Explore Amazon Prime Day sales success and Blackstone earnings with experts from Bloomberg Intelligence. Delve into the U.S. economy outlook, United Airlines earnings, and commercial real estate state. Learn about asset managers, specialized support, Federal Reserve policies, Airbus and Boeing sales, and real estate growth strategies.
Howard Hughes attributes high office occupancy to worker migration and coastal companies following suit.
Successful multifamily housing portfolio growth due to addressing demand for affordable housing and expanding into new markets.
Deep dives
High Occupancy Rates in Office Space
The podcast discusses how Howard Hughes, a publicly traded company, maintains high occupancy rates of close to 90% in its 6.8 million square feet of office space, defying national trends. The company attributes this to the migration of educated workers from coastal cities to their communities, leading to companies following suit, occupying their office spaces.
Successful Multifamily Housing Portfolio
Howard Hughes has a successful multifamily housing portfolio with the multifamily units showing positive growth year over year. The company's portfolio remains high in the high 90s occupancy, with rents increasing year over year. This success is attributed to addressing the demand for affordable housing in their communities.
Growth Strategies and Market Expansion
The company focuses on expanding its existing communities like the Woodlands and Summerlin, meeting the growing housing demands in those areas. Additionally, Howard Hughes has ventured into new markets like Phoenix, where they aim to address housing shortages and boost new home constructions through strategic land acquisitions and sales.
Impact of Interest Rates on Real Estate
Despite higher interest rates, Howard Hughes has benefited from increased demand for new home constructions due to limited resale inventory. The company has experienced significant demand growth in home sales, and the rising rates have positively impacted the home building market, contributing to stronger margins for builders. Howard Hughes remains optimistic about future interest rate trends, anticipating moderate decreases by the end of the year.
Poonam Goyal, Senior U.S. E-Commerce and Retail Analyst at Bloomberg Intelligence, discusses Amazon Prime Day results. Paul Gulberg, Bloomberg Intelligence Senior Equity Analyst, discusses Blackstone earnings. Joseph Brusuelas, Chief Economist at RSM, discusses his outlook for the U.S economy and the markets. George Ferguson, Bloomberg Intelligence Senior Aerospace, Defense, and Airlines Analyst, discusses United Airlines earnings. David O'Reilly, CEO of Howard Hughes, talks about the state of commercial real estate.