July 2024

‘Alarmist’ Prediction of Urban Doom Loop Proves True Across Country

If you want an example of just how crazy office tower valuations have become, look no further than Burnett Plaza, the tallest building in bustling Fort Worth, Texas. The massive 40-story structure was purchased via foreclosure auction for $12.3 million in May. Three years ago, the same building was sold for about $137.5 million. In other words, this tower has lost more than 91% of its value in three years.

(via Scotsman Guide)

The Fed Still Can’t Legally Fund the CFPB

Under current conditions—conditions that the framers of the Dodd-Frank Act never imagined possible—Fed payments to the CFPB conflict with the clear provisions of the Dodd-Frank Act and the Federal Reserve Act.

(via deBanked)

CFPB Delays Section 1071 Compliance

We have issued a final rule to implement section 1071 of the Dodd-Frank Act.

(via deBanked)

Paying the Piper

Mortgage maturities continue to pressure the office sector.

(via Scotsman Guide)