prices are still low. However, due to the high demand for Miami houses, the prices are likely to increase for the foreseeable future. Thus, buying a house now might help you save money. The challenge you are likely to face when investing in the property is settlement processing. Thus, it might lead to you having a hard time getting into the real estate market. If that is the case, it is best to seek Diana Ulis and Millennium Title Abstract Company’s services. When you seek the service, you will get information like the bills you have to cover and who is liable for them. Ulis and her team will be willing to answer any questions you might have about investing in Miami. They will also guide you on how to get the best rates and the process to use that will help you get the most from the transaction. Working with Ulis will help increase your ROI as she will take the time to review the market condition and ensure that you get the best rates possible. If you find the whole process overwhelming, Ulis and her team have created an online calculator that will help you understand the closing costs better. Ulis will also do the legwork for you to ensure that you get all the documents, patents, and deeds within a short time. The challenge most people have is to get their deeds once they have bought the house. Some investors have to spend a significant amount of money to get movable properties. But that is not the case when you hire Ulis. She will work to ensure that you have gotten the document you need without overspending. Another challenge you might get when buying a real estate property in Miami is filling the numerous forms. When buying real estate property, you will find many types of foam that you will have to fill. A slight mistake could drag the process of buying the house longer than needed. But you can avoid this by hiring Diana Ulis Miami and Millennium Title Abstract Company to assist you with the process by correctly filling out the multiple files. The other reason might have a hard time investing in Miami Real estate is the lack of proper communication. It can be a challenge for you to know how to communicate with the various parties involved, which might eventually drag the process more than necessary. But when you hire Ulis and her team, they will ensure prompt and corresponding communications so that the transaction can be smooth. If you are contemplating purchasing a new property in the Miami area, you should get the best settlement processor to assist you. Get someone who has been tried, tested, and has gotten the reputation of offering the best service to the clients. Diana Ulis and Millennium Title Abstract Company will soon help make purchasing a real estate investment in Miami easy. With that in mind, you can be assured that you will get the most out of the investment and that it will be an easy time when investing in your Miami home.Diana Ulis Has Plans To Expand Her Services In Miami
Diana Ulis Miami Is More Than Ready to Help You
REAL ESTATE
NewLake Capital Partners Rings – GuruFocus.com
NEW CANAAN, Conn., Oct. 26, 2021 (GLOBE NEWSWIRE) — NewLake Capital Partners, Inc. (OCTQX: NLCP) (“The Company” or “NewLake”), a leading provider of real estate capital to state-licensed cannabis operators, today announced that it recently rang the opening bell at the OTC Markets Group, which can be viewed on the OTC Markets Twitter page. David Weinstein, Chief Executive Officer, held an exclusive interview with the OTC Markets, which can be viewed on the Company’s website: https://ir.newlake.com/. “We are thankful to the OTC team for inviting us to celebrate this important milestone for NewLake,” said David Weinstein, Chief Executive Officer of NewLake Capital. “We remain committed to meeting the rising need for capital as the cannabis sector continues its rapid growth trajectory.” About NewLake Capital Partners, Inc. NewLake Capital Partners, Inc. is an internally-managed real estate investment trust that provides real estate capital to state-licensed cannabis operators through sale-leaseback transactions and third-party purchases and funding for build-to-suit projects. NewLake owns a portfolio of 27 cultivation facilities and dispensaries utilized in the cannabis industry that are leased to single tenants on a triple-net basis. Forward-Looking Statements This press release contains “forward-looking statements.” Forward-looking statements can be identified by words like “may,” “will,” “likely,” “should,” “expect,” “anticipate,” “future,” “plan,” “believe,” “intend,” “goal,” “project,” “continue” and similar expressions. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs and expectations. Forward-looking statements, including statements regarding the timing of settlement and the use of proceeds of the initial public offering, are based on the Company’s current expectations and assumptions regarding capital market conditions, the Company’s business, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, changes in the condition of the U.S. economy and, in particular, the U.S. real estate market. Contact Information: Investor Contact: Media Contact:
Anthony Coniglio
President and Chief Investment Officer
NewLake Capital Partners, Inc.
[email protected]
Valter Pinto, Managing Director
KCSA Strategic Communications
[email protected]
PH: (212) 896-1254
McKenna Miller
KCSA Strategic Communications
M[email protected]
PH: (212) 896-1254
U.S. REITs And Stocks Were Last Week’s Top Performers
US risk assets refuse to go quietly into the night. Although the recent correction was the longest and steepest since the pandemic recovery began in the spring of 2020, it appears that the latest slide was another bit of noise in an ongoing bull market, based on a set of ETFs through last week’s close (Oct. 22). Leading the rebound last week for the : US real estate investment trusts (REITs). Vanguard Real Estate Index Fund ETF Shares (NYSE:) rallied 2.5%, posting a second straight weekly gain. The pop lifted the fund within shouting distance of a record high, as shown in the weekly chart below. What’s driving REITs higher? Some analysts predict that the pickup in inflation will support firmer earnings for property shares. This outlook is partly based on expectations that property managers can raise rents during periods of higher inflation and pass on the additional earnings to shareholders. US stocks were last week’s second-best performer. Vanguard Total Stock Market Index Fund ETF Shares (NYSE:) rose for a third week, ending on Friday at just slightly below a record high. Overall, it was a mixed week for the major asset classes. The biggest setback: government bonds in emerging markets. VanEck J.P. Morgan EM Local Currency Bond ETF (NYSE:) resumed its slide, dropping 1.1% for the week. The fund is close to its lowest level since March. The Global Market Index (GMI.F)—an unmanaged benchmark (maintained by CapitalSpectator.com) that holds all the major asset classes (except cash) in market-value weights via ETF proxies—continued to push higher, rising 0.9% last week and closing in on a record high. ETF Performance Weekly Total Returns US REITs are also in the lead for the one-year performance window: VNQ is up a red-hot 41.4% on a total-return basis. US stocks are the second-best one-year performer for the major asset classes: VTI is ahead nearly 35% for the 12 months through Friday’s close. The weakest performer for the trailing one-year window: government bonds in foreign developed markets. SPDR® Bloomberg Barclays International Treasury Bond ETF (NYSE:) is down 4.0% for the past year. GMI.F’s one-year return, on the other hand, is a strong 22.6%, which highlights the continued strength for globally diversified strategies of late. ETF Performance Yearly Total Returns Most of the major asset classes continue to post low drawdowns. In a sign of the times, US stocks (VTI) ended last week with the smallest peak-to-trough decline: a thin 0.2% below its previous peak. Drawdown Distribution Histories
Has Zillow’s Collapse Signaled A Warning For The Capital Markets?
Watching Zillow Group (NASDAQ:) move from over $200 per share to recent levels below $90, reflecting a more than 55% collapse in price, while the housing market continues to rally may be an indication that traders/investors have already discounted the future peak in the US capital markets and Real Estate assets related to the current market environment. Zillow is not the only symbol experiencing this broad price decline. Redfin (NASDAQ:) has also declined more than 54% over the past 7+ months. The peak in these stocks happened near February 16~22, 2021. This date, interestingly enough, aligns with a peak in global capital markets using my proprietary Smart Cash Index and a very clear peak in the Chinese . Recent news that Zillow halted the purchases of homes using its “Zestimate” and Ibuyer programs, which act as a purchase, renovate, flip-type of market service allowing home sellers to get an almost instant purchase offer from Zillow has raised questions in my mind related to the potential risks involved in owning large quantities of real estate assets in a shifting market. This news article suggests Zillow has over 2800 US homes available for sale. We are not aware of how many homes have been purchased and are waiting for completed repairs/inspections before they go on the market. This article also suggests other flipping companies are still actively engaging in this risky activity. Opendoor (NASDAQ:) peaked at share price near the same February dates this year but has continued to acquire and flip more homes than Zillow over the past 5+ years. Redfin, yet another flipper company, also continues to engage in buying, renovating, and flipping real estate in hot US markets. My thinking is the rally in Real Estate prices, in some cases, more than 35%, which started near the end of 2020 and carried into the first two quarters of 2021 a very risky race to acquire and flip hot market real estate at a time when labor shortages and commodity price rallies pushed the costs of “flipping” even higher may have put extended pressures on these firms to “flip for profits”. Then add into this mix the Chinese/Asian Real Estate market concerns and the potential that Chinese/foreign market buyers may have moved away from the super-heated US Real Estate market recently while US consumers are starting waiting for the US Fed to potentially raise interest rates and we have a very interesting storm on the horizon. These Flipper firms are holding large quantities of Real Estate assets where their purchase price likely reflects the dramatic increases in selling prices over the past 15+ months and is further complicated by supply-side costs for raw materials, labor, and equipment to complete the refurnished property while consumers may be starting to shift away from the “buy it at any cost” type of mentality. Could the collapse in Zillow, Redfin, and OpenDoor reflect the underlying risks of an overly aggressive buying/flipping algorithm event? This Daily chart for Zillow Group (NASDAQ:) clearly shows the extended price decline that has taken place over the past 7+ months. What is interesting is that the US major indexes continue to push higher and Real Estate prices continue to push higher while traders/investors are obviously not sharing the same bullish enthusiasm in Zillow, Redfin, and Opendoor. A price collapse of over 50% is a big downside price trend for these types of companies. Consider the fact that they are buying thousands of homes across the US, which likely suggests they are taking on close to a $500m to $1b+ in assets/risk while attempting to quickly flip these properties for moderate profits. In a hot Real Estate market with strong buyer activity, one would think owning these hot assets would push traders/investors to believe “future profits are almost certain”. Yet that is clearly not the case on this chart. Could it be that traders/investors are more keenly aware of the extended risks related to a potential US/global housing market bubble and the underlying liabilities related to a more extended downturn in this sector? Obviously, traders/investors have not been super excited about future potential profits for these firms recently. Maybe something will change in the near future? If not, this downward price trend suggests traders believe the risks outweigh the potential gains. This Weekly Zillow chart shows how quickly the price trend reversed direction in February 2021. Remember, this date also aligned with a peak in the Chinese Index and likely represented a broad shift in investor sentiment as dynamics suddenly changed in the global Real Estate sector. Still, the price of Zillow Group shares is near $90—more than 400% higher than the COVID low price levels and more than 200% more than the pre-COVID average price level. Are these price declines a warning that the Real Estate market/sector has shifted away from the active “flipper” mode and transitioned into more conservative expectations? After these extended downtrends in price levels for these Real Estate/Flipper firms, it seems likely that some type of base/bottom will likely set up, which may prompt a new rally phase or a breakdown below this base/bottom level. I believe these trends reflect broad market concerns related to the super-heated Real Estate market over the past 15+ months. In short, I believe this extended price decline highlights inherent risks related to the type of investments and potential returns on those investments. Traders should cautiously watch how this trend plays out over the next few months. Over the next 12 to 24+ months, I expect very large price swings in the US stock market and other asset classes across the globe. I believe the markets are starting to transition away from the continued central bank support rally phase and may start a revaluation phase as global traders attempt to identify the next big trends. Precious Metals will likely start to act as a proper hedge as caution and concern start to drive traders/investors into Metals.Is The Peak In Real Estate Flippers Prices Sending A Strong Warning For Traders/Investors?
Zillow Daily Chart Clearly Reflects Investor Sentiment Compared To US Major Indexes
Zillow Group Weekly Chart
US real estate millionaire Durst charged over murder of his wife in 1983
Millionaire real estate scion Robert Durst has been charged with the murder of his first wife, Kathie Durst, nearly four decades after she disappeared and only days after he was sentenced to life in prison in California for killing a confidante who helped him cover up the crime. Authorities in the New York City suburbs confirmed yesterday that they have charged Durst (78), whose lawyers say has been hospitalised on a ventilator in Los Angeles after testing positive for Covid-19. A state police investigator filed a criminal complaint on Tuesday in a town court in Lewisboro, New York, charging Durst with second-degree murder in the death of Kathie Durst, who vanished in 1982. He had not been previously charged in her disappearance. The case attracted renewed public interest after HBO aired a documentary in 2015 in which the eccentric heir appeared to admit killing people, stepping off camera and muttering to himself on a live microphone: “Killed them all, of course.” Robert Abrams, a lawyer for Kathie Durst’s family, said in a statement: “Robert Durst has now been formally charged with the murder of Kathleen McCormack Durst. We are very happy with this development. At this time, however, we will not be making any further comments until the grand jury process is completed.” The one-page felony complaint filed in Lewisboro cites evidence in the files of the Westchester district attorney, the New York State Police and the Los Angeles district attorney, as well as “conversations with numerous witnesses and observations of defendants, recorded interviews and observations of Mr Durst’s recorded interviews and court testimony in related proceedings”. Kathie Durst was 29 and in her final months of medical school when she was last seen. She and Robert Durst, who was 38 at the time, had been married nearly nine years and were living in South Salem, a community in Lewisboro. Her body was never found. At the request of her family, she was declared legally dead in 2017. The complaint charging Robert Durst bears the name of state police investigator Joseph Becerra, who reopened the probe in 1999 after receiving a tip about Kathie Durst’s disappearance. Authorities searched a lake and the couple’s home but turned up little evidence, with Mr Becerra equating the search to “a needle in a haystack”. Mr Becerra testified in July at Robert Durst’s California trial that he wanted to interview Durst’s friend, Susan Berman, but never got the chance because Durst shot and killed her in 2000. Los Angeles prosecutors said Durst killed Ms Berman because she was preparing to confess to police how she helped him cover up Kathie Durst’s death. After Ms Berman’s death, Durst went into hiding, disguising himself as a mute woman living in a cheap apartment in Galveston, Texas. There, he killed a neighbour and chopped up his body, but was later acquitted after telling the jury he did it in self-defence. Durst’s family owns more than 16 million square feet of real estate in New York and Philadelphia. In the HBO documentary The Jinx: The Life and Deaths of Robert Durst, Durst admitted he made up details about what happened the night Kathie disappeared because he was “hoping that would make everything go away”.
Investors are rushing to buy up more rental homes » RealtyBizNews: Real Estate News
As demand for single-family rental homes soars amid a growing preference for bigger, more spacious homes, data published this week shows investors are flocking to the market to buy up more stock. A report from CoreLogic this week shows that rents across the U.S. rose by an average of 9.3% in August compared to the same month one year ago, compared to a 2.2% increase that year. For the first time since the coronavirus pandemic emerged last year, every single major metropolitan housing market in the U.S. saw positive rent growth. The biggest gain was seen in Miami, where rents increased by 21% on average, followed by Phoenix at 19%. Las Vegas was third, with rents there growing by 15%. CoreLogic economist Molly Boesel noted how converging economic trends are responsible for this upsurge in single-family rent prices, with rising consumer confidence leading to increased demand for homes from both renters and buyers. “The ongoing preference toward more living space, and the slim for-sale inventory, is forcing would-be buyers back into renting and putting significant strain on the single-family rental market,” she said. With rents rising rapidly there’s a lot of prosperity to be had by landlords, and that has caused investors to rush into the market and buy more rental homes. A second report this week, from John Burns Real Estate Consulting, revealed there have been roughly 43 announcements totaling more than $30 billion in capital targeting U.S. rental homes. John Burns’ senior manager and researcher Danielle Nguyen said it was difficult to put a finger on the true amount invested into rental homes this year, as some of that money is only equity investment and excludes debt. There have also been many more investments in the space that haven’t been made public, she said. Nguyen said a number of factors have converged to spark investor demand, noting that worldwide bond yields are at historic lows and that investors need bigger yields. Inflation is rising too, she said, and investors traditionally see real estate as a hedge against that. Furthermore, the rapid rent growth is supported by high occupancy rates, which means rents are unlikely to decline any time soon. She added that “renters have demonstrated they are willing to pay a premium to rent in a new home neighborhood managed by a professional landlord.” “Many renters are clearly enjoying a better rental experience living with renter neighbors (instead of homeowners) and having no fear that their landlord might decided to sell the home sometime soon,” Nguyen wrote. That last claim is supported by data that demonstrates strong rent growth in higher-priced homes. CoreLogic’s report revealed that lower price rentals, which are those that cost 75% less than the regional median, saw rent prices jump 7.1% in August from a year ago. But higher priced rentals, which cost 125% or more than the regional median, increased by an average of 10.5% over the same period. Additional data from the National Association of Realtors recently showed that, even as overall home sales in August fell back slightly, investors made up a larger proportion of buyers that month. In contrast, first-time homebuyers who traditionally account for around 40% of all home sales saw their share fall to jut 29%, the lowest level in more than a decade. The NAR said this is being driven by weakening affordability as home prices rise, consequently leading to greater demand in the rental market.
Emerging Trends 2022 Report: Flexibility, Resilience to Drive Commercial Real Estate for Next Decade
Commercial real estate industry professionals suggest that adjustments made for COVID-19 aren’t going away soon. Of respondents for the Emerging Trends in Real Estate 2022 report, 71 percent either disagreed, strongly disagreed or were unsure that changes would revert back to normal next year. WASHINGTON, D.C. — Flexibility, convenience and ultimately commercial real estate’s resilience will drive the industry over the next decade as owners respond to and recover from the COVID-19 pandemic. That’s according to Emerging Trends in Real Estate 2022, an annual report jointly produced by PwC US and the Urban Land Institute (ULI). The report includes proprietary data and insights from nearly 1,700 leading real estate industry experts. Consumer expectations of traditionally designed spaces have changed, and there will likely be a massive shift in the functionality of homes, offices, shopping centers and healthcare spaces, according to Washington, D.C.-based ULI. Property markets that were once predictable will likely remain in a bubble of uncertainty, but decision-making confidence has improved since last year, the report found. Three-quarters of respondents in the 2022 survey report feeling confident making those same long-term strategic decisions compared to less than half in the 2021 survey. Property investment is top of mind for institutional investors in both traditional and alternative sectors as risk remains low and interest rates stay attractive. Urban landscapes are facing change as new land uses and updated zoning allow markets to evolve. All these factors remain under the cloud of climate urgency, prompting new ways of standardizing and measuring environmental, social and governance (ESG) requirements. As businesses approach ESG issues in the real estate sector, it will be imperative for them to take a holistic approach and create a strong overall strategy to help create sustainable advantages and value. “There is clearly an optimism within the real estate industry for its prospects in 2022 and there is undeniably a weight of capital available for investment,” says Anita Kramer, senior vice president of ULI’s Center for Real Estate Economics and Capital Markets. “Yet the ground is shifting and we are seeing long-term and lasting changes in a range of key areas, including the relative prospects for property sectors and locations; the extent to which we use various property types; and our attitudes toward the industry’s role in climate risk and decarbonization.” “An abundance of investable capital, low interest rates and a continued demand for many product types has created a positive environment for our industry,” adds Byron Carlock, PwC partner and U.S. real estate practice leader. “However, not everything is rosy, and real estate still has its challenges ahead. There are rising costs, pending tax reform and new infrastructure spending that could impact the labor market.” Carlock adds that there are various social issues that real estate stakeholders can take a leading role in helping to solve, specifically the creation and preservation of affordable housing, ESG-focused city planning and neighborhood inclusiveness. “It’s important that regulators, policy makers and business leaders work together to establish trusted standards that guide responsible behavior in our new post-pandemic reality,” says Carlock. As always, Emerging Trends featured the top 10 “markets to watch,” and again Sun Belt cities dominated the list. Survey takers were bullish on the real estate prospects of these markets, taking into account population growth, homebuilding outlook, affordability and job prospects. This year’s top 10 markets are as follows: Other highlights of the report include: This is the 43rd year of the Emerging Trends Report. It includes interviews and survey responses from nearly 1,700 leading real estate experts, including investors, fund managers, developers, property companies, lenders, brokers, advisers and consultants. To view the full report, click here. — Jeff Shaw
San Antonio ranks 21st among hottest real estate markets for 2022
San Antonio slipped to 21st in a new annual ranking of U.S. real estate markets with the best overall prospects for the year ahead and landed at eighth-best in the nation for homebuilding prospects in 2022. The rankings are part of the Emerging Trends in Real Estate report issued by the Urban Land Institute and PricewaterhouseCoopers. A year ago, it put San Antonio at 12th overall and sixth for homebuilding. The firms surveyed real estate executives about homebuilding prospects, investor demand, development opportunities and recommendations for buying, holding or selling different property types to come up with the rankings. The report also includes information about population, business costs, housing metrics and employment. Heading into next year, San Antonio ranked behind No. 4 Austin and No. 7 Dallas/Fort Worth, but ahead of Houston, which landed at 24th overall. In the top three spots were Nashville at No. 1, Raleigh/Durham at No. 2 and Phoenix at No. 3. Phoenix, Seattle, Denver, San Diego and Miami were among the cities that overtook San Antonio between the firms’ 2021 and 2022 reports. On ExpressNews.com: San Antonio home sales flat, but prices up by double digits from a year ago San Antonio is among a group of Sun Belt “magnet” cities attracting new residents and companies and generally growing faster than the U.S. average when it comes to population and jobs. “Their demographics are skewed toward faster economic growth prospects with higher proportions of millennials and gen-Xers and relatively fewer seniors and retirees,” the report states. “These metro areas are also the preferred markets for investors and builders.” San Antonio and other “Super Sun Belt” cities are “large and diverse but still affordable,” drawing a range of businesses and rebounding more quickly from the economic ravages of the coronavirus pandemic, the report adds. On buy/hold/sell rankings of various types of real estate, San Antonio ranked No. 1 for hotel property with 54 percent of those surveyed recommending it as a buy, 38 percent as a hold and 8 percent as a sell. It ranked third for retail property, with 43 percent recommending buy, 50 percent hold and 7 percent sell. It was eighth on the scale for multifamily property and 12th for industrial property. The national economy and real estate markets have recovered from the coronavirus pandemic faster than executives said they initially expected. On ExpressNews.com: Austin group under contract to buy San Antonio Express-News building But the pandemic prompted changes in how people work, shop and live, with companies moving to remote or hybrid models for office workers and more shoppers ordering groceries online. That’s affecting demand for office and retail space. “Firms will need to provide enough space for remote workers to collaborate in person, at least occasionally,” the report states. “But under almost any conceivable scenario, firms will be leasing less space in the future than before.” As home prices and rents rise and residents of pricey cities relocate to smaller markets, housing affordability is another pressing concern. Increasing costs are putting home ownership further out of reach for many prospective buyers, and construction of new properties isn’t keeping pace with household formation. “Housing affordability worsened during the pandemic as the rise in both home prices and rents barely paused during the brief recession and then quickly accelerated as the economy reopened,” the report’s authors wrote. “Prices and rents are still climbing at some of the highest rates ever tracked, well ahead of relatively modest wage gains.” madison.iszler@express-news.net
Property, Commodities Led Rebound In Global Markets
Nearly every slice of the bounced last week, led by strong gains in real estate shares and commodities, based on a set of ETFs through Friday’s close (Oct. 15). The only decline was in foreign high-yield bonds. Vanguard US Real Estate (NYSE:) surged 3.5%, posting its best weekly advance since mid-September. The rally left the fund to just below its highest close since Sep. 17. It’s unclear if the latest bounce is a temporary pause in what appears to be modest correction after a long-running uptrend. The week ahead may offer insight into whether the sector is set to stabilize.
Foreign property shares are last week’s second-best performer via Vanguard Global ex-U.S. Real Estate Index Fund ETF Shares (NASDAQ:). The ETF’s 3.3% gain is the strongest weekly rise in nearly a year.
Commodities extended their rally for a fourth-straight week. Posting a third-place gain last week, WisdomTree Continuous Commodity Index Fund (NYSE:) increased 3.2%.
US stocks posted a solid advance last week too, although the 1.9% rise for Vanguard Total Stock Market Index Fund ETF Shares (NYSE:) was middling relative to the rest of the field.
The only setback on our list: VanEck International High Yield Bond ETF (NYSE:), which ticked down 0.1%. Although the latest decline was fractional, the loss marked the sixth straight weekly decline, suggesting that a strong downside trend prevails for the fund.
The Global Market Index (GMI.F) — an unmanaged benchmark (maintained by CapitalSpectator.com) that holds all the major asset classes (except cash) in market-value weights via ETF proxies — rose for a second week, posting a strong 1.7% increase.
ETF Weekly Total Returns Chart
For the one-year window, US REITs are in the lead for the major asset classes. VNQ is up a sizzling 35.3% on a total-return basis. US stocks (VTI) and commodities (GCC) aren’t far behind in second and third place, respectively.
The only one-year declines at the moment: US bonds () and foreign government bonds (), each posting a modest loss at Friday’s close vs. the year-earlier level after factoring in distributions.
GMI.F’s one-year performance is a strong 21.0% total return.
ETF Yearly Total Returns Chart
Most of the major asset classes continue to post low drawdowns. US junk bonds () currently enjoy the smallest peak-to-trough decline – a thin -0.4%. The majority of markets are no deeper than -7%. Commodities and emerging-markets government bonds are the main outliers at -25.1% and -14.4%, respectively.
GMI.F’s current drawdown is a mild -1.7% as of last week’s close.
Drawdown Distribution Histories
Mortgage lender UWM drops bitcoin payments plan, for now » RealtyBizNews: Real Estate News
Homeowners have shown little interest in paying off their mortgages with bitcoin and other cryptocurrencies, causing United Wholesale Mortgage to ditch its plan to start accepting digital currencies as payment. UWM first announced its plans to embrace cryptocurrencies in August, and began a pilot project enabling a select number of mortgage holders to start making repayments shortly thereafter. The move hit the headlines at the time as it was an industry first, and crypto advocates hoped it would be another step towards mass adoption. But according to UWM Chief Executive Mat Ishbia, there just aren’t enough interested customers to make it worthwhile. “Due to the current combination of incremental costs and regulator uncertainty in the crypto space, we’ve concluded we aren’t going to expand beyond a pilot a this time,” he told CNBC in an interview. UWM is the U.S.’s second-biggest mortgage lender after Quicken Loans, despite not being a household name. The company works solely through wholesale channels, which means that it employs numerous brokers who help to connect clients to home loans. Ishbia told CNBC the company had tried three different cryptocurrencies – bitcoin, ethereum and dogecoin – during its pilot, and targeted multiple different types of borrower to see how the process would work. The company accepted its first ever crypto mortgage payment in September, and five more followed in October. However, Ishbia told CNBC the demand simply isn’t there. Although some borrowers liked the idea and thought it was “cool”, being able to transact in crypto just “wasn’t a driver”, he said. The lack of demand for crypto-based mortgage repayments is perhaps evidence of what many cryptocurrency naysayers argue – that crypto users primarily see it as an investment rather than a replacement for money. Crypto prices have risen spectacularly this year, but the vast majority of transactions continue to be trades as opposed to people buying and selling things or paying for services. That’s not to say bitcoin and other cryptocurrencies are bad investments, as many proponents claim they’re more a store of value than a currency for transacting. And of course, the value of bitcoin today is more than five-times what it was this time last year. Ethereum, meanwhile, is up more than 10 times. U.S. Treasury Secretary Janet Yellen and SEC chair Gary Gensler have both said this year they have no plans to restrict crypto trading. However, President Joe Biden’s proposed infrastructure bill does include new reporting requirements for “cryptocurrency brokers”. Those requirements have caused some unease in the crypto space, with prominent players such as the crypto exchange Coinbase, and the venture capital firm Andreesen Horowitz both asking regulators for more clarity on what they mean. For UWM, had it gone ahead with its plan to accept crypto, the new regulatory requirements probably wouldn’t have affected it as it did not hold any cryptocurrencies. Rather, it converted the tokens to fiat at the point of transaction. However, CNBC said that the six homeowners who took part in UWM’s pilot may now be taxed due to the crypto transactions they made. The Inland Revenue Service classifies digital currencies as property, which means a mortgage payment in bitcoin is a taxable event. Because there’s usually always a difference in what someone paid for their crypto, which is the ‘cost basis’ and the market value at the time they spend it, that difference can trigger income capital gains taxes, in addition to other taxes that may apply such as sales tax. Shehan Chandrasekera, Head of Tax Strategy at CoinTracker.io, a company that helps customers track their crypto portfolios and manage their tax obligations on that, told CNBC the taxes associated with crypto can be complex. “One thing that a lot of people don’t realize is that whenever you spend cryptocurrencies to buy a cup of coffee, or any type of consumer item, that triggers a capital gains event,” Chandrasekera said. It isn’t clear if the potential tax bill explains why homeowners shy away from making mortgage payments in crypto, or if their reluctance is due to other reasons. Whatever the case may be, UWM didn’t rule out one day accepting crypto again in the future, with Ishbia telling CNBC that the company is merely shelving the project for now. “If crypto becomes more mainstream, we’re able to turn it on any day,” he said. “We know how to do it now.”