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Real Estate Briefing - Archive | February, 2011

US housing: Is it time to buy?

Posted on 28 February 2011 by Laxman  |  Email |Print

From WSJ: The Relationship Between the National Housing Market and Local Markets Is Breaking Down—and Opportunities Are Cropping Up for Well-Heeled Buyers. Here’s What You Need to Know
Is housing headed for a dreaded double-dip? Or are signs finally pointing to a long-awaited rally? Despite the glum statistics recently, well-heeled buyers in many markets should feel comfortable betting on the latter……………………………………….Full Article: Source

America’s most expensive homes

Posted on 28 February 2011 by Laxman  |  Email |Print

From Montrealgazette.com: Candy Spelling, widow of television giant Aaron, has listed the Manor, Los Angeles’ largest, and arguably most opulent, house up for sale at US$150-million, out-pricing every other listed home in the country.
Just down the street the owner of a sprawling classical style marble mansion is asking for US$125-million, making it the second most-expensive home in America. Yet another home for sale is in the triple-digit millions, a massive but secluded US$100-million Lake Tahoe ranch……………………………………….Full Article: Source

US housing market could see a near-term boost

Posted on 28 February 2011 by Laxman  |  Email |Print

From Morningstar.co.uk: Now over the long term, you’re right, it’s much more difficult to forecast that, but I think one thing that people need to keep in mind is that the supply, the actual new supply, that is injected into the market, that’s new houses being built, new apartments being built, has been more constricted over the past three years than at any time in recorded history back to the 1950s.
So that tells me that at some point–it’s just a matter of time before production increases, prices firm, and the market gets back onto its feet……………………………………….Full Article: Source

Dark days are ahead for U.K. property

Posted on 28 February 2011 by Laxman  |  Email |Print

From WSJ: “A rolling loan gathers no loss” is a principle that has served banks well through the global financial crisis. It is the reason why the U.K. banking sector still has £243 billion ($391.69 billion) worth of outstanding U.K. commercial real-estate loans, mostly backing low-quality “secondary” property, and more than half of it maturing in the next three years.
Provided borrowers could still pay interest, banks were happy to extend loans, postponing major write-downs……………………………………….Full Article: Source

Rich seek safety of London luxury homes in an unstable world

Posted on 28 February 2011 by Laxman  |  Email |Print

From Bloomberg: The scarier things get, the better London homes look to the world’s rich.A widening range of foreign nationals bought houses and apartments in the British capital worth more than 1 million pounds ($1.61 million), lifting values for the fourth consecutive month in February, according to property broker Knight Frank LLP.
Greeks and Spaniards increased investment as their economies reeled and Asians sought a hedge against inflation……………………………………….Full Article: Source

Dutch investors should look at Europe: SLI

Posted on 28 February 2011 by Laxman  |  Email |Print

From Propertyeu.info: Other European countries offer better opportunities at present for real estate investment than the Netherlands, according to Standard Life Investments (SLI).
‘We are not negative on the market in the Netherlands, but in a pan-European context we are neutral. The message is that there are better opportunities for Dutch institutions to investment in real estate outside the Netherlands at the moment,’ said Mark Meiklejon, investment director of Standard Life Investments (SLI)……………………………………….Full Article: Source

CBRE: Polish retail property continues to outperform

Posted on 28 February 2011 by Laxman  |  Email |Print

From Europe-re.com: Continued interest in defensive retail assets and the completion of some prime transactions in Central and Eastern Europe (CEE) resulted in the region’s 2010 retail investment turnover reaching €1.8 billion, twice the level registered in 2009 according to the latest report by CB Richard Ellis (CBRE).
Poland was not only the most liquid market last year, but was also one of the few with strong cross-border investor support. In most other markets, especially in Eastern Europe (EE), local buyers and non-institutional purchasers have become more important……………………………………….Full Article: Source

Israeli homes show world’s third fastest price rise

Posted on 28 February 2011 by Laxman  |  Email |Print

From Globes.co.il: Israeli home prices returned to the top three markets in the fourth quarter of 2010, after falling to fourth place in the third quarter, reports “Global Property Guide’s” in its home prices survey.
Home prices in Israel rose the fastest after the Latvian capital of Riga and Singapore, compared with the fourth quarter of 2009……………………………………….Full Article: Source

Kenya: Regulate real estate sector to protect investors

Posted on 28 February 2011 by Laxman  |  Email |Print

From Businessdailyafrica.com: The real estate market in Kenya is very vibrant and worth billions of shillings, but lacks regulation to protect investors and govern mortgage firms, developers, contractors, architects, engineers, lawyers and advertisers.
The industry has grown over the last few years and as it records a construction boom, so does it face many challenges……………………………………….Full Article: Source

Real estate is the highest valued sector in Saudi Arabia at $347 bln

Posted on 28 February 2011 by Laxman  |  Email |Print

From Cpifinancial.net: According to new research, Real Estate is the highest valued sector in Saudi Arabia at $347 billion, followed by Infrastructure, Oil & Gas, Petrochemicals and Power & Water.
The revelation comes following data derived and analysed from thousands of members utilising Zawya’s Projects Monitor service in 2010. Zawya is a Middle East online business platform……………………………………….Full Article: Source

S.Arabia: Govt plans to provide cheap land for housing

Posted on 28 February 2011 by Laxman  |  Email |Print

From Arabnews.com: Minister of Municipal and Rural Affairs Prince Mansour bin Miteb said the government is striving to make affordable housing plots available for citizens.
“The Ministry of Municipal and Rural Affairs has allocated 130 plots for the General Housing Authority,” said Prince Mansour, adding that the task of making land cheaper needs the efforts of many government departments……………………………………….Full Article: Source

Construction projects in Abu Dhabi now worth US$562.8 bln

Posted on 28 February 2011 by Laxman  |  Email |Print

From Zawya.com: As the regional economy continues on the cautiously optimistic path to recovery, Abu Dhabi is shining as one of the brightest stars in the Middle East’s construction industry, with contracts awarded in the energy, infrastructure and buildings sectors increasing.
Recent figures gathered by Ventures Middle East show that, amid the economic slowdown in 2010, the construction industry in Abu Dhabi witnessed fresh contracts awarded valued at US$35.5 billion; 66 per cent of the value of all contracts awarded in the UAE for 2010……………………………………….Full Article: Source

India: Economic survey: Real estate sector needs reforms

Posted on 28 February 2011 by Laxman  |  Email |Print

From Indiatimes.com: Reforms in the real estate sector is the need of the hour for tackling issues like high stamp duty which often results in otherwise honest people having to deal in black money, according to the Economic Survey 2010-11 tabled by Finance Minister Pranab Mukherjee in the Lok Sabha on Friday.
“There is need for some fundamental reforms like tackling the high stamp duty issue which makes even honest citizens deal in black money,” it said……………………………………….Full Article: Source

India realty looking better than China

Posted on 28 February 2011 by Laxman  |  Email |Print

From Hindustantimes.com: India’s housing sector is likely to fare better than China’s, as investors are upbeat on India, said the global head of an international real estate consultancy firm. “During recent meetings with investors we got this feeling that as of now they are more comfortable investing in India than in China,” said Patrick Ramsay, global head, residential real estate, Knight Frank.
Residential real estate prices in China and India are increasing, especially in cities such as Beijing, Shanghai, Mumbai and the National Capital Region (NCR). There are also indications of a price bubble in these cities……………………………………….Full Article: Source

Nepal’s growing middle class takes to the malls

Posted on 28 February 2011 by Laxman  |  Email |Print

From Independent: When the first indoor shopping complex opened in Nepal’s ancient capital Kathmandu in the 1980s, it was such a novelty that visitors had to be shown how to use the escalator.
Few residents of the city, celebrated for its rich cultural heritage and historic palaces, had ever shopped anywhere except the centuries-old bazaars that still do a brisk trade in everything from spices to saris……………………………………….Full Article: Source

China gets tough on property speculators

Posted on 28 February 2011 by Laxman  |  Email |Print

From Theglobeandmail.com: As a lifelong Beijinger preparing for retirement, Luan Yanju followed the lead of thousands of other Chinese investors hoping to insulate themselves against volatile stocks and low-return bank accounts: She invested her savings in property.
Ms. Luan, who until two years ago worked for German car manufacturer Mercedes, acquired clothing stalls in three Beijing markets, and a second apartment in Miyun district just north of Beijing’s city limits……………………………………….Full Article: Source

China’s tightening measures hurt foreign investors: experts

Posted on 28 February 2011 by Laxman  |  Email |Print

From Chinapost.com.tw: China’s latest round of measures to curb property price growth has had a negative effect on foreign institutional investors, industry experts said.
“We’ve investigated a number of projects since the last quarter of 2010. Though reducing market liquidity has made the price of assets more attractive, the tightening regulations have made investment much more difficult,” said David Edwards, regional director at LaSalle Investment Management, a U.S. real estate fund with US$45 billion under management……………………………………….Full Article: Source

China citizens bet on Singapore homes

Posted on 28 February 2011 by Laxman  |  Email |Print

From Todayonline.com: More mainland Chinese are buying private homes in Singapore, with a record number doing so in the last quarter of last year, according to data from the Urban Redevelopment Authority (URA).
And with the Chinese government rolling out more drastic measures to cool its overheated market - such as higher down payment norms for second home purchases and a property tax in Shanghai and Chongqing - analysts say more Chinese will park their money in property here……………………………………….Full Article: Source

Capitamall Trust says buys Singapore property for S$295 mln

Posted on 28 February 2011 by Laxman  |  Email |Print

From Reuters: Singapore’s CapitaMall Trust Management said on Monday it has entered an agreement to buy a shopping mall in the city-state, Iluma, for S$295 million ($231 million).
“Iluma is a new shopping mall in Singapore located at Victoria Street opposite the popular Bugis Junction, one of CMT’s existing properties. The mall has a net lettable area of 185,190 square feet,” CapitaMall Trust said in a statement……………………………………….Full Article: Source

North America: Four key factors that drive the real estate market

Posted on 25 February 2011 by Laxman  |  Email |Print

From Theglobeandmail.com: Real estate represents a significant portion of most people’s wealth, and this is especially true for many homeowners in Canada and the United States. The average North American has nearly one-third of his or her net worth tied up in real estate, translating to a valuation of nearly $20 trillion dollars for the entire market.
The size and scale of the real estate market make it an attractive and lucrative sector for many investors………………………………………..Full Article: Source

Home prices in U.S. decline 4pct on foreclosures, FHFA says

Posted on 25 February 2011 by Laxman  |  Email |Print

Paul DalesFrom Bloomberg: U.S. home prices fell 4 percent in the fourth quarter from a year earlier as record foreclosures sapped the confidence of homebuyers, according to the Federal Housing Finance Agency.
The drop was the 13th consecutive year-over-year retreat and the largest since 2009’s third quarter, the Washington-based agency said today in a report. Prices fell 0.8 percent from the prior three months. On that basis, economists projected a 0.6 percent decline, the median estimate in a Bloomberg survey………………………………………..Full Article: Source

US foreclosed-home sales smaller percentage of total in 2010 -RealtyTrac

Posted on 25 February 2011 by Laxman  |  Email |Print

From WSJ: Foreclosed homes represented a smaller percentage of total housing sales last year, though they sold at a slightly bigger discount while overall sales volume declined, RealtyTrac reported Thursday.
James J. Saccacio, chief executive of the market researcher, predicted that accelerating foreclosure sales this year would help clear out oversupply of distressed properties, which would help balance the market in the long run but weigh down prices in the short term………………………………………..Full Article: Source

US property rebounds to double digit returns, led by apartments – IPD

Posted on 25 February 2011 by Laxman  |  Email |Print

From IPE: Real estate in the US has delivered the strongest performance for five years, posting a total return of 15.1% for the whole of 2010, according to Investment Property Databank (IPD).
Latest figures from the IPD US Quarterly Property Index show a dramatic turn-around in fortune for the market which produced a negative return of -18.7% in 2009………………………………………..Full Article: Source

U.S. commercial mortgage defaults decline as prices recover

Posted on 25 February 2011 by Laxman  |  Email |Print

From Bloomberg: Defaults on commercial real estate mortgages held by U.S. banks fell in the fourth quarter from the previous three months, the first decline in almost five years, as prices began to recover, Real Capital Analytics Inc. said.
The default rate on loans for office buildings, malls and other commercial properties dropped to 4.28 percent of loan balances from 4.36 percent in the third quarter, according to the New York-based real estate research firm. It was the first such decline since the first quarter of 2006………………………………………..Full Article: Source

A bright spot in housing’s bad market: Rentals

Posted on 25 February 2011 by Laxman  |  Email |Print

From CNN: Housing bear David Rosenberg says that apartment REITs should continue their streak for the foreseeable future. At a time when virtually all things real estate have been distressed, there’s one corner of the sector that has been fruitful for investors.
Many factors working against the residential housing market have actually helped returns on real estate investment trusts………………………………………..Full Article: Source

Alberta housing affordability best in Canada: RBC

Posted on 25 February 2011 by Laxman  |  Email |Print

From Calgaryherald.com: Alberta officially became the most affordable province in the country for home ownership in the fourth quarter of 2010 and affordability in Calgary is now the best it’s been in almost six years, says a new report released Thursday by RBC.
The Housing Trends and Affordability report said a gradual but steady recovery in housing demand in the past half-year has just begun to bolster market conditions in the Calgary area by drawing the prolonged slump since 2007 closer to an end………………………………………..Full Article: Source

Brazil housing industry set for stupendous growth

Posted on 25 February 2011 by Laxman  |  Email |Print

Due to the access of large number of real estate developers, increasing demand for real estate finance, and residential property, the Brazilian housing industry has witnessed tremendous growth during the past few years. Over a period of time, booming economy, government funding, large population base, and other secondary factors have provided a desired platform for the housing industry to grow to new horizons.
Our report identifies that, Brazil has emerged as one of the favorable destinations for the real estate developers to tap unexplored opportunities in the housing sector, despite gloomy economic environment. This is largely due to the fact that the country is facing massive housing shortage owing to the demand-supply mismatch. The low cost or affordable housing units are fast emerging as the next area of growth in the country’s housing sector………………………………………..Full Press Release: Source

European property investment activity and valuations diverge further between north and south

Posted on 25 February 2011 by Laxman  |  Email |Print

From Europe-re.com: According to the latest research report, produced by Invista Real Estate Investment Management, Europe’s economic recovery is gaining momentum but within the EU competitiveness is diverging, with northern Europe generally doing better than the south.
In order to readdress this, Invista says that reforms are urgently needed in some countries, with those on the periphery set to benefit the most from these………………………………………..Full Article: Source

UK commercial property growth up just 0.1pct

Posted on 25 February 2011 by Laxman  |  Email |Print

From Professionalpensions.com: UK commercial property capital growth rates improved just 0.1% last month as stagnating yields and rents continued to contribute to a “lacklustre” market, Investment Property Databank says.
Capital growth across retail and industrial property showed an average rate of 0.1% in January 2011, with office space flat lining at a 0% rate. Average income returns remained constant at 0.6% for the 14th consecutive month, giving a headline total return of 0.7%………………………………………..Full Article: Source

UK property market remains stagnant

Posted on 25 February 2011 by Laxman  |  Email |Print

From Investortoday.co.uk: Further proof - if it was ever needed - of the grim state of the UK property market has emerged with the latest statistics from the British Bankers’ Association. They reveal that mortgages approved by its members in January for home buyers were 29% lower than a year ago.
Just 28,932 loans were approved for house purchase last month. Hardly surprising then that property sales fell in January to their lowest level for a year………………………………………..Full Article: Source

Interest in UK farmland property increases

Posted on 25 February 2011 by Laxman  |  Email |Print

From Ibtimes.com: Over the past three years, investors with agricultural property in their portfolio have found that their assets have topped the investment performance league in the UK.
Since the start of the economic downturn, property consultant Savills has championed the benefits of farmland and forestry real estate, with it acting as a good hedge against inflation. Added to this, its weak correlation with mainstream assets means it performs well when other assets are showing poor returns, the body explains………………………………………..Full Article: Source

Bouwfonds’ residential fund shops in Germany, France

Posted on 25 February 2011 by Laxman  |  Email |Print

From Propertyeu.info: Bouwfonds Real Estate Investment Management said that its EUR 315 mln open-ended property fund, European Residential Fund has increased its property portfolio with new acquisitions in Germany and France.
The investment vehicle has spent just over EUR 73 mln in acquisitions of multi-family apartments and residences in Munich, Meerbusch and Montpellier………………………………………..Full Article: Source

House price growth halted as economic recovery falters in Denmark

Posted on 25 February 2011 by Laxman  |  Email |Print

From Globalpropertyguide.com: Strong house price increases in the first of 2010 were not sustained in the second half as prices froze. Weaker economic growth combined with problems in the banking sector pushed Denmark’s housing market to adopt a wait-and-see attitude.
After increasing by an average of 2.6% q-o-q from Q4 2009 to Q2 2010, the average price of owner-occupied flats in Denmark fell 1.4% q-o-q to Q3 2010………………………………………..Full Article: Source

Polish retail property continues to outperform: CBRE

Posted on 25 February 2011 by Laxman  |  Email |Print

From Propertyeu.info: Continued interest in defensive retail assets and the completion of some prime transactions in Central and Eastern Europe (CEE) resulted in the region’s 2010 retail investment turnover reaching EUR 1.8 bn, twice the level registered in 2009, according to research by CB Richard Ellis (CBRE).
Poland was not only the most liquid market last year, but was also one of the few with strong cross-border investor support. In most other markets, especially in Eastern Europe (EE), local buyers and non-institutional purchasers have become more important………………………………………..Full Article: Source

Shortage of Prague office space to fuel rise in value

Posted on 25 February 2011 by Laxman  |  Email |Print

From Ceskapozice.cz: Jones Lang LaSalle’s Tewfik Sabongui tells Czech Position what the impact of undersupply will be on Prague’s office market. If you wanted to find a single word to define the key issue on Prague’s real estate market today “undersupply” would be an excellent choice.
Tewfik Sabongui, managing director of Jones Lang LaSalle (JLL) for the Czech Republic and Slovakia, says that the number of projects put on hold or canceled during the economic crisis will have a major impact on the market over the coming years………………………………………..Full Article: Source

Dubai property sales improve

Posted on 25 February 2011 by Laxman  |  Email |Print

From Thenational.ae: The recent surge in home sales in Dubai has not been affected by the recent political unrest in the Middle East, say property agents. The number of transactions has been steadily increasing in the emirate over the past few months, they say.
“We’re busy,” said Jackie Johns, a managing partner of Dubai Luxury Homes………………………………………..Full Article: Source

Oman real estate shows green shoots of recovery

Posted on 25 February 2011 by Laxman  |  Email |Print

From Arabianbusiness.com: Oman’s battered real estate market is showing early signs of recovery after seeing prices plunge 25 percent from their peak, industry experts have said.
The sultanate, which offers full freehold ownership and residency visas to homeowners, is slowly emerging from the gloom of the past two years, said Michael Lenarduzzi, CEO of state-backed real estate development The Wave………………………………………..Full Article: Source

India: Will the budget help home buyers?

Posted on 25 February 2011 by Laxman  |  Email |Print

From WSJ: If there is one sector which could really do with some budget incentives, that’s the real estate one. For the past three months it has performed consistently worse than the broader market. This may change when the annual budget is unveiled on Monday.
Providing affordable housing is a government priority so developers are hoping the upcoming budget will include incentives for home buyers………………………………………..Full Article: Source

India: Need to bring real estate under purview of GST

Posted on 25 February 2011 by Laxman  |  Email |Print

From Financialexpress.com: Recent weeks have seen some action and initiative from the Union finance minister and the central government, reviving some hopes on the Goods and Services Tax (GST) front.
The third version of the Constitutional Amendment and its possible tabling by the central government in this Budget session after discussions with the Empowered Committee of State Finance Ministers are significant developments………………………………………..Full Article: Source

LaSalle: Luxury residential properties in big Chinese cities face correction risks

Posted on 25 February 2011 by Laxman  |  Email |Print

From Dow Jones: Investors should be cautious about a possible correction in the prices of luxury residential properties in first-tier Chinese cities such as Beijing and Shanghai because of policy risks, real estate consultancy LaSalle Investment Management said Thursday.
LaSalle also warned of risks in some new residential properties and low to mid-end hotels in locations away from the country’s big cities. Beijing’s policies to rein in prices in the property market have raised property investment risk to a high level, it said, without elaborating………………………………………..Full Article: Source

Chinese Vice Premier calls for building of 10 mln affordable housing units this year

Posted on 25 February 2011 by Laxman  |  Email |Print

From Xinhua: Chinese Vice Premier Li Keqiang on Thursday ordered local governments to increase funding for affordable housing projects, stressing that the construction of 10 million units was a mandatory task that must be fulfilled this year.
Speaking at a national conference on affordable housing for low and middle income groups, Li said that the construction of 10 million affordable housing units this year is of great significance for the government to stabilize public expectations, control housing prices, improve people’s lives and boost domestic consumption………………………………………..Full Article: Source

CIC goes shopping in Japan, for property

Posted on 25 February 2011 by Laxman  |  Email |Print

From WSJ: China Investment Corp.’s most high-profile real estate investment in Japan so far is just the sovereign wealth fund’s latest move in steadily building up its property portfolio.
CIC, together with Blackstone Group L.P., agreed to buy a Japanese property loan portfolio from Morgan Stanley last……………………………………….Full Article: Source

Singapore’s swift property curbs leave market fuming

Posted on 25 February 2011 by Laxman  |  Email |Print

From Property-report.com: On 13 January, the Singapore government announced a slew of property curbs that came into effect the very next day. The decision to implement another round of property cooling measures received mixed reactions from the industry, with some saying the implementation was too sudden and too soon.
According to PropNex, private home sales in December 2010 recorded 1, 699 transactions. This included the highest number of transactions in December for the last few years, as well as the fourth highest monthly sales volume for 2010………………………………………..Full Article: Source

Real estate ETFs may not be at the bottom…Yet

Posted on 25 February 2011 by Laxman  |  Email |Print

From Etftrends.com: While the overall economy is improving, real estate exchange traded funds (ETFs) are still moving along in fits and starts.
S&P/Case-Shiller Home Price Index revealed that U.S. home values dropped 3.9% in the fourth quarter of 2010 year-over-year. It was the worst performance since mid-2009, writes Cinthia Murphy for IndexUniverse………………………………………..Full Article: Source

Can REITs keep rolling?

Posted on 25 February 2011 by Laxman  |  Email |Print

From Moneyshow.com: No sector in the US market-not one-has done as well as real estate investment trusts since the bull market began just about two years ago.
REITs, publicly traded vehicles which own commercial property and pay out 90% of their income to shareholders, have beaten financials, consumer discretionary stocks-even gold-during the big rally from the market’s bottom in March 2009………………………………………..Full Article: Source

US home sales rise, price slump points to weakness

Posted on 24 February 2011 by Laxman  |  Email |Print

From Reuters: Surging sales of distressed properties pushed prices for previously owned U.S. homes to a near nine-year low in January, even as they helped to lift overall sales to an eight-month high.
The National Association of Realtors said on Wednesday existing homes sales climbed 2.7 percent to an annual rate of 5.36 million units, marking the third straight month of gains. Economists had expected a fall to a 5.24 million-unit pace………………………………………..Full Article: Source

Carnage not over in U.S. housing industry

Posted on 24 February 2011 by Laxman  |  Email |Print

Paul DalesFrom Theglobeandmail.com: Bloodied though it may already be, the U.S. housing industry is in for still more. Tuesday, the latest reading of the widely watched S&P/Case-Shiller home price index showed house prices slipping again in December, falling a further 0.4 per cent from November despite better economic signs from the world’s largest economy.
That shows the U.S. real estate sector firmly in a double-dip, economists say, and some believe the carnage isn’t over………………………………………..Full Article: Source

Recovery still a ways off for U.S. housing market

Posted on 24 February 2011 by Laxman  |  Email |Print

From Philly.com: Except in two cities where prices have hit bottom and are rising again ever so slowly, the nation’s housing market still appears several quarters from recovery. Case-Shiller index data through December, released Tuesday, show prices falling 3.9 percent during the fourth quarter of 2010.
Year-over-year, the national index was 4.1 percent lower. Only San Diego and Washington saw prices rise. Seasonal demand accounts for part of the December decline, but economist Patrick Newport of IHS Global Insight in Lexington, Mass., said that “foreclosures and weak demand played a larger role” in the price drop………………………………………..Full Article: Source

Wealthy areas again see rise in homes prices

Posted on 24 February 2011 by Laxman  |  Email |Print

From Marketwatch.com: New York area home prices have held up better than most other major metropolitan areas, with wealthy commuting suburbs providing the bulk of recovery while towns farther from the city have lagged, brokers and analysts said.
Those mixed results came after a national survey this week found that December home prices in the New York metropolitan area hit their lowest level since 2004, according to the S&P/Case Shiller Index………………………………………..Full Article: Source

The housing market: What the media’s not telling you

Posted on 24 February 2011 by Laxman  |  Email |Print

From Wallstreetpit.com: We have been hearing how the housing market is improving and how it is time to jump in and buy housing stocks. Sounds optimistic, but do not be fooled by the cheerleading. In my view, housing continues to be a cesspool for capital.
Yes the housing market is better than it was a year ago, but not to the degree where I would advise jumping in and buying—of course, unless you are looking to buy real estate, which remains at distressed prices………………………………………..Full Article: Source

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