June 13, 2018

1. In Palisades Park, NJ, Mayor candidate for Democratic party becomes C Chung 

  • Current Mayor James Rotundo defeated by 8 votes for his 5th term
  • He cancelled Press Interview on 12th (He might ask re-count, but circumstances are not positive including his mother’s discriminatory remarks on SNS)
  • The candidate C Chung received a congrats msg from the Governor Phil Murphy

2. New Condo Construction near Wall St, Manhattan 

  • 130 William St / 800 FT Tall / 66 story / 244 units
  • Price: Studio → From $650,000 / 1 Bedroom → From $1.11 Million
             2 Bedroom From $2.6 Million / 4 Bedroom → From $5.42 Million
  • Marketed by Corcoran’s Sunshine Group Presale starts at the end of June So far about 3000 inquiries
  • Designed by Sir David Adjaye (British designer, born in Africa Keyna) → Designed African-American culture center at Smithsonian museum

3. Building in Brooklyn Williamsburg sold at $18.85 Million 

  • 134-136 Broadway / 6 story building / Total 23,063 SF / Built-in 1901
  • Buyer Hotel developer Total renovation with super hi-tech facilities

4. Overall rent in US stopped upward swing 

  • According to 'Apartmentlist', Rent in 25 big cities increased only 1~2% for a year (Until last year, 3~5% Up)
  • Rent went down in Baltimore, Chicago, Pittsburg, Portland, Seattle, St. Louis, Washington DC
  • Rent increased by 4.6%, 3.4% in Tampa, Houston respectively / In Atlanta, rent increased by 2%
  • 1 Bedroom median rent: Atlanta: $1,008 / Chicago: $1,067 / Houston: $834/ NYC: $2,065
                                       Portland: $1,128/ Seattle: $1,318 / Tampa: $983 / Washington DC: $1,311

5. Gig Economy workers becomes easier to get mortgage 

  • Fannie Mae and Freddie Mac are new policy for Gig Economy workers
  • Gig economy: Freelancers, Uber drivers, AirBNB workers, etc. 20~30% of whole work force in US Unstable income source from mortgage banker’s point of view
  • Ignoring this sector (Is not realistic any more)  One of important economic segments

6. In Korea, Real Estate Investment Trusts return rate hits 7.59% last year 

  • Real Estate Investment Trusts Corporation with stocks: Investment fund from multiple investors Invest in Real Estate Return profits to investors
  • Much Higher than company bonds (2.33%), Savings Interests (1.56%), Office building and strip mall’s return rate (4%)
  • 193 REITs last year (14.2% Up) Total assets: $33 Billion (36.8% Up)
  • Asset / REIT $164 Million (10.9% Up)   

7. $1.25 Trillion worth of stock value disappeared for last 3 months due to Trump’s international trade war 

  • According to JP Morgan, S&P 500 stocks lost 4.5% ($1.25 Trillion)
  • Threatening / Bluffing tactics work one-and-one negotiation, but could be dangerous result for complicated international trade situation

8. CEO Economic Outlook Index dropped first time in 2 years 

  • Dropped to 111.1 (2nd QT) from 118.8 (1st QT)
  • 132 CEO survey reveals concerns due to Trump’s foreign trade policy
  • 58% of CEOs forecasted mild impact
  • 41% of CEOs forecasted serious impact
  • 99% of CEOs watch with minor concerns  
  • CEO Round Table’s chairman is Jamie Dimon needs more competitive trade policy

9. AT & T wins: Judge clears $85.4 Billion bid for Time Warner 

  • Clears the deal that gives Pay-TV provider (Direct TV) ownership of cable channels such as HBO and CNN as well as film studio Warner Bros
  • Time Warner shares humped toughly 5% in extended trading AT&T shares dropped as much as 2 percent
  • The outcome of this trial sours a wave of deals in the telecom and media industries and vertical merger, where a company buys its supplier