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THE FINANCIAL SERVICES AND REAL ESTATE WEEKLY FOR MASSACHUSETTS BY THE NUMBERS
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County close-up: Barnstable Spotlight: Osterville
IN PERSON
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Architect Vickie Alani’s specialties in the multifamily and hospitality sectors are starting to blur together, as hotel and housing developers borrow each others’ design trends. Alani has participated in 15 projects in less than two years at Boston-based CBT Architects, where she was named a principal in June.
WEEK OF MONDAY, OCTOBER 8, 2018
BANKING REAL ESTATE BY THE NUMBERS
COMMERCIAL INTERESTS
WARREN’S HOUSING PLAN WORTH A CLOSER LOOK
$1 billion The amount of assets of banks headquartered in Massachusetts. See Bram Berkowitz’s story on page 8 for more. Source: K&L Gates
94% The percentage of financial services firms that experienced some sort of fraud within the last two years. See Week on the Web on page 2. Source: Forrester
679 The number of state-chartered and federally chartered banks in Massachusetts at the start of the Depression. See Bram Berkowitz’s story on page 8. Source: K&L Gates
97% The percentage of property management companies that experienced fraud in the properties they manage in the past two years. See more in Week on the Web on page 2. Source: Cape Cod Chamber of Commerce
$9.61 The residential tax rate for Osterville in Barnstable County. See By the Numbers’ Town Spotlight on page 6 for more. Source: Massachusetts Division of Banks
MA’s Senior Senator Makes a Bid for Homebuilding – and Potentially the White House
80%
BY SCOTT VAN VOORHIS
The percentage of banks that demutualize, go public and then get acquired. See Bram Berkowitz’s story on page 8 for more. Source: Forrester
62% The percentage of insurance companies that experienced an increase in soft fraud during the last two years. See Week on the Web on page 2. Source: Bill Hills Bank
$2.7 billion The amount of assets of Blue Hills Bank since 2010. See Bram Berkowitz’s story on page 8. Source: Bill Hills Bank
Unless otherwise noted, all data is sourced from The Warren Group’s Mortgage Market Share Module, Loan Originator Module, Statistics Module and/or proprietary database. For more information please visit www.thewarrengroup.com/business/ datasolutions.
BANKER & TRADESMAN STAFF
W
ould a President Warren be the cure for our country’s increasingly messed up housing market? Sen. Elizabeth Warren has finally made official what anyone with half a brain has long suspected – she’s eyeing a run for the White House.
Warren’s presidential ambitions may be getting all the ink right now. But here’s what you probably have not read much about: The former Harvard Law professor and bankruptcy expert recently unveiled a sweeping plan to tackle one of our nation’s most serious problems, the dire shortage of reasonably priced housing. The timing of the proposal is hardly coincidental, given Warren’s presidential aspirations, but our senior senator’s recently unveiled American Housing and Economic Mobility Act is worth a serious look.
Warren’s $500 billion-plus plan to make housing affordable again calls for a major ramp up in spending on desperately needed new apartments and homes affordable to middle and lower-income families. It is a proposal that brings to mind Warren’s past life pushing for reform of our country’s punitive bankruptcy laws, as well as her classic take on middle-class financial woes, “The Two Income Trap.” But Warren wants to do more than just spend money. Her proposal also takes
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PIGGYBACKING ON TRANSIT
ANOTHER ACQUISITION
Others Hop on for the Ride
Bank Located in Crowded and Competitive Market
Pioneering Developers Pay the Freight By Steve Adams | Banker & Tradesman Columnist
Commercial Real Estate PAGE 7
Blue Hills Acquisition Likely Fueled by Lack of Growth Potential By Bram Berkowitz | Banker & Tradesman Staff
Banking & Lending PAGE 8