UCLA Real Estate Wire

GlobeSt.com: "UCLA: Eviction Moratorium Was the Right Response"

"The eviction and foreclosure moratoria was the right policy response to the coronavirus pandemic, according to a new research paper from UCLA Ziman Center for Real Estate. The paper, written by Ziman Center director Stuart A. Gabriel, reviews a study on the benefits of the foreclosure moratorium implemented after the housing crisis in California. Foreclosure prevention laws enacted in California during the Great Recession helped to curb mass eviction and hold up property values, and it is an indication that similar moratoria—this time for both foreclosures and evictions—could have a similar positive impact.

'If you look to the question of do we have evidence of the economic impacts of an eviction moratorium, the answer is that we don’t have much, but we do have this study,' Gabriel tells GlobeSt.com. 'This study went through blind peer review and is published in one of the top three academic finance journals, so it has really been through the wringer in terms of careful scientific vetting.'”

[GS: 8/11/2020]

Los Angeles Business Journal: "LA Office Market Takes a Hit"

“'The reason why it hasn’t been hit as hard is long leases,” UCLA Anderson economist David Shulman said. “And firms are still making money even though people are not in the office.'

But the market did see a negative 755,000 square feet of net absorption."

[LABJ: 8/3/2020]