Today’s News Synopsis:

Pending home sales decreased 2.8% last month to a yearly low.  Of all places interested in buying real estate in Florida, Russia is still at the top of the list.  More and more smaller banks are unable to lend out as much money as they are being squeezed dry by bigger banks.

In The News:

CNBC – “Pending home sales drop unexpectedly to lowest in a year, down 2.8% in January” (2-27-2017)

“Higher mortgage rates and near record low supply resulted in disappointing home sales to start the year.  House hunters signed 2.8 percent fewer contracts to buy existing homes in January compared with December, although December’s read was revised slightly higher, according to the National Association of Realtors.”

Bloomberg – “As Wall Street Thrives, America’s Little Guy Chokes on Paperwork” (2-27-2017)

“If some American banks are too big to fail, others have begun to feel they’re too small to succeed.”

Seeking Alpha – “Why Real Estate Will Never Be The Same” (2-27-2017)

“We’ll never see a near non-stop and unprecedented real estate boom like the one from 1933 to 2005 again.”

Metro.US – “Real estate brokers may have finally crossed the line with ‘SoHa'” (2-27-2017)

“Harlem’s gentrification and increasing real estate prices aren’t news at this point, but a local community board thinks certain real estate brokers have crossed a line.”

Huffington Post – “Smart Real Estate solution for smarter nations!” (2-27-2017)

“Singapore has long been considered a pioneer when it comes to implementing smart solutions and innovative technologies. Keeping up the trend, the island nation’s first ever smart contract for a rental agreement was signed last month– tenant and landlord signed the agreement online in a matter of minutes!”

Bloomberg – “In Shadow of Manhattan, a Troubled City Is Having a Moment” (2-27-2017)

“For years, downtown Newark’s Military Park, barren and surrounded by vacant buildings, was a symbol of the despair that set in after the 1967 riots. Now it’s at the center of hope that a long-sought recovery for New Jersey’s biggest city may finally be taking hold.”

The Real Deal – “Russia again tops list of countries searching for South Florida real estate” (2-27-2017)

“Russian interest in South Florida is back, and it may be here to stay.  Russia held the top spot on the Miami Association of Realtors’ list of countries searching online for real estate in Miami at the end of last year.”

Bloomberg – “Shrinking Bonuses Slow the Revolving Door of Wall Street Brokers” (2-27-2017)

“After months of secretive planning, seven teams of financial advisers had new business cards and client lists in hand, poised to dump their employers and join Morgan Stanley with more than $500 million of assets in tow.”