Sun, Dec 21, 2014
A A A
Welcome hendrik.absolut
RSS

Real Estate Briefing - Archive | July, 2010

US: Many cities awaiting a housing recovery

Posted on 30 July 2010 by Laxman  |  Email |Print

From Msnbc: After welcome signs of growth in housing earlier this year, home sales — and prices — are likely to wilt again in the summer heat, a victim of rising foreclosures and weak demand in many parts of the U.S.
Like the economic recovery in general, the housing recovery is uneven: Data for the nation as a whole show prices inching higher, but in many parts of the country prices have yet to hit bottom, analysts say. And when prices do recover, the gains will be gradual……………………………………….Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

European institutional investors thinking twice about US

Posted on 30 July 2010 by Laxman  |  Email |Print

From IPE: Concerns over the fragility of the US economic recovery have caused European institutional investors to reassess the attractiveness of the country’s real estate market.
The US real estate market has seen a rise in foreign capital inflows, and this is expected to continue to grow going into 2011……………………………………….Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Texas Teachers earmarks $1.1bln for real estate investment

Posted on 30 July 2010 by Laxman  |  Email |Print

From IPE: The Teacher Retirement System of Texas has approved $1.1bn (€849.5bn) worth of new commitments to real estate.
The largest of these was a $500m entry-level investment into General Growth Properties (GGP)……………………………………….Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Brazil increasingly seen as real estate investment hot spot

Posted on 30 July 2010 by Laxman  |  Email |Print

From Propertywire.com: Brazil is seeing a shift from lifestyle property buying to investors seeking a purchase that it likely to rise in value as the country hosts the football world cup in 2014 and the Olympics in 2016, it is claimed.
Once the secret of a select few adventurous holiday home buyers attracted by the year round sunshine, deserted beaches and party atmosphere, Brazil is now topping the list for serious property investors who wish to cash in on the boom, according to Brazil real estate specialists uv10……………………………………….Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

EMEA investment to accelerate in H2: JLL Hotels

Posted on 30 July 2010 by Laxman  |  Email |Print

From Propertyeu.info: The first half of 2010 has demonstrated that the EMEA hotel investment market is starting to pick up, with growth expected to accelerate even more in the second half of the year, according to Jones Lang LaSalle Hotels.
Transaction volume rose marginally to EUR 1.6 bn at the end of H1 2010, representing a 6% year on year increase……………………………………….Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Crisis looms for commercial real estate in Europe

Posted on 30 July 2010 by Laxman  |  Email |Print

From Lse.co.uk: Investors have started once again to circle European commercial real estate on the back of relative price improvements from the nadir of mid-2009 and in view of attractive yields.
This follows a protracted period of inactivity as prices fell dramatically from their highs in parallel with the meltdown in the global banking sector. But is this new-found confidence built on solid foundations, or will it be blitzed by the coming credit crunch that could send the market into a tailspin in a property double-dip?………………………………………Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

UK house prices fall in July for only second time this year

Posted on 30 July 2010 by Laxman  |  Email |Print

From Telegraph: UK house prices fell this month for the first time since February, as concern about the economic outlook put buyers off. The average price of a UK home fell 0.5pc to £169,347 in July, according to the latest figures from Nationwide Building Society released on Thursday.
This month’s fall comes after prices stalled in June, and leaves them just 6.6pc higher than they were a year ago……………………………………….Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

UK: House prices and home loans falling

Posted on 30 July 2010 by Laxman  |  Email |Print

From Scotsman.com: Fears that the housing market is set for a new slump strengthened yesterday after new figures showed a decline in both house prices and mortgage lending. The Nationwide revealed that UK house prices fell by 0.5 per cent in July, after a static June and several months of slowing increases.
And the Bank of England reported that the number of mortgages approved by UK banks fell in June to its second lowest level since May 2009……………………………………….Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

UK: We’re going to craaaaaaaaaaaaaaaaaaaaash!

Posted on 30 July 2010 by Laxman  |  Email |Print

From Sky.com: Or are we? The general consensus seems to be that the rally in house prices that we’ve seen in the last year or so has run out of steam. If prices have peaked then there’s only one direction they’re headed and that’s down.
There is a logic that runs thus: property is still thumpingly over-valued (look at the ration of average earnings to asking prices). A rush blood to the head will be the market’s undoing……………………………………….Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Shift to houses helps U.K. homebuilders overcome weaker market

Posted on 30 July 2010 by Laxman  |  Email |Print

From Bloomberg: U.K. homebuilders reacted to the financial crisis by switching from apartments to single-family homes. After a year, the shift is paying off in rising profit margins, helping companies overcome a weakening property market.
The move away from apartments, combined with a 60 percent drop in land prices, may lift operating profit margins in the industry to about 15 percent in three to four years, said Chris Millington, an analyst at Numis Securities in London……………………………………….Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

RICS: Commercial demand falls

Posted on 30 July 2010 by Laxman  |  Email |Print

From Building.co.uk: The RICS UK Commercial Market Survey for the second quarter of 2010 shows that lettings for business property slipped back after a positive first quarter and tenant demand declined for the first time in a year, particularly in London.
Surveyors are reporting that uncertainty over public spending cuts are affecting the appetite of businesses to take up new space……………………………………….Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

No respite for Irish markets as rental fall steepens: IPD

Posted on 30 July 2010 by Laxman  |  Email |Print

From Propertyeu.info: Accelerated rental falls in Irish commercial property has stifled the market’s recovery, driving steeper capital depreciation over the three months to the end of June, at -3.5%, according to the SCS/ IPD Ireland Quarterly Property Index.
The precipitant rental decline - which reflect aggressive tenant bargaining, rising vacancy rates and continued below trend consumer spending - was -7.5% over the quarter and a compounded -30.6% across the entire 18 months rents have been falling……………………………………….Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Bulgarian property market looking to bounce back

Posted on 30 July 2010 by Laxman  |  Email |Print

From Intasure.com: An increase in lending may help the Bulgarian property market return to health.Bulgarian banks are looking to boost the country’s property market by making more loans available.
The global economic downturn has affected the eastern European country more severely than many other nations and many Brits have steered clear in recent times……………………………………….Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Property and real estate in Turkey – Why it is a good investment

Posted on 30 July 2010 by Laxman  |  Email |Print

From Tomwilt.com: Turkey is a country filled with culture and by many regarded as a modern country popular with tourists and property investors.
A land with a long history and traditions, Turkey offers an interesting blend of East and European, with temperatures and seashores of white sand that outshines many of the typical hot spots of Europe……………………………………….Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Qatar: Villa rents likely to fall further

Posted on 30 July 2010 by Laxman  |  Email |Print

From Zawya.com: Villa rents are likely to plummet further as businesses other than beauty parlours, nurseries and health clinics currently operating from villas in residential areas have been asked by the government to move to commercial premises from November this year.
A lot of villas currently being used as offices are expected to be vacant as a result, and come on the rental market for residential use, thus adding to already abundant supplies……………………………………….Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Dubai office rents fall 17pct in Q2

Posted on 30 July 2010 by Laxman  |  Email |Print

From Ameinfo.com: According to a report by CB Richard Ellis, office rents in Dubai had dropped by as much as 17% in the second quarter, as new supply put pressure on landlords, Bloomberg has reported.
Office supply is increasing by about 5% per quarter in Dubai, mainly in areas including Port Saeed, Al Mamzar, Airport Road and Diyafa Street, according to CBRE……………………………………….Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Kuwait property sales more than double

Posted on 30 July 2010 by Laxman  |  Email |Print

From Maktoob.com: Kuwaiti real estate sales soared 113 percent in the second-quarter compared to the year earlier period signaling a recovery in the sector, official data showed on Thursday.
Property sales in the Gulf Arab state rose to 596.87 million dinars ($2.07 billion) from 280.8 million dinars in the second quarter last year, the data showed……………………………………….Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Singapore: Property market may slow

Posted on 30 July 2010 by Laxman  |  Email |Print

From Straitstimes.com: A new index tracking the property market shows that developers and other industry players remain positive but believe conditions will cool down from the bullish levels seen in recent months.
More developers also believe the slowing global economy and an increased supply of new development land may hit market sentiment over the next six months……………………………………….Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Problems ahead for Vietnam’s housing market?

Posted on 30 July 2010 by Laxman  |  Email |Print

From Globalpropertyguide.com: As Vietnam’s economy has grown, so has its property market. The country is experiencing a real estate boom at present. But experts are wary of a number of weaknesses in the system that might bring the market down, including the following:
Spiralling, unregulated property prices. Rising construction costs further drive up residential real estate prices that often even exceed the actual value of the property. There is a shortage of housing projects that are suitable to the average income……………………………………….Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Seoul premier quits amid land woes

Posted on 30 July 2010 by Laxman  |  Email |Print

From WSJ: South Korea’s prime minister resigned Thursday over a controversial government-office development plan, as mounting troubles in the housing and construction industries threaten the country’s rapid recovery from the global economic crisis.
The country is enjoying a heady rate of growth. The Bank of Korea on Monday reported a 7.2% year-to-year jump in second-quarter gross domestic product, driven by exports and facility investment.That figure followed marginal performance over the past two years……………………………………….Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

NZ: Building consents stay in the doldrums

Posted on 30 July 2010 by Laxman  |  Email |Print

From Nzherald.co.nz: New Zealand’s residential property sector remained subdued last month with permits for new construction edging up from a slump in May, while commercial property extended its decline.
Consents for new homes, excluding apartment approvals, rose 1.7 per cent to 1,316 in June from the same month a year ago after a 10 per cent slump a month earlier, according to Statistics New Zealand data. Including apartments the number of new homes authorised rose 3.5 per cent to 1,373……………………………………….Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Investors advised to buy commercial properties in emerging economies

Posted on 30 July 2010 by Laxman  |  Email |Print

From Commercialfinancegroup.co.uk: Commercial investors should look to eastern Europe and other emerging economies for their next property purchase. Investors have been encouraged to look at countries with emerging economies for their next commercial property buy.
According to King Sturge’s Andrew Burrell, the commercial real estate markets of South America, Asia and eastern Europe are fairing better than the industry in the UK……………………………………….Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

CBRE, JLL see earnings rebound in Q2

Posted on 29 July 2010 by Laxman  |  Email |Print

From Propertyeu.info: The two largest global commercial real estate advisory firms have reported a strong bounce back to profitability in the second quarter of this year, thanks to the combined effect of cost-cutting and higher earnings driven by a pick up in market activity.
Los Angeles-based CBRE, the largest property advisor in the world, posted a profit of just under $55 mln (EUR 42.3 mln), or $0.17 per share, for the period from April to June this year compared with a net loss of $6.6 mln, or $0.02 loss per share, in the second quarter of 2009……………………………………….Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Four reasons to be upbeat on housing

Posted on 29 July 2010 by Laxman  |  Email |Print

From Barrons.com: Although the residential real-estate sector remains depressed on a historical basis, we believe that there are several positive forces that could buoy housing during the second half of 2010.
First, with home sales and mortgage-purchase applications falling to record lows in the wake of the expiring first-time home buyers’ tax credit, there is a very low base against which to measure future gains……………………………………….Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Home prices rise but outlook for sector dims

Posted on 29 July 2010 by Laxman  |  Email |Print

From WSJ: Home prices rose in May but were expected to lose momentum with the expiration of federal tax credits, while consumer confidence sagged—both signs that the economic recovery remains fragile.
The S&P/Case-Shiller 10-city and 20-city home-price indexes increased 1.2% and 1.3%, respectively, in May on a non-seasonally adjusted basis. Compared with a year earlier, the 10-city index rose 5.4% and the 20-city reading climbed 4.6%……………………………………….Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

S.F.’s housing market like the weather: unpredictable

Posted on 29 July 2010 by Laxman  |  Email |Print

From Sfgate.com: Another data point about the housing market has been released and once again, contributes to a mixed message about the real estate climate in San Francisco. Yesterday, the S&P/Case-Shiller home price index reported that San Francisco topped 20 other metropolitan regions in the year over year price change from May 2009 to May 2010.
Our city by the bay posted a 18.3% increase in its home price index level from a year ago. San Diego, the runner up, was a distant second, logging a 12.4% jump in its price level from the prior year……………………………………….Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Panama property still one of best investments in the world

Posted on 29 July 2010 by Laxman  |  Email |Print

From Property-abroad.com: While there is little about it in the industry press, Panama remains one of the best long term property investment destinations in the world.
The US State Department estimates that Panamanian GDP grew 2.5% in 2009, while this is a massive slowdown on the 9.2% growth recorded in 2008, it is still a strong performance given the recession experienced by many in the region — including Brazil –, due to the massive slowing of demand from US importers……………………………………….Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Canada May home prices increased 1.3pct, Teranet says

Posted on 29 July 2010 by Laxman  |  Email |Print

From Bloomberg: Canadian home resale prices rose for a 13th straight month in May, the longest streak since September 2006, the Teranet-National Bank Composite House Price Index showed.
The monthly gain of 1.3 percent was led by a 2.3 percent increase in Ottawa, followed by 1.8 percent in Montreal, according to a report today by National Bank Financial……………………………………….Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

European investors becoming more hesitant: JLL

Posted on 29 July 2010 by Laxman  |  Email |Print

From Propertyeu.info: Global real estate markets are experiencing a continued upswing with regional patterns emerging but an investor-led bounce in Europe during the first half of 2010 has not yet filtered through to market fundamentals, according to Jones Lang LaSalle’s July-August issue of the Global Market Perspective.
While markets across the globe are strengthening, the last few weeks have shown that regional markets are moving with different dynamics……………………………………….Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Office developers in Europe begin to circle

Posted on 29 July 2010 by Laxman  |  Email |Print

From WSJ: With Europe’s financial sector showing signs of stabilizing, developers have begun to dust off plans. A development boom, however, isn’t likely anytime soon.
Demand for new office space, while rising in some markets, is still so weak that it hardly justifies a major push to create new space in most European markets. Also, despite the largely reassuring result of “stress tests” of European banks, financing for major new construction remains scarce……………………………………….Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

UK: House prices inched higher in June, says Land Registry

Posted on 29 July 2010 by Laxman  |  Email |Print

From Cityam.com: House prices in England and Wales rose 0.1 per cent on the month and 8.4 per cent on the year in June, figures from the Land Registry showed yesterday. The government agency said the average price of a home was now £166,072.
House prices are now around the same levels that they were in the summer of 2006……………………………………….Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

UK: House prices will fall over next five years, says Niesr

Posted on 29 July 2010 by Laxman  |  Email |Print

From Telegraph: House prices will fall in real terms over the next five years as inflation outstrips meagre rises in property values, one of the country’s most respected forecasting bodies has warned.
The National Institute of Economic and Social Research (NIESR) claims that prices will fall, in real terms, by about eight per cent. It means that after accounting for inflation, “real” house prices will have collapsed to 2003 levels by 2015………………………………………Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

The forecast for UK house prices is very depressing

Posted on 29 July 2010 by Laxman  |  Email |Print

From Financialadvice.co.uk: While the National Institute of Economic Research has today issued a report regarding the UK property sector, with a forecast that house prices will fall by 8% in real terms by 2015, this is not the worst forecast currently in the marketplace!
A report by Capital Economics today forecasts that the UK property market could fall by up to 25% over the next two years wiping off almost £42,000 from the value of the average home in the UK……………………………………….Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

UK: Office demand slows in Q2, but underlying picture remains healthy

Posted on 29 July 2010 by Laxman  |  Email |Print

From Europe-re.com: As was widely expected, UK office market take-up slowed in mid-2010 after an exceptionally strong start to the year. In the three months to June, occupiers took just 1.3 million ft² (approx. 120,000 m²) of office space, less than half as much as in Q1 and the weakest quarterly performance since the market’s lowest point of early 2009.
“It is, however, important to look below the surface,” comments Andrew Burrell, King Sturge’s Head of Office Research. “We were cautious about the Q1 surge and would also argue that the more recent data do not signal the feared double-dip.”………………………………………Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Italy property market recovery remains fragile

Posted on 29 July 2010 by Laxman  |  Email |Print

From Aplaceinthesun.com: The Italy property market recovery remains fragile after the latest residential property price report compiled by Nomisma showed that the average price of a home in Italy depreciated by 1.8 per cent during the six months to June 2010.
The report also revealed that the volume of residential properties sold in the first half of 2010 was 30 per cent lower than before the financial crisis began in 2008. Italy property prices had dropped by 2.5 per cent in the first half of 2009, although they did improve during the the second half last year……………………………………….Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Abu Dhabi office rents fall 27pct, may drop more on new supply

Posted on 29 July 2010 by Laxman  |  Email |Print

From Bloomberg: Abu Dhabi office rents fell 27 percent in the second quarter from a year earlier and will drop further as supply increases by more than half through 2012, Jones Lang LaSalle Inc. said.
Vacancy rates reached 8 percent in the quarter and will also probably increase over the coming years, the property broker said in a research report published today. An abundance of supply in neighboring Dubai will help push down rents, Jones Lang said……………………………………….Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Mumbai: Realty boom to head north

Posted on 29 July 2010 by Laxman  |  Email |Print

From Hindustantimes.com: All roads in the construction industry will soon be leading to the north of the city. The state government’s recent decisions regarding increasing floor space index (FSI), easing of Coastal Regulatory Zone (CRZ) rules and redevelopment of the Bandra Government Colony, will ensure a fresh supply of homes in a couple of years.
The state has also decided to give buildings built before 1969 higher FSI for redevelopment. Real estate experts say considering the limitations of the island city, the suburbs are the best destination to create adequate housing stock……………………………………….Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Top price for Hong Kong site

Posted on 29 July 2010 by Laxman  |  Email |Print

From WSJ: A rare luxury residential site in Hong Kong’s upmarket Peak district was sold at a government auction Wednesday for 10.4 billion Hong Kong dollars (US$1.34 billion), in line with market expectations, the latest sign the city’s robust property market remains buoyant.
The site at 103 Mount Nicholson Road was sold to Nan Fung Group, which isn’t publicly traded, and the blue-chip Wharf Holdings Ltd……………………………………….Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Australian property prices will rise 30pct

Posted on 29 July 2010 by Laxman  |  Email |Print

From Opp.org.uk: An undersupply in the Australian property market will force residential property prices up by 30% in the country according to Frank Gelber, chief economist at BIS Shrapnel.
Quoted in the Sydney Morning Herald, Gelber said “we haven’t got a bubble in our residential market. We’re undersupplied, not oversupplied … [House] prices will go up another 30 per cent over the next three years.”………………………………………Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

U.S. home vacancies fall in Q2, rentals steady

Posted on 28 July 2010 by Laxman  |  Email |Print

From Reuters: The rate of vacancies for U.S. homes slipped slightly in the second quarter, a government report showed on Tuesday, but it was not enough to promise improvement in the hard-hit housing market.
The homeowner vacancy rate eased to 2.5 percent from 2.6 percent in the January-March period, the Commerce Department said. Compared with the second quarter of 2009, the rate was unchanged……………………………………….Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Home prices in 20 U.S. cities rose more than forecast

Posted on 28 July 2010 by Laxman  |  Email |Print

From Bloomberg: Home prices in 20 U.S. cities rose more than forecast in May from a year earlier as a government tax credit temporarily underpinned sales.
The S&P/Case-Shiller index of property values increased 4.6 percent from May 2009, the biggest year-over-year gain since August 2006, the group said today in New York. Another report showed consumer confidence dropped this month to the lowest level since February……………………………………….Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

No ’sustained recovery’ in real estate prices

Posted on 28 July 2010 by Laxman  |  Email |Print

From Inman.com: A monthly home-price index of 20 major cities nationwide rose 4.6 percent year-over-year in May, according to the latest Standard & Poor’s/Case-Shiller National Home Price Indices report.
The indices, which are based on repeat sales of single-family homes over time, have a base value of 100, with levels above 100 representing the percentage of home-value appreciation since January 2000……………………………………….Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Home ownership falls to lowest level in 11 years

Posted on 28 July 2010 by Laxman  |  Email |Print

From CNNMoney.com: The number of Americans who own homes fell in the second quarter of the year to the lowest level since 1999, said a government survey released Tuesday.
The Census Bureau said the home ownership rate fell to 66.9% in the second quarter of 2010, down half a percentage point from the previous year. The home ownership rate was 67.1% in the first quarter of the year……………………………………….Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

US: Supply of homes set to grow

Posted on 28 July 2010 by Laxman  |  Email |Print

From WSJ: Sales of new homes are near 47-year lows, yet the supply of new and existing homes is expected to grow in the months ahead as construction ramps up and a wave of foreclosed homes hits the market.
In June, new-home sales were running at a seasonally adjusted annual rate of 330,000 units, the Commerce Department said Monday. While that was up 23.6% from the all-time low of 267,000 in May, the June figures were the second lowest on record……………………………………….Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

US housing: Hooray for bad news

Posted on 28 July 2010 by Laxman  |  Email |Print

From Economist.com: Strangely enough, many news outlets have reported todays figure on new home sales for the month of June in a positive fashion.
So what about that sales figure? Well, the number everyone has seized on is the 25% increase in sales from May to June. And that sounds great! But May new home sales (seasonally adjusted, annual rate) set the all-time record low for monthly sales……………………………………….Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

A decade of falling house prices

Posted on 28 July 2010 by Laxman  |  Email |Print

From Marketoracle.co.uk: The housing depression will last for a decade or more. This is by design. The Fed has been working with the banks to withhold inventory so prices do not fall too fast or too far. That way the banks can manage their write-downs without slipping into insolvency.
But what’s good for the banks is bad for the country. Capital impairment at the banks, means no credit expansion in the near-term……………………………………….Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

US Treasury pushes ahead on housing finance reform

Posted on 28 July 2010 by Laxman  |  Email |Print

From Reuters: The Obama administration said on Tuesday it would present a proposal for comprehensive reform of housing finance giants Fannie Mae and Freddie Mac to Congress by January.
The two companies, which buy mortgages to free up lenders to lend again, have taken more than $145 billion from taxpayers since then-Treasury Secretary Henry Paulson seized them in 2008 as mortgage losses ballooned amid a severe financial crisis……………………………………….Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Case says U.S. housing market `dead in the water’: Video

Posted on 28 July 2010 by Laxman  |  Email |Print

From Bloomberg: Karl Case, an economics professor at Wellesley College and co-creator of the S&P/Case-Shiller home-price index, discusses the U.S. housing market.
The S&P/Case-Shiller index of property values increased 4.6 percent in May from the same month a year ago, marking the biggest year-over-year gain since August 2006, the group said today in New York……………………………………….Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

US commercial property services cos rebound in Q2

Posted on 28 July 2010 by Laxman  |  Email |Print

From Reuters: Two of the world’s largest commercial real estate services firms reported sharply improved earnings on Tuesday, fueled chiefly by a pickup in building sales and leasing, particularly in the United States.
U.S. commercial real estate has been struggling since it began to weaken in late 2007, with activity falling precipitously last year. That hurt commercial real estate firms such as Jones Lang LaSalle Inc and CB Richard Ellis Group, which rely heavily on sales and leasing commissions……………………………………….Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

The perils of buying under-construction property in Brazil

Posted on 28 July 2010 by Laxman  |  Email |Print

From Brazzil.com: With the increasing amount of Brazilian and international property buyers acquiring pre-construction real estate (commonly referred to as ‘na planta’); the numbers of related concerns have also witnessed growth.
Difficulties include how rights to the property are protected contractually; structural problems with the building itself; communal area issues and the long periods of time it can take to get matters dealt with by development companies and constructors……………………………………….Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

banner
banner
July 2010
M T W T F S S
« Jun   Aug »
 1234
567891011
12131415161718
19202122232425
262728293031