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Blackstone chief says time is right for China investments

Posted on 29 October 2012 by Laxman  |  Email |Print

Stephen Schwarzman, chairman and chief executive of the world’s largest private equity-firm, Blackstone Group LP, said now is the time to invest in China as the slowdown in the world’s second-largest economy shows signs of moderating.
Blackstone executives said the firm is already investing at an aggressive pace in property across Asia, so much so that it could become one of the biggest owners of office space in India. The firm sees future opportunities to put money to work as Chinese property developers struggle………………………………………..Full Article: Source

Why Obama and Romney won’t talk about housing

Posted on 26 October 2012 by Laxman  |  Email |Print

Who’s the best candidate to fix the economic mess? That’s supposed to be the big theme of this presidential election. But you won’t catch Republican candidate Mitt Romney or President Barack Obama making a peep about housing.
The housing and mortgage bubbles were behind the Great Recession. In spite of the bidding wars you hear about in a few cities, housing still is in deep trouble. It’s just less deep than a few years ago………………………………………..Full Article: Source

Obama, Romney still need to address housing market

Posted on 25 October 2012 by Laxman  |  Email |Print

Nobel Prize-winning economist Joseph Stiglitz chided U.S. President Barack Obama and Republican presidential candidate Mitt Romney for not seriously addressing the troubled U.S. housing market during the recent series of presidential debates.
The Columbia University economics professor said in an interview with Reuters TV that the two men have shied away from discussing the uneven U.S. housing market recovery because neither has concrete solutions for helping financially strapped homeowners and both are wary of offending the banks. ……………………………………….Full Article: Source

Housing market returning, but not soon enough to boost Obama campaign

Posted on 22 October 2012 by Laxman  |  Email |Print

The housing market is showing signs of sustainable growth but the improvement could be too little too late to boost President Obama’s reelection hopes. Although the housing market has been on the mend for the past year, industry experts now say that the sector has finally turned the corner, reaching deeper into harder hit areas and creating the expectation that the pace of the recovery will accelerate over the next several years.
But while housing plays a key role in the nation’s economic trajectory, neither campaign has been willing to make it a central point on the campaign trail………………………………………..Full Article: Source

Allianz CFO Maximilian Zimmerer fears German real estate bubble

Posted on 22 October 2012 by Laxman  |  Email |Print

Fears of inflation triggered by a wave of new money from the European Central Bank could push German consumers into the real estate market, creating a property bubble, German insurer Allianz’s finance chief said.
“The central banks are flooding the world with cheap money. Low interest rates over a long period of time always lead to mal-investments. The real estate bubbles in the U.S., Spain or Ireland proved this,” Maximilian Zimmerer told German daily Sueddeutsche Zeitung. Germany could be the next in line, he said. “The bubble would not likely be driven by institutional investors, but rather by private investors fleeing into tangible assets out of fear of inflation and a collapse in the euro.”……………………………………….Full Article: Source

No risk of housing bubble forming in Australia: Treasury economist David Gruen

Posted on 19 October 2012 by Laxman  |  Email |Print

The threat of a bubble building in the Australian housing market has been dismissed by senior Treasury economist David Gruen. Gruen, executive director of Treasury’s macroeconomic group, says there is no danger of a housing bubble because of Australia has an undersupply of homes unlike other major economies, which have built too many houses.
The housing bubble debate has received fresh oxygen of late with senior industry figures warning about the threat posed by rising house prices including ANZ Bank Australia CEO Phil Chronican and Barry Brakey head of property at the Future Fund………………………………………..Full Article: Source

US housing growth stronger than expected: Expert

Posted on 17 October 2012 by Laxman  |  Email |Print

Paul Diggle, Property Economist says: “Some of the pick up in the US housing market this year has been seasonal but the improvement has been stronger than we normally expect during the buying season. So we think in short that this is sustainable recovery. Now the reason it is sustainable is that it has been driven by extremely low level of house prices in the US and housing is now extremely affordable and looks well-valued relative to incomes.
That’s the foundation of much the recoveries being built. It has been helped by a gradually improving wider US economy. But the real increase we have seen in sales to investors have been very important as well and investors are taking advantage of the opportunity to built portfolios of homes in the US and rent them out to households who can’t buy………………………………………..Full Article: Source

U.S. housing market has ‘turned the corner,’ JPMorgan’s Dimon says

Posted on 15 October 2012 by Laxman  |  Email |Print

JPMorgan Chase & Co. posted a record quarterly profit on Friday as falling interest rates and a recovering housing market brought big increases in mortgage lending.
The mortgage market, long a drag on bank results, is starting to lift lenders’ earnings again, and JPMorgan Chief Executive Jamie Dimon said he was hopeful about the outlook for U.S. residential real estate………………………………………..Full Article: Source

John Symond dismisses housing bubble threat, says market has bottomed out

Posted on 15 October 2012 by Laxman  |  Email |Print

Aussie Home Loans boss John Symond has dismissed concerns of a property bubble building in Australia and says the housing market has reached 6.30 on the property clock and is on the road to recovery.
Symond slammed the monetary policy decisions of the Reserve Bank, accusing the current board, led by RBA governor Glenn Stevens, of being “asleep at the wheel”. “I am confident, notwithstanding a lot of hype from offshore analysts about a housing bubble, of Australia’s fundamentals,” Symond said……………………………………….Full Article: Source

In Indian real estate, It’s location and relations

Posted on 10 October 2012 by Laxman  |  Email |Print

What’s not to be envied about the life of the Indian businessman Robert Vadra, a self-made man if ever there was one? Now 43, Vadra emerged from relative insignificance to a position of tremendous wealth, power and influence, especially in the Indian capital, New Delhi, where his name can move mountains.
Of course, it helps that Vadra is married to Priyanka Gandhi, the daughter of former Prime Minister Rajiv Gandhi and granddaughter of former Prime Minister Indira Gandhi. And his mother-in-law is Sonia Gandhi, the president of the Congress Party, the most powerful woman in the land………………………………………..Full Article: Source

Surprising silence on the nation’s housing market

Posted on 05 October 2012 by Laxman  |  Email |Print

For all the discussion about the economy in last night’s presidential debate and on the campaign trail, one key topic that the incumbent and his challenger have largely been silent about is what to do about the once-mighty engine of housing in America’s economy – and how it might get stoked once again.
That may be because, for President Barack Obama and GOP White House hopeful Mitt Romney, the subject of housing remains an extremely sensitive one, given that housing, or more precisely, the collapse of the housing market, has largely been responsible for much of the last five years of economic pain………………………………………..Full Article: Source

Economists: Housing recovery finally here

Posted on 03 October 2012 by Laxman  |  Email |Print

Sean SnaithIt’s been a long time coming, but economists surveyed by CNNMoney believe the nation’s housing market has finally turned the corner. Of the 14 economists who answered questions about home prices in the survey, nine believe that prices have already turned higher or will make that turn later this year. Only three months ago, half of the economists surveyed by CNNMoney believed a turnaround in prices would not take place until 2013 or later.
Economists have been encouraged by a variety of readings, including three straight months of increases in the S&P/Case-Shiller home price index, a pick-up in sales of existing homes and home construction and a big jump in the price of new home sales………………………………………..Full Article: Source

Will Obama and Romney debate housing?

Posted on 02 October 2012 by Laxman  |  Email |Print

With the first presidential debate just days away, speculation about what issues the candidates will tackle — and what zingers they’ll pitch at each other — is already swirling. While there are plenty of touchy topics for Mitt Romney and Barack Obama to trade barbs about — China, jobs, energy policy — perhaps none are as far-reaching as the morass the housing market has become. But as much as housing is a uniquely national issue, it’s also all about “location, location, location,” as the real estate adage goes.
This election cycle, Romney and Obama will go head to head in Denver, Colo., Long Island, and Boca Raton, Fla. — three very different metro areas with equally diverse housing market histories and futures, according to Jed Kolko, chief economist at real estate website Trulia………………………………………..Full Article: Source

Obama criticizes Congress on housing market

Posted on 01 October 2012 by Laxman  |  Email |Print

U.S. President Barack ObamaU.S. President Barack Obama has called out the Congress, especially Republicans, for not acting on proposals aimed at saving homeowners thousands of dollars.
During Saturday’s weekly address, Obama said Congress has delayed taking action on a plan he sent them in February that he says would save homeowners $3,000 a year by refinancing their mortgages at a lower interest rate………………………………………..Full Article: Source

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US: Where the presidential hopefuls stand on the housing market

Posted on 24 September 2012 by Laxman  |  Email |Print

For voters who continue to worry about the recovery of the U.S. housing market, the presidential candidates’ virtual silence on the issue is somewhat disheartening.
Though the candidates frequently criticize each other’s housing plans, the subject is conspicuously absent from both campaigns’ websites. (This might have something to do with the fact that foreclosed-upon individuals are unlikely to vote.) Below, Movoto Real Estate attempts to demystify the candidates’ positions and plans for the U.S. housing market………………………………………..Full Article: Source

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Property prices in Dubai ‘accelerating’: Tameer chief

Posted on 13 September 2012 by Laxman  |  Email |Print

Tameer, who have started handing over units in the Princess Tower and Elite Residence - the world’s tallest and third tallest residential towers - says the property market in Dubai is on the recovery path and prices are accelerating.
“The market is really entering into a new positive cycle. The market has been experiencing growth since beginning of this year and prices have accelerated with demand high for properties in good location,” said Tameer President Federico Tauber………………………………………..Full Article: Source

Berlin housing market in ‘serious danger’ of becoming a bubble, Soros warns

Posted on 12 September 2012 by Laxman  |  Email |Print

Billionaire investor George Soros said Berlin homes are at risk of becoming overvalued because demand is being fuelled by buyers seeking a safe place to put their money amid the European sovereign-debt crisis.
“You have a serious danger of a housing bubble developing in Berlin,” he said at a panel discussion Monday in Berlin. “It has a lot to do with the flight of capital and negative real interest rates.”……………………………………….Full Article: Source

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Al Futtaim Grp Exec: Dubai property prices back at 2007 levels

Posted on 12 September 2012 by Laxman  |  Email |Print

The Al Futtaim Group, one of Dubai’s largest family conglomerates, is getting back to building and selling residential units in its massive Dubai Festival City development, as improved property market conditions push prices back up to 2007 levels, a senior executive said Monday.
Ian Plumley, the general manager of property sales at the 1,300-acre mixed-use development, said prices had recovered and that demand was strong for villas and townhomes. Festival City consists of a shopping center of two million square feet, surrounded by offices, residential buildings and a golf course………………………………………..Full Article: Source

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Obama’s secret plan to prop up housing prices – OpEd

Posted on 06 September 2012 by Laxman  |  Email |Print

Private Equity firms are piling in to the housing market to take advantage of bargain basement prices on distressed inventory. The Obama administration is stealthily selling homes to big investors who are required to sign non-disclosure agreements to ensure that the public remains in the dark as to the magnitude of the giveaway.
Aside from the steep discounts on the homes themselves, the government is also providing “synthetic financing to reduce the up-front capital required if they agree to form a joint venture with Fannie Mae and share proceeds from the rental or sale of properties.”…………………………………….Full Article: Source

Hong Kong chief battles Chinese over affordable housing

Posted on 06 September 2012 by Laxman  |  Email |Print

Hong Kong’s new leader is taking up the battle his predecessor failed to win, seeking to overcome record low mortgage rates and an influx of Chinese buyers to make housing in the world’s most expensive city more affordable.
Leung Chun-ying, the property surveyor who took over as the city’s chief executive in July, on Aug. 30 said he’ll boost the supply of homes and start drafting laws giving preference to locals over buyers from mainland China……………………………………..Full Article: Source

Australia: The real estate kings who have lost their crowns

Posted on 06 September 2012 by Laxman  |  Email |Print

They are fallen stars who made a fortune in the boom. Where are they now? Craig Gore followed in the footsteps of his colourful late father Mike Gore to build a property empire, but in April he filed for bankruptcy, citing debts of $282.9m.
The Gold Coast-based Mr Gore, who in 2007 was listed on BRW’s Rich 200 with a $183m fortune, struck a deal with creditors in 2010 to pay a fraction of the more than $490m owed. But in February, creditors voted to end the deal. Mike Gore went broke after building the Gold Coast’s Sanctuary Cove residential resort in the 1980s……………………………………..Full Article: Source

Indian real estate market is driven by the location

Posted on 05 September 2012 by Laxman  |  Email |Print

From a retail investor’s perspective, if you look at the options in India, because of infrastructure and job opportunities that metro cities provide, that’s where population migrates to. As a fund we don’t see fundamental demand in most small cities and if as a fund we find it hard then for an individual it gets harder and riskier.
So the only option for an individual investor if they have to go to tier III cities is to go to their home towns. And then if you want to invest in real estate, stick to land. Land appreciates in time and a flat may or may not. Growth pointers on land are much higher. But there are issues such as you can’t leave the land unattended…………………………………….Full Article: Source

US: How the presidential election affects the real estate market

Posted on 03 September 2012 by Laxman  |  Email |Print

President ObamaFour years after the housing bubble burst, there’s much unfinished business regarding the restoration of the nation’s real-estate market for the next president to tackle, experts across the political spectrum say.
Whether you prefer President Obama or Republican nominee Mitt Romney, there’s no denying that the next president’s economic and employment policies will be a key driver of the health of real estate for the next four years, not to mention the price of a mortgage………………………………………..Full Article: Source

Chinese premier says property controls still in ‘critical period’

Posted on 03 September 2012 by Laxman  |  Email |Print

Chinese Premier Wen Jiabao has reiterated the country still needs to resolutely curb speculative property investment as controls on the real estate sector are still in a “critical period.” Wen made the remarks while making an inspection tour of affordable housing projects in the city of Tianjin in north China on Friday.
He pointed out that the government’s controls over skyrocketing housing prices have been in place for more than two years, and that the excessive price rises have been generally curbed………………………………………..Full Article: Source

UK: Relax rules on cheap housing for the poor, says Shapps

Posted on 24 August 2012 by Laxman  |  Email |Print

Rules forcing all property developments to include cheap housing for the poor should be relaxed, Grant Shapps, the housing minister, has said. The minister said Britain already spends “an awful lot of money” on affordable housing and more must be done to kick-start the property rental market.
He said new rental developments without cheap housing are better than no new homes at all. His comments come after a new report from Sir Adrian Montague, a top businessman, warned graduates and young professionals face a shortage of private rented property………………………………………..Full Article: Source

Dutch market is highly entrepreneurial, says JLL’s new Benelux chief

Posted on 24 August 2012 by Laxman  |  Email |Print

Vincent Querton is the first non-Dutch national to take the helm at Jones Lang LaSalle in the Netherlands and the first without an all-property background. Asked whether the interview with PropertyEU should be held in French, English or Dutch, Querton opts for Dutch, in line with his new professional environment.
The new Belgian CEO of Jones Lang LaSalle in the Netherlands speaks all three languages, having previously served as chief executive of the international advisory firm in Belgium and Luxembourg………………………………………..Full Article: Source

Why didn’t Obama save the housing market like he did Wall Street?

Posted on 21 August 2012 by Laxman  |  Email |Print

After inheriting the worst economic downturn since the Great Depression, President Obama poured vast amounts of money into efforts to stabilize the financial system, rescue the auto industry and revive the economy.
But he tried to finesse the cleanup of the housing crash, rejecting unpopular proposals for a broad bailout of homeowners facing foreclosure in favor of a limited aid program — and a bet that a recovering economy would take care of the rest………………………………………..Full Article: Source

Foreclosure woes of the rich and famous

Posted on 20 August 2012 by Laxman  |  Email |Print

More than 4 million homes have been foreclosed on in the past five years and another nearly 192,000 were in the foreclosure process as of July. Now the foreclosure wave is pulling in more celebrities and the wealthy.
“We are seeing foreclosure activity on higher-end homes increase at a faster pace for the past two years,” says Daren Blomquist, vice president of RealtyTrac. From 2007 to 2011, foreclosure activity on homes worth more than a $1 million increased 489%, compared to a 105% increase on properties under $1 million, according to the Irvine, Calif.-based real estate information provider………………………………………..Full Article: Source

Bank of Canada’s Carney says housing market starting to cool

Posted on 10 August 2012 by Laxman  |  Email |Print

Bank of Canada Governor Mark Carney indicated on Wednesday that the red-hot Canadian housing market is starting to cool, but said vigilant policy makers, including the central bank, stood ready to take further action if needed.
The booming real estate market and the related problem of soaring household debt have become the biggest domestic risk for the Canadian economy and a headache for the central bank, whose rock-bottom interest rates have contributed to heavy borrowing………………………………………..Full Article: Source

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Singapore to build at least 20,000 new public housing units in 2013 - Minister

Posted on 07 August 2012 by Laxman  |  Email |Print

The Singapore government plans to build at least 20,000 new public-housing apartments in 2013 as part of plans to stabilize the city-state’s heated property market, a government minister said Monday.
“Our move to ramp up supply to stabilize the housing market…is making steady progress,” Minister for National Development Khaw Boon Wan wrote on his official weblog in comments about Singapore’s public-housing market. ……………………………………….Full Article: Source

Warren Buffett’s wager on U.S. housing market pays off

Posted on 03 August 2012 by Laxman  |  Email |Print

Berkshire Hathaway Inc. is benefitting after billionaire Chairman Warren Buffett increased investments tied to the U.S. housing market and sidestepped bets on Europe amid the region’s debt crisis.
Berkshire’s Class A shares rose this week to the highest in 16 months. The Omaha, Nebraska-based company, which is expected to report second-quarter earnings tomorrow, is about 3% away from the top closing price since 2008………………………………………..Full Article: Source

Ex-Morgan Stanley analyst forms firm to buy rental homes

Posted on 02 August 2012 by Laxman  |  Email |Print

Oliver ChangOliver Chang, the former head of housing strategy at Morgan Stanley, said his new company aims to spend as much as $1 billion in the next two years buying rental homes, targeting low-cost houses that need major renovations.
“We’re looking for homes that are undervalued and need repairs,” Chang, who left Morgan Stanley in May, said in a telephone interview. “There’s not as much competition to buy those houses, so the price is lower.”……………………………………….Full Article: Source

China home prices rise in market ‘turning point,’ SouFun says

Posted on 01 August 2012 by Laxman  |  Email |Print

China’s new home prices posted the biggest gain in more than a year, signaling a turning point for the nation’s property market, according to SouFun Holdings Ltd. (SFUN), the country’s biggest real estate website owner.
Home prices rose 0.3 percent from June to 8,717 yuan ($1,369) per square meter (10.76 square feet), SouFun said in a statement today, based on its survey of 100 cities. That was the second monthly gain and the biggest rise since June 2011………………………………………..Full Article: Source

Zhiang Xin on future of Chinese property market

Posted on 31 July 2012 by Laxman  |  Email |Print

China’s economic slowdown and changes in government policy have had a heavy impact on the country’s property market. Although residential builders have been having a difficult time, the same is not so true for commercial real estate, according to the CEO of one of Beijing’s largest developers.
Zhiang Xin is a self-made billionaire and China’s third-richest woman. She spoke to the BBC’s Philip Hampsheir who asked if she thought China’s property market was heading for a hard or a soft landing………………………………………..Full Article: Source

NZ: House prices ‘ridiculous’

Posted on 27 July 2012 by Laxman  |  Email |Print

House prices are ridiculously high and the fact that none are being built for people on low incomes is unsustainable, says Finance Minister Bill English. English said housing affordability was “quite a turn-off for young Kiwis”.
“The prices you pay for a house are ridiculous and they look that way to 24-year-olds with lots of student debt and the prospect of better pay in Australia,” he said……………………………………….Full Article: Source

House prices can’t fall a ‘dangerous idea’: RBA

Posted on 25 July 2012 by Laxman  |  Email |Print

The Reserve Bank says housing prices may fall further and believes it is risky to assume they won’t. “It is a very dangerous idea to think that dwelling prices cannot fall,” RBA governor Glenn Stevens said in a speech today. “They can, and they have.”
“We should never say a crash couldn’t happen here, and the Reserve Bank continues to monitor property markets and the performance of mortgages quite closely,” said Mr Stevens………………………………………..Full Article: Source

Real estate prices in Mumbai unlikely to fall: Oberoi

Posted on 24 July 2012 by Laxman  |  Email |Print

Real estate prices in Mumbai are unlikely to fall due to limited supply, a leading real estate developer said.
“All input costs and raw material costs are going up and supply is constrained due to lack of approvals. Unless supply increases, the real estate prices in the city are unlikely to fall,” chairman and managing director of Oberoi Realty, Vikas Oberoi told reporters………………………………………..Full Article: Source

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BNZ economist Craig Ebert says NZ housing market is over-valued by 25pct

Posted on 20 July 2012 by Laxman  |  Email |Print

BNZ economist Craig Ebert says our housing market is over-valued by 25% because of artificially low interest rates and to ignore this imbalance ‘would be irresponsible’. Those propounding that the Reserve Bank should maintain very loose, even looser, policy, on account of the slow CPI, should take another look at New Zealand’s housing statistics.
These suggest a major imbalance is still stalking the NZ economy – one that might only be redressed by less interest rate stimulus, not more. Namely, that NZ house prices, having never really shaken the bubble they formed over 2004-07, are threatening to blow bigger again………………………………………..Full Article: Source

Singapore: Housing market needs more certainty

Posted on 19 July 2012 by Laxman  |  Email |Print

National Development Minister Khaw Boon Wan’s comments in Parliament on the state of the property market illustrate the conundrum of viewing a glass of water as being half full or half empty.
Noting that residential property prices have moderated in recent months, he said the various measures to cool the market “have helped buyers, including those at the middle and low end of the market”………………………………………..Full Article: Source

Japan property billionaire Mori bets $202 mln on China

Posted on 19 July 2012 by Laxman  |  Email |Print

Billionaire Akira Mori, the owner of Japan’s most profitable closely held developer, said he has formed a company to invest in China and advise Japanese companies on expanding there.
“Japan’s environment is getting difficult; I want to build a company that is willing to take risks,” said Mori, 76, in an interview in Tokyo. Mori said he plans to expand the assets of MA Platform Group, set up with 16 billion yen ($202 million) of capital, to 50 billion yen in five years. MA Platform has invested 18 billion yen including financing so far………………………………………..Full Article: Source

Warren Buffet: U.S. property market is recovering

Posted on 18 July 2012 by Laxman  |  Email |Print

Warren BuffetAmerican billionaire Warren Buffet had affirmed his earlier confidence on the current mode of recovery of the country’s housing markets in an interview with Bloomberg television.
Buffet tells Bloomberg’s Betty Liu in an interview at Allen & Co. media conference in Sun Valley, Idaho that the U.S. property market is starting to recover and the improvement seen this year is even better than what has been recorded in the previous year………………………………………..Full Article: Source

Bubble vs. rubble? Rosenberg weighs in on Canada-U.S. housing divide

Posted on 13 July 2012 by Laxman  |  Email |Print

David Rosenberg Many economists balk at using the “B-word” to describe Canada’s housing market. Gluskin/Sheff’s David Rosenberg doesn’t. And remember, he was the guy who called the U.S. housing bubble.
In a report out this week, Mr. Rosenberg describes the different real-estate market landscapes on either side of the Canada-U.S. border–”bubble versus the rubble.” The discrepancy continues to widen. On Thursday, Canada’s statistical agency said new home prices in May rose 0.3% month-over-month and 2.4% year-over-year………………………………………..Full Article: Source

Marks says aversion to U.S. real estate is an opportunity

Posted on 13 July 2012 by Laxman  |  Email |Print

Oaktree Capital Group LLC Chairman Howard Marks, whose distressed-debt company went public in April, said U.S. real estate including single-family homes are a smart investment because of a general aversion among investors.
“Mistakes cause great opportunities,” Marks, also co- founder of Los Angeles-based Oaktree, said in an interview today on Bloomberg Television’s “Market Makers” with Stephanie Ruhle and Scarlet Fu. “An excess aversion to an asset is a form of a mistake just as an excess desire to buy causes a bubble. Currently, there’s more of an aversion to real estate than to other areas.”……………………………………….Full Article: Source

China slowdown seen forcing Wen’s hand on property curbs

Posted on 12 July 2012 by Laxman  |  Email |Print

China’s weakest growth in three years may pressure Premier Wen Jiabao to further ease the government’s crackdown on a property industry that accounts for more than a quarter of final demand.
Gross domestic product expanded 7.7 percent in the second quarter from a year earlier following an 8.1 percent increase in the first quarter, according to the median estimate of 38 economists surveyed by Bloomberg News before a report tomorrow………………………………………..Full Article: Source

China must prevent rebound in property prices, Wen says

Posted on 09 July 2012 by Laxman  |  Email |Print

Chinese Premier Wen Jiabao said downward pressure on the economy is still “relatively large” and the government will intensify fine-tuning of policies even as measures taken since April are helping stabilize a slowdown.
Wen’s comments, four days after the central bank announced the second interest-rate cut in a month, were made during an inspection tour of eastern Jiangsu province, the official Xinhua News Agency reported………………………………………..Full Article: Source

Canadian housing prices likely to stay flat rather than decline

Posted on 05 July 2012 by Laxman  |  Email |Print

Robert HogueAlthough one prominent forecaster recently warned that a substantial drop in housing prices is on the horizon, other analysts continue to have a more optimistic outlook. More likely, the average price in Canada will be about flat for the foreseeable future, says economist Robert Hogue, who follows real estate for the Royal Bank.
Hogue agreed with Craig Alexander, chief economist at the TD Bank, that home prices have outrun income growth for years, bringing a decline of 10 to 15 per cent within the realm of possibility………………………………………..Full Article: Source

Fed’s Fisher says housing market has `bottomed out’

Posted on 02 July 2012 by Laxman  |  Email |Print

Richard FisherFederal Reserve Bank of Dallas President Richard Fisher said he believes low mortgage rates have helped bring an end to the slump in U.S. housing. “I do think the housing market has bottomed out,” Fisher said to reporters today in Aspen, Colorado. The improvement has been “assisted by these low mortgage rates that we’ve had.”
More Americans than forecast signed contracts to purchase previously owned homes in May, indicating the real estate industry is firming three years after the start of the economic recovery………………………………………..Full Article: Source

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China: Vice premier urges continuing property controls

Posted on 02 July 2012 by Laxman  |  Email |Print

Chinese Vice Premier Li Keqiang has urged continuing curbs on speculative demand in the real estate sector, the latest signal sent by authorities indicating no relax of real estate market controls.
“The control policies on the property market should be stabilized and their achievements should be consolidated,” Li said at a recent conference on low-income housing projects. The supply of commodity houses need to be increased but speculation and investment demand in the market must be curbed, he said……………………………………….Full Article: Source

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Goodhart says a U.K. home is a good buy if you can afford it

Posted on 29 June 2012 by Laxman  |  Email |Print

Former Bank of England policy maker Charles Goodhart said now is an “excellent time” to buy a home in Britain if you can afford it because the nation’s housing shortage will keep pushing up prices.
“If you can get hold of the money, I think it’s already a very good buy,” Goodhart said in an interview yesterday in London. “If you can get the down payment together,” then the “affordability of housing and its likely future price increase is such that now would be an excellent time to buy.”……………………………………….Full Article: Source

Cantor Fitzgerald CEO: ‘Real estate’s got life’

Posted on 27 June 2012 by Laxman  |  Email |Print

Seeing little upside in the stock market, Cantor Fitzgerald CEO Howard Lutnick said Tuesday on CNBC that low interest rates were making commercial real estate a strong bet.
“I think the stock market is in a tough spot, right? There’s no growth. The Fed couldn’t have made it more clear. You know what Operation Twist means? It means we’re all getting twisted,” he said on “The Kudlow Report.” “There’s not really an economy out there.” The one bright spot, however, was commercial real estate………………………………………..Full Article: Source

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