Tens of thousands of homeowners with adjustable-rate mortgages are facing monthly payment increases as their rates reset next year. Borrowers with seven-year ARMs from 2020 face the largest category of resets, with a median monthly payment increase of 43%, or $1,269.

Nationally, rents for industrial outdoor storage have risen 32% since 2021. But for the most in-demand markets near ports on the East Coast and in the South, rents are rising much higher, with rents up more than 110% since 2020 across the top eight markets.

Data-center capacity in eight major U.S. markets grew nearly 34% in the year that ended June 30. Even with that expansion, only 1.4% of capacity was vacant.

In 33 of the top 50 metro areas, luxury home prices are rising faster or falling slower than starter home prices.

A wide gap has opened up between the number of sellers and buyers in the housing market. In September, 1.5 million Americans were trying to sell their homes but only 929,000 people were buying. The surplus of sellers, nearly 600,000, is the largest in records going back to 2013.

Single family home demand has nosedived since mortgage rates rose above 7%. Sales of new homes per community in September normally slow by 4% on average compared with August as the buying season winds down. This year, sales fell 18%.

Tishman Speyer is taking over the Chrysler Building with plans for a makeover. The New York City developer has signed a 150-year ground lease with The Cooper Union for the 77-story Grand Central office tower at 405 Lexington Ave. The private college has owned the land since being gifted the property in 1902 by the children of its founder.

The Federal Housing Administration categorized around 50,000 loans as “seriously delinquent” as of June 30, up from 36,000 a year prior. That equates to 3.3% of all FHA loans outstanding at the close of the second quarter, a number far below the all-time high last hit in late 2020 of 11.9, but still above the most recent five-year average of 2.8%.

BDT & MSD Partners, an investment and advisory firm, is taking a majority stake in Sunrise Senior Living, the fifth largest senior housing operator in North America, while senior leadership at the privately held firm will own the rest. Sunrise operates more than 230 communities across the U.S. and Canada, serving more than 22,000 residents. The buyer values the deal at more than $1 billion, making it one of the largest senior housing deals since Covid disrupted the business in 2020.

In August, 11.42% of mortgages packaged into commercial mortgage-backed securities were in special servicing, the highest rate since February 2013.