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REAL ESTATE
MAY 2016 •
PPB
• 35
Real Estate
Reign
Source: Realtor®Mag
2016 Real Estate Trends
Bisnow, an online news site dedicated to commercial real estate, recently compiled
its
Richest In Real Estate Top 100 list
. See the 10 moguls who lead the rankings in 2016.
1
Sheldon Adelson
Net worth $25.2 billion
Known for: Building the
Venetian Hotel and
Casino in Las Vegas
2
Michael Dell
Net worth $18.3 billion
Known for: Founding
Dell Computer
3
Paul Allen
Net worth $18.1 billion
Known for: Co-founding
Microsoft
4
Donald Bren
Net worth $15.2 billion
Known for: Designing
Mission Viejo, California
5
Charles Butt
Net worth $10.7 billion
Known for: Running
H-E-B, a Texas-based
chain of grocery stores
6
Eric Schmidt
Net worth $10.3 billion
Known for: Serving as
CEO of Novell and
7
Tony Malkin
Net worth $10 billion
Known for: Owning the
Empire State Building
8
Steven Schwarzman
Net worth $9.7 billion
Known for: Launching
Blackstone Group,
a buyout firm
9
Philip Anschutz
Net worth $9.7 billion
Known for: Owning a
one-billion-barrel oil
field in Utah
Known for: Owning several sports
teams, including the St. Louis
(soon to be Los Angeles) Rams
and the Arsenal soccer club
10
Stanley Kroenke
Net worth $7.7 billion
Return To Normalcy
– healthy growth in home sales and
prices, at a slower pace than 2015
More Millennial
Buyers
– majority of buyers expected
to be between ages 25 and 34
Affordable New Homes
– new construction moves toward projects that
appeal to first-time buyers
Higher
Mortgage
Rates
– interest rates on
30-year-fixed notes
expected to be 60
basis points above
2015 levels
Skyrocketing Rental Costs
– more than 85 percent of the U.S. rental
markets have monthly rents exceeding 30
percent of renters’ household incomes