First Farmers Bank & Trust’s Post

‘Will’ (dya see what I did there….?!) we see you there?! No expectation for golf, just come and see how we can help your Clients (and your business) in terms of Will, LPA and Trust provision…. #willsandtrusts #legalservices

BBB helps to build stronger communities by promoting transparency and fairness in the marketplace. When consumers can trust the businesses they interact with, they're more likely to feel confident in their local economy and support it by shopping locally. Support your community by becoming an Accredited Business today. #BBBHelps #BBB #BBBAccreditedBusinesses #StartWithTrust

The Organisation for Economic Co-operation and Development (OECD) forecasts the UK to grow at 0.7% next year and 1.2% in 2025, slightly behind the Euro area which is projected to grow at 0.9% next year and 1.5% in 2025. The November Consumer Panel Services GfK’s consumer confidence index came in at -24, up from -30 last month, suggesting a relatively cheerful consumer heading into the festive period.   British Retail Consortium reported that food price inflation dropped to 7.8% in November, down from 8.8% in October and well below the 19% levels in the Spring. Ares Management Corporation has sold Kingsway West, Dundee, Retail Park to Realty Income Corporation for £30m+, reflecting a net initial yield of c. 9%.   Aware Super, the Australian pension fund is to invest £5.25 billion into the UK and European markets.   Oxford Properties Group and Temasek are close to securing a £280m refinancing of the Blue Fin building on London’s Bankside through Singapore’s United Overseas Bank (UOB).   Otera Capital, the real estate lending business of the Caisse de dépôt et placement du Québec (CDPQ), and RBC Capital Markets have provided a £525m loan facility to Blackstone owned St. Modwen to support the development of a 5m sq ft logistics portfolio.   John Lewis & Partners reported Black Friday purchases up 2% on last year and 12% on 2021, making it their busiest shopping day on record.   Mountain Warehouse is increasing new store openings, with opening a new branch every week in December and targeting 50 openings next year.   Caddick Developments has been granted consent to complete its £300m Soyo masterplan in Leeds, which will include two separate PBSA blocks providing 651 units.   Bank of England reports that mortgage approvals on new homes rose from 43,700 in September to 47,400 in October. Net approvals for mortgaging also increased from 20,600 in September to 23,700 in October. Further, Nationwide Building Society reports a third consecutive monthly increase in house prices – 0.2% in November. While prices are down 2% y/y, the market has not collapsed as many predicted. Mark Charlton – Real Estate Research Consultant at Waypoint   #waypointAM #Research #CapitalMarkets #Debt #Finance #AssetManagement #Retail

As we close out #FairHousingMonth, we reflect on what Walter Mondale, co-author of the #FairHousingAct, said in 2015 almost 50 years after it was passed. While FHA has done much for the US and halting discriminatory housing practices, there are still inequities in #homeownership that we must address. Inequities that NCRC will not stop fighting to correct. Join us: sign and share the #JustEconomy Pledge! https://hubs.ly/Q02vB3NX0

This is a great video about the current state of the Australian property market, without the media spin. If we want better affordability in this country it is clear we need to embrace density, both at a social and government level, and create initiatives to deliver more dwellings. In the meantime, it's hard to see prices or rents retreating with record immigration and decade low levels of approvals for new dwellings. Congrats Tommy Lim and SF Capital for some very well-produced content. #propertyinvestment #investinproperty #realestate #strategicinvestment

Big things happening in #Leeds with Bank of England announcing its expansion in the city just this week. Leeds is in fact the UKs fastest growing city with an already 32,000 vat registered companies Inc Asda Group, First Direct, Centrica, BT, Direct Line Group and Yorkshire Bank. Its also home to three internationally recognised universities, one of the largest further education colleges in the UK and Europe’s largest teaching hospital trust. More than £3.9 billion has been invested in large scale development projects over the last decade and there is a further £7.3 billion worth of development under construction and in the pipeline our latest launch being part of that number. Now, I am a massive advocate of Manchester for investors, but, for anyone looking to diversify their property portfolio or enter the market at a slightly lower premium keep your eyes on Leeds. Project coming soon ....... for pre launch info comment Leeds below or drop me a private DM #property #realestate #uk #wealth #invest #business #developments

The UK loves BBQs. In fact, there were over 65 million held by Brits last year. With their popularity and the risk they bring, we have pulled together our top tips to staying safe when having a BBQ to protect yourself, your guests and your home. ✍ Read more: https://lnkd.in/gc5GAzC9 #BBQSafety #HomeInsurance

🥑 🥗 🥫 If you are like me, and you are exhausted and scared about the high cost of #groceries in #Canada, I hope you'll join me and the 100,000+ other #Canadians who are calling for a parliamentary investigation into #Loblaws #pandemic #profiteering and #greedflation. #BoycottLoblaws

Recently, Scotland's retail landscape witnessed a six percent surge in insolvencies. As trends evolve, so does the industry. 🚴♂️ Remember the lockdown cycling craze? Overstocking woes hit major players, like Moore Large and local champions, like 2pure. 🏖️ Home hot tubs became relics as normal life returned, with Clever-Company's administration bearing witness to the shift. 🛍️Shifts away from in-person shopping and dwindling footfall impacted giants like Wilko and lesser-known gems like Wilkies. Yet, in adversity lies opportunity. Market disruption paves the way for growth, be it for seasoned retailers or newcomers. Recent acquisitions by B&M, Poundland, and The Range speak to these chances. Whether you're a retail expert or a budding entrepreneur, the evolving landscape teems with opportunities. Our expert team is ready to guide you here 👉 https://lnkd.in/eGHVz8k8  

It was wonderful to be at the California Housing Consortium conference in Anaheim on September 7. Kudos to CHC for their great work. While the panels were engaging and the awards richly deserved, much of the benefit of attending these comes from the conversations at breaks, over coffee, and at lunch. Among my takeaways, here are three: # 1 I don’t think people have fully digested the bank stress that is current and looming. Please see my last post and the WSJ on 9/6. The risk posed by CRE exposure (think empty offices) is not yet fully ring fenced. Sometimes in banking you know you probably won’t get repaid but you kick the can down the road (“extend and pretend”) and make believe you still have a performing loan on your books.  Also coming for the banks are tougher capital requirements, internal spending challenges as regulators seek further IT upgrades, and CRA reform. Affordable housing will feel the impacts.  Please don’t think our sector is immune. I think people are already feeling some of these effects, but the real hit of a full blown credit crunch isn’t here yet and what’s coming hasn’t fully registered. As I said in my LinkedIn post last week, be proactive in reaching out to your banking team including the more senior people you know and have explicit conversations about your banker’s appetite. # 2 Pipelines are and have been severely challenged. Inflation has of course been brutal in many realms including insurance. Public subsidy for many reasons has become less available. Also bank appetite (see # 1 above) has been constrained. A gusher of subsidy via the 2024 ballot would help a ton but won’t hit till 2025 if the measures pass.  There remain lots of issues to resolve including multiple ballot questions wanting to get on the ballot and voter fatigue if too many affordable housing ballot questions hit at the same time. # 3 We are still in early innings figuring out how to manage the PSH challenges. Clearly some jurisdictions and some sponsors are feeling lots of pain now, but this seems like a systemic issue and not a couple of one-offs.  If this is systemic it will require a state or federal solution. I think the development of a wider solution may be hindered by the reluctance of owner/operators to air their dirty laundry, but it seems like a challenge that calls for a coordinated, industry wide solution.  I realize exposure to PSH varies materially by sponsor but if lots of these deals go on bank watch lists, bankers may be having tougher internal conversations to get new deals approved, even those with minimal PSH exposure.  For years, many of us sold reluctant credit committees on affordable housing by telling them once we got past construction they didn’t need to worry.  Stabilized periods were incredibly stable.  Those assurances may find a more skeptical audience now. #affordablehousing #chc #cra #lihtc #cdfi