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Deconstruct

Latest episodes

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May 8, 2023 • 28min

Fannie Mae’s Chief Economist on How Bank Collapses Spurred a Fed Pause

After approving another rate hike, The Federal Reserve left the door open for an interest rate pause when it meets next in June. Fannie Mae’s Chief Economist Douglas Duncan details how a trio of bank collapses helped drive that potential pause and what a mild recession means for the mortgage market.
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May 1, 2023 • 25min

Inside First Republic’s Woes

In the wake of the collapse of Silicon Valley Bank and Signature Bank, First Republic, a prominent mortgage lender in San Francisco, lost billions in deposits. But what does that mean for lending and can the bank survive? The Real Deal's Isabella Farr looks at First Republic Bank's financial health and how some of its long-term mortgages are posing issues for the bank's balance sheet. Plus, Deconstruct chats about the New York state budget and New York Community Bank’s earnings. Disclaimer: This story was recorded before the FDIC seized First Republic Bank and sold it to JPMorgan on Monday morning. Credits: Yahoo! Finance, ABC News
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Apr 24, 2023 • 22min

Can Airbnb Bridge the Landlord-Tenant Divide?

Last November, Airbnb launched its tenant-friendly apartment venture, a product that allows renters to list units with their landlords’ consent. The firm pegs the service as a win-win that offers on-the-books income for tenants and perks for owners. Jesse Stein, Airbnb’s global head of real estate breaks down the product’s potential and which national landlords are already on board.
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Apr 17, 2023 • 21min

Who Flakes On The Flatiron Building?

When Jacob Garlick, a relative unknown in the small world of New York real estate, secured the winning bid on the Flatiron building, he told NY1 the moment had been a “lifelong dream since he was 14 years old.” Two days later he flaked on the down payment. The Real Deal's Deconstruct chats with senior reporter Keith Larsen on the man behind the botched buy and why Garlick is still gunning for the building. Credits: NY1
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Apr 10, 2023 • 19min

The Robots Are Coming: Should Real Estate Worry?

The launch of ChatGPT last year presented an existential problem for residential brokerage: Would the new tech transform into a beloved virtual assistant or the type of threat that could undermine their role in real estate?
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Apr 3, 2023 • 19min

Keeping The Heat: Inside Miami’s Luxury Market

We all know the story: wealthy buyers flocked to pour money into homes in South Florida. But is the demand still there, given rising interest rates? The Real Deal's Deconstruct chats with TRD's residential bureau chief Katherine Kallergis about how the market has softened, but some are plowing ahead with exorbitant buys. Plus, Deconstruct chats about the Flatiron building, Chicago's upcoming election, Blackstone's multifamily loans and First Republic's balance sheet. Subscribe to The Real Deal now for more blockbuster real estate news, trends, profiles, analysis and more. Credits: CBS News
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Mar 27, 2023 • 23min

From The '90s to Now: Making Sense of CRE's Downturn

As distress descends on commercial real estate, Deconstruct analyzes how past financial crises can inform how borrowers, banks and policy makers handle this down cycle. Guests include: Bob Knakal, JLL Senior Managing Director, Head of New York Private Capital Group; and Sam Chandan, Professor of Finance and Director of the Chao-Hon Chen Institute for Global Real Estate Finance at the New York University Stern School of Business.
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Mar 20, 2023 • 29min

An ‘Existential Weekend’: How Two Bank Collapses Roiled Real Estate

Let's talk about last week. The Real Deal’s Deconstruct explains the catalysts behind the collapse of Silicon Valley Bank and Signature Bank last week and the lasting impact on regional banks, real estate lending and the Fed’s next steps. Credits: CNBC, ABC News, NBC News, CBS, CNN, Forbes
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Mar 13, 2023 • 25min

Inside Downtown LA’s Pain Points

Brookfield has defaulted on $784 million worth of loans connected to office towers in Los Angeles. Starwood foreclosed on the completely vacant Broadway Trade Center. A deal to sell a 40-story tower has been delayed for the 10th time. So what is going on with Downtown L.A.‘s office market? Deconstruct chats with Michael Soto, a research director at Savills, about the pain we’re seeing across the city’s center and how we ended up here. Credits: CNBC
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Mar 6, 2023 • 33min

As Equity REITs Flounder, Fundrise CEO is Bullish on Credit

For the past year, public real estate investment trusts that own or manage office buildings, hotels and multifamily have traded at steep discounts as investors feared rising rates would take a whack to profits and property values. Amid that downturn, Ben Miller, CEO of investment platform Fundrise, has set his sights to credit. Tune in for the lowdown on why Miller sees opportunity in debt and which asset classes he’s eyeing once equities markets recover.

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