A newly single mom in Irvine, California, thought a $1.3 million divorce settlement would provide stability after what she described as a “really hellacious divorce.” Instead, she found herself staring at an $8,000 monthly rent bill that had her saying, “It almost feels illegal.” She called into “The Ramsey Show” recently to ask what to do next. Irvine Prices Don’t Care About Divorce Settlements Karen, a full-time mom with two teenagers at home, finalized her divorce after five years of legal battles. ...

Total Fourth Quarter Revenue of $71.1 Million, Adjusted EBITDA of $22.4 Million DENVER, Feb. 19, 2026 /PRNewswire/ --Â Fourth Quarter 2025 Highlights (Compared to fourth quarter 2024 unless otherwise noted) Total Revenue decreased 1.8% to $71.1 million Revenue excluding the Marketing Funds1 decreased 0.4% to $53.6 million, driven by a negative 0.4% organic revenue growth2 and flat foreign currency movements Net income attributable to RE/MAX Holdings, Inc. of $1.4 million and income per diluted share (GAAP E ...

Financial Data and Key Metrics Changes - Comparable FFO for 2025 was $2.32 per share, slightly higher than 2024 and better than anticipated [26] - Fourth quarter comparable FFO was $0.55 per share, down from $0.61 per share in Q4 2024, primarily due to higher net interest expense [26] - Same-store GAAP NOI increased by 5% for the quarter, while same-store cash NOI decreased by 8.3% [27] Business Line Data and Key Metrics Changes - In 2025, the company leased 4.6 million sq ft of office space, with 3.7 million sq ft in Manhattan, marking the highest leasing volume in over a decade [6] - Average starting rents in Manhattan were $98 per sq ft, with mark-to-markets of +10.4% GAAP and +7.8% cash [7] - Office occupancy rose from 88.8% to 91.2% in 2025, driven by significant leasing activity [12][28] Market Data and Key Metrics Changes - The New York office market is experiencing a tightening landlord's market, with robust tenant demand from finance and tech sectors [4] - The financing markets for Class A assets are strong, with CMBS spreads at their tightest since 2021 [29] - The company has a liquidity of $2.39 billion, including cash balances of $978 million and undrawn credit lines of $1.41 billion [22] Company Strategy and Development Direction - The company is focused on its Manhattan-centric office strategy, with significant developments planned, including 350 Park Avenue and 623 Fifth Avenue [5][15] - The company aims to capitalize on the shortage of large blocks in better buildings by bringing prime space to market [14] - The management team is committed to maintaining a highly liquid, cash-heavy balance sheet while exploring stock buybacks [22][24] Management's Comments on Operating Environment and Future Outlook - Management believes the current fundamentals in Manhattan are the best in 20 years, with expectations for continued tightening in the landlord's market [4] - The company anticipates significant earnings growth in 2027 as the positive impact from PENN 1 and PENN 2 lease-up takes effect [28] - Management acknowledges the disconnect between stock price and asset value, viewing current stock buybacks as an attractive investment opportunity [24][25] Other Important Information - The company has extended maturities on nearly $3.5 billion of debt through 2031 and has been active in refinancing to bolster liquidity [23][30] - The acquisition of 623 Fifth Avenue is viewed as a strategic move, with plans to create a high-quality boutique office space [15][16] - The company is also developing a 475-unit rental residential building on 34th Street, expected to break ground in the fall [19] Q&A Session Summary Question: Changes in the structure of 350 Park Avenue - Management confirmed that there were amendments related to the overall deal, providing flexibility in equity percentage [35] Question: Overall leasing pipeline and tenant conversations - The leasing pipeline remains strong, with over half of the activity from new tenants and significant expansion from financial services and law firms [40] Question: Cash and GAAP same-store NOI difference - Management expects to see cash NOI turn positive in the second half of 2026 as free rent periods end [45] Question: Retail market conditions on Upper Fifth Avenue - The retail market is improving but still struggling to meet top-tick rents from four or five years ago [48] Question: Difference between GAAP occupancy and leased occupancy - The $200 million difference is not annualized and will be recognized as tenants build out their spaces [51]

Core Insights - The overall performance of the Hefei real estate market in 2025 is characterized by a "volume decline and price stability" for new homes, with a slight year-on-year increase in average transaction price by 0.6% [1][2]. - The second-hand housing market, however, shows a "volume increase and price decline" trend, with transaction volume rising by 9.5% year-on-year, while average transaction price decreased by 19.6% [1][3]. New Housing Market - The new housing market in Hefei is experiencing a stable operation with a supply-demand ratio of 0.83, indicating a decrease in both supply and transactions [2]. - The Baogao District leads in transaction volume with a 32.5% share, followed by Yao Hai District and New Station District at 13.3% and 11.6% respectively [2]. - The inventory of commercial residential properties in Hefei has decreased by 9.5% year-on-year [2]. - Buyers are increasingly focused on housing quality and comfort, with many willing to wait for better opportunities [2]. Second-Hand Housing Market - The second-hand housing market in Hefei is characterized by a significant increase in transaction volume and a notable decrease in prices, with the average price in the Binhu New District dropping by 22.1% [3][4]. - The average negotiation space for second-hand homes has increased by 4.6 percentage points, indicating a shift towards a buyer-dominated market [3]. - The Binhu New District leads in transaction volume with a 12.3% share, followed closely by Baogao District and Luyang District at 12.0% and 11.6% respectively [3]. - Policies have become more favorable for first-time homebuyers, with lower loan interest rates contributing to a perceived good timing for entry into the market [4].

Core Insights - The acquisition of the Huaxiang 0001 land parcel by Beijing Construction Group is seen as a significant event in the Fengtai real estate market, with a notably low floor price of 42,000 yuan per square meter, which is expected to disrupt the local market dynamics [2][12][26] Group 1: Market Overview - Fengtai's real estate market is currently sluggish, with a total of 12,729 units available across 19 projects, and an expected new inventory exceeding 10,000 units [20][21] - The average signing rate for the 19 projects is 40.19%, with the top three projects achieving rates of 98%, 81%, and 75.57% respectively [21][22] - The average land price coverage rate across 17 projects is 61.61%, indicating a competitive pricing environment [23] Group 2: Impact of Huaxiang 0001 Land Parcel - The Huaxiang 0001 land parcel's pricing strategy is expected to significantly impact nearby projects, particularly Beijing Yuxi Song, which is already facing challenges with a signing rate of 26.2% and an average price of 78,500 yuan per square meter [15][26] - The introduction of the Huaxiang 0001 parcel is likely to create a competitive pricing pressure on existing developments, categorized into three tiers based on their vulnerability to this new entry [12][26] - The projected pricing for the new development is suggested to be around 75,000 yuan per square meter, which would still allow for profitability given the low floor price [10][12] Group 3: Key Metrics for Analysis - Three critical metrics for understanding the Fengtai market are the signing rate, land price coverage rate, and price gap (缝差) [21][26] - The maximum price gaps among the projects indicate varying levels of pricing strength, with the highest gaps being 45,400 yuan, 38,700 yuan, and 36,700 yuan per square meter for specific projects [24] - The analysis suggests that projects like Xihua Tai, Guancheng Phase I, and Huaxiang No. 1 are positioned as the biggest winners in the current market landscape [26]

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What are you seeing in New York City, whether it be office or multifamily. Because after the election of mom Donnie as mayor, all these grand projections, oh, we're all going to leave New York. Things are going to be really bad.Has there actually been any signs of initial changes in the New York City real estate market. There there really hasn't yet, Danny. I mean, it's still early days, right.The the mayor elect hasn't been inaugurated yet. Um, we haven't seen that pullback or change. We do believe that Ne ...