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Real Estate Briefing - Archive | March, 2012

Global house prices: Downdraft

Posted on 30 March 2012 by Laxman  |  Email |Print

From the late 1990s home prices across the rich world soared relentlessly upward, borne aloft on a gale of cheap capital. In 2006 some overvalued markets began crashing to earth. Until recently, however, the correction seemed remarkably contained. American and Irish home prices plunged, giving up all the gains of the previous decade, but others have fallen far less steeply.
Some markets faltered and then stabilised. The latest update of The Economist’s global house-price indicators hints that this period of post-crisis calm may be coming to an end………………………………………..Full Article: Source

Canada: Banks can absorb hit to housing market

Posted on 30 March 2012 by Laxman  |  Email |Print

Ed ClarkDespite soaring mortgage lending, Canadian banks are strong enough to absorb any hit that might result from a potential real estate correction, said Ed Clark, chief executive of Toronto-Dominion Bank.
Unlike U.S. banks, lenders on this side of the border did not get involved in the kind of risky practices that helped drive the U.S. housing boom of the previous decade and that ultimately caused so much carnage when the crisis hit in 2008, Mr. Clark told shareholders at TD’s annual meeting………………………………………..Full Article: Source

US: In two years, real estate will rock

Posted on 30 March 2012 by Laxman  |  Email |Print

Housing starts will nearly double by 2014, and home prices will begin to rise in 2013, with prices increasing significantly in 2014. Those rosy predictions come from a new semi-annual survey of 38 of the nation’s leading real estate economists and analysts by the Urban Land Institute’s Center for Capital Markets and Real Estate.
The economists foresee broad improvements for the nation’s economy, real estate capital markets, real estate fundamentals and the housing industry through 2014, including: The national average home price is expected to stop declining this year, and then rise by 2 percent in 2013 and by 3.5 percent in 2014………………………………………..Full Article: Source

Outlook for real estate stocks

Posted on 30 March 2012 by Laxman  |  Email |Print

In their search for a sustainable yield, investors have bid up real estate stocks. Lured by sustainable cash yields and a slowly improving U.S. economic picture, investors bid up real estate stocks across industries, giving brief pause when eurozone concerns came to a head.
As capital market stability returned toward the end of the quarter, it appears that real estate stocks, in aggregate will likely finish at a slight premium, in aggregate, to our estimate of fair value………………………………………..Full Article: Source

More investors, vacationers snap up homes

Posted on 30 March 2012 by Laxman  |  Email |Print

Sales of investment and vacation homes surged last year, the latest evidence that investors and higher-income households are taking advantage of low home prices to scoop up bargains.
In its annual survey of investment- and vacation-home sales, the National Association of Realtors found that the number of homes purchased by investors rose 65% during 2011 to 1.2 million, accounting for 27% of all home sales. In 2010, investment properties accounted for 17% of all sales………………………………………..Full Article: Source

Investment home buying jumps 65pct amid foreclosures

Posted on 30 March 2012 by Laxman  |  Email |Print

Investment home buying really got down to business last year — half of such purchasers picked up distressed properties, 49% paid cash and 41% bought two or more.
Sales of homes intended as investments soared 65% nationwide to 1.23 million while vacation home sales rose 7% to 502,000, according to a report out Thursday. Together, investment and vacation homes now account for their highest share of the real estate market since 2005………………………………………..Full Article: Source

Goldman bets on property rebound with new fund: Mortgages

Posted on 30 March 2012 by Laxman  |  Email |Print

Goldman Sachs Group Inc, which survived the subprime mortgage crisis by making bets on a housing decline, is raising money for a new fund that will buy home-loan bonds to benefit from an improving real-estate market.
The U.S. Housing Recovery Fund, which is expected to finish its first round of capital raising and open April 1, will focus on senior-ranked securities without government backing, many of which now carry junk credit grades, according to a marketing document obtained by Bloomberg News………………………………………..Full Article: Source

Recent housing data show a real estate market stuck on a bottom

Posted on 30 March 2012 by Laxman  |  Email |Print

A wide range of stats on the housing markets - both existing homes and new homes - were released over the last week. Now that all the housing news for the month is out, a review of the different data points gives an overall picture of the health of housing and real estate in the U.S. The results discussed here concern single-family housing results.
In February, single family housing permits were issued at a 471,000 annualized basis, up 5 percent from the revised January number of 450,000………………………………………..Full Article: Source

Cuba: The world’s newest real estate market

Posted on 30 March 2012 by Laxman  |  Email |Print

The legalization last November of the purchase and sale of private property in Cuba eroded the appeal of the once all-important permuta — the bureaucratic process of swapping supposedly equivalent dwellings, usually equalized by wads of under-the-table cash.
Although the permuta still exists, and has even been cleared of some of its red tape, few would argue for its use instead of clean and easy property sales, and frenzied reports of an emerging real estate boom in Havana evidence the fact………………………………………..Full Article: Source

Property: Bargain hunters eye European opportunities

Posted on 30 March 2012 by Laxman  |  Email |Print

The growing value in European property was underlined after the biggest US real estate investment trust (Reit), Simon Property Group, completed its acquisition of a 28.7% stake in Klépierre, a French property company, for an estimated $2 billion (£1.2 billion).
Simon Property paid a 20% premium for the equity from the French bank BNP Paribas, which owned around a quarter of the Paris-based Reit………………………………………..Full Article: Source

Investors urged to cast net wider in CEE

Posted on 30 March 2012 by Laxman  |  Email |Print

Cross-border investors should consider opportunities in other markets in Central and Eastern Europe rather than focus exclusively on Poland and the Czech Republic, according to Andreas Ridder, chairman for CBRE in the CEE region.
Potentially high-yielding opportunities also exist in Hungary, Romania, Bulgaria, Croatia and Serbia, Ridder told PropertyEU’s CEE Investment Briefing in London on Wednesday………………………………………..Full Article: Source

U.K. house prices drop most in two years as loans fall

Posted on 30 March 2012 by Laxman  |  Email |Print

U.K. house prices fell the most in two years and mortgage approvals dropped to an eight-month low as economic uncertainty hurt demand for property and banks tightened lending conditions.
Home values dropped 1 percent in March, the biggest decline since February 2010, Nationwide Building Society said in an e- mailed statement today. Lenders granted 48,986 property loans to Britons in February, compared with 57,899 in January, the Bank of England said in a separate report in London………………………………………..Full Article: Source

UK: House prices back in the red for first time in six months as stamp duty hangover hits

Posted on 30 March 2012 by Laxman  |  Email |Print

House prices are falling again annually, Nationwide has reported, as the temporary effect of a minor stamp duty rush finally vanished and property values dipped one per cent in March.
The renewed downturn saw house prices fall 0.9 per cent year-on-year on the building society’s index – the first annual fall in six months. Nationwide’s chief economist Robert Gardner said the slowdown seen in March was to be expected, as the removal of the stamp duty break up to £250,000 for first-time buyers hit, although if the economic outlook improved this dampening effect may fade………………………………………..Full Article: Source

UK: Double housing market blow as prices and mortgage approvals drop

Posted on 30 March 2012 by Laxman  |  Email |Print

Both sides of the property market have been dealt fresh blows, with buyers finding it increasingly hard to get a mortgage and sellers seeing the value of their homes drop.
Figures from the Bank of England show that mortgage approvals dropped to an eight-month low, while Nationwide Building Society reports that UK house prices taking their biggest monthly plunge in two years………………………………………..Full Article: Source

German index posts record returns in 2011: IPD

Posted on 30 March 2012 by Laxman  |  Email |Print

The total return before tax and financing for all German properties reached a record level of 5.5% in 2011, according to the latest research from the Investment Property Databank.
The 5.5% return on the DIX German Property Index exceeded industry expectations, which had put the total return at 4.8% for the year. IPD has been measuring the annual performance of German institutional investors’ property portfolios since 1996. The analyses go back to 1989………………………………………..Full Article: Source

South African property prices up by over 160pct in a decade

Posted on 30 March 2012 by Laxman  |  Email |Print

According to research by Lloyds TSB International, property prices in South Africa have increased by 161% during the last 10 years, in spite of the market remaining quite unstable.
This means South Africa has seen the third highest price gains in the world, with only India and Russia seeing a faster rate of growth. Last year the average South African household income increased by 4.6%, but it’s not all good news as unemployment reached 25% during the third quarter of last year, and house prices fell by 1.1% in 2011………………………………………..Full Article: Source

South Africa: Property market in Mauritius a profitable investment - IOREC

Posted on 30 March 2012 by Laxman  |  Email |Print

The sluggish global economy has not left the property sector unscathed, but the high-end estate market on the Indian Ocean island of Mauritius is showing remarkable resilience.
Murray Adair, CEO of the Indian Ocean Real Estate Company (IOREC) who is developing several luxury resorts in Mauritius in partnership with Flacq United Estates Limited (FUEL), says while there had been a slow-down in the property market, sales transactions in upmarket resorts on the island remain buoyant………………………………………..Full Article: Source

Kenya’s luxury property market records highest growth globally in 2011

Posted on 30 March 2012 by Laxman  |  Email |Print

Kenya’s luxury real estate saw the greatest price increase globally in 2011, according to Knight Frank’s Prime International Residential Index (PIRI), which monitors price changes across the world’s top-end property markets.
Price growth in both Kenya’s capital Nairobi and the country’s Indian Ocean coastal hotspots was more than any of the other global locations included in the Index, with the value of Nairobi’s prime real estate growing by 25% in 2011 and the Kenyan coast by 20%………………………………………..Full Article: Source

Nairobi luxury real estate prices soar

Posted on 30 March 2012 by Laxman  |  Email |Print

Nairobi recorded the highest rate of growth in luxury real estate prices in the world in 2011 with the Kenyan coast coming in second, according to rankings released by the World Wealth Report 2012.
The Kenyan capital city recorded a 25 per cent increase topping the Knight Frank Prime International Residential Index (PIRI), while prices in the Kenyan coast rose by 21 per cent. In third place was Miami at 19 per cent………………………………………..Full Article: Source

Super rich vote Dubai among key global property markets

Posted on 30 March 2012 by Laxman  |  Email |Print

A new report puts Dubai as the 13th most important city in the world for the ultra-wealthy, and eighth in terms of growing in importance to the high net worth individuals (HNWIs). The Wealth Report 2012, published by Knight Frank and Citi Private Bank, ranks 120 global cities for the purpose.
The report is based on the outlook of over 4,000 ultra-rich individuals (worth on average over $100m each) towards a wide range of subjects, including their personal wealth, their feelings on property, both as a home and an investment, and their investment decisions………………………………………..Full Article: Source

Property prices above 2008 high in Mumbai, unsold flats rise too

Posted on 30 March 2012 by Laxman  |  Email |Print

The real estate sector is probably set to repeat its 2008 story of high prices and few buyers. Property experts believe the market is overheating again, breaching the peak levels of 2008, as developers show no sign of lowering prices despite poor sales. A recent Crisil report says sales of new homes declined 40% between March 2011 to Febuary 2012.
An analysis by property research agency Liases Foras shows average property prices are 15% higher in Mumbai and 30% higher in the Mumbai Metropolitan Region (MMR) over their previous peak in June 2008. ……………………………………….Full Article: Source

Revisiting the bull case for China real estate

Posted on 30 March 2012 by Laxman  |  Email |Print

A lot of commentators have been making the case the China’s real estate market is in a huge bubble. That may or may not be the case, but what’s more salient is to what extent the bull market will hold this year.
Earlier in 2012 I published a piece on Emerging Money making a comparison between China real estate stocks and U.S. homebuilders, and noting that there was a possibility for a strong move in China’s stock market because of strong outperformance that expressed itself in the sector back then………………………………………..Full Article: Source

Taiwan: Academics see real-estate bubble

Posted on 30 March 2012 by Laxman  |  Email |Print

Academics warned the government to watch out for over investment in real estate after real estate-related financing approached 50 percent of GDP in January.
Real estate-linked financing — including loans for home purchases, repair and construction — totaled NT$7.15 trillion (US$242.09 billion) at the end of January, accounting for 48.15 percent of GDP, which was valued at NT$14.85 trillion in December last year, said Chuang Meng-han, a professor of industrial economics at Tamkang University………………………………………..Full Article: Source

Australia: Uncertainty may hold opportunity for property investors

Posted on 30 March 2012 by Laxman  |  Email |Print

Our property markets started the year in a tug of war, caught between falling interest rates on the one hand and market uncertainty on the other. Now that we’re almost a quarter of the way through the year, it’s worth reviewing what’s really going on in the property markets and what’s ahead for the rest of the year.
Commsec economist Craig James is calling Australia the boom and gloom economy. Our economy is still growing – unlike many others, especially in Europe – and underpinned by a mining boom, but consumers and businesses are gloomy………………………………………..Full Article: Source

World’s priciest real estate can be found in Monaco

Posted on 29 March 2012 by Laxman  |  Email |Print

If you think real-estate in Manhattan or San Francisco is expensive, consider Monaco. The price of real-estate in Monaco — the world’s most expensive locale — is now an average of $5,408 a square foot, according to a report from Citi Private Bank and Knight Frank, the London real-estate firm.
Spending $1 million will get you a 200 square-foot closet – presumably without a water view.
The second most expensive locale is Cap Ferrat in the south of France, at more than $4,800 a square foot. That’s followed by London, at $4,534 a square foot, and then by Hong Kong, at $4,406 a square foot………………………………………..Full Article: Source

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The world’s house price hotspots

Posted on 29 March 2012 by Laxman  |  Email |Print

Want to make money from property? We look at the best places in the world to buy. Fancy a des res in Delhi or a mansion in Moscow? They may not be the first places you think of when you consider a holiday home location, but perhaps you should take a closer look.
Because property prices in India and Russia have risen faster than anywhere else in the world, according to new research from Lloyds TSB. It says that house prices in India have soared by a whopping 284% in the last ten years - the biggest jump recorded in its Global Housing Market Review………………………………………..Full Article: Source

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US: Full real estate recovery not coming until 2015

Posted on 29 March 2012 by Laxman  |  Email |Print

First, the good news: The real estate market has clawed its way back from the brink and is about a third of the way to a normal, pre-bubble market. The bad news: It’s going to take until the end of 2015 to get us the rest of the way, and recovery could take even longer if the economy loses steam again.
Real estate website Trulia’s new housing barometer shows that real estate is starting to recover from the battering it sustained during the recession……………………………………….Full Article: Source

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Real estate recovery: Are we there yet?

Posted on 29 March 2012 by Laxman  |  Email |Print

The first few months of 2012 have seen some pretty encouraging stats, but after years of nothing but bad news about the housing market, it can be hard to gauge what “normal” is anymore.
According to new measure from real estate website Trulia, we’re about a third of the way back to a normal housing market. The bad news? We’ve got a long way to go. Based on Trulia’s calculations, the United States won’t see a full housing market recovery until 2015………………………………………..Full Article: Source

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U.S: Forecast upbeat on housing recovery

Posted on 29 March 2012 by Laxman  |  Email |Print

The housing market may finally be on the path to a sustainable recovery, according to a new report, but it’s not the cork-popping celebration many under-water homeowners may have hoped for.
The Urban Land Institute, a nonprofit land-use think tank, released on Wednesday its real-estate forecast for the next three years, which shows some encouraging trends in both the residential and commercial sectors through 2014………………………………………..Full Article: Source

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Foreclosure settlement: The $26 bln crapshoot

Posted on 29 March 2012 by Laxman  |  Email |Print

Homeowners hoping the $26 billion foreclosure abuse settlement would mean big savings on their mortgages were mostly disappointed. Even though a million borrowers will have their principals slashed by as much as $100,000 or more, most are not eligible for a workout simply because the bank that issued their mortgages, didn’t hold their mortgages.
During the housing boom years of the early 2000s through 2007, about 20% of loans went into the bank’s own portfolios. The rest were sold off, either to Fannie Mae or Freddie Mac or to investors………………………………………..Full Article: Source

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Charting U.S. real estate desires of Canadian buyers

Posted on 29 March 2012 by Laxman  |  Email |Print

Homebuyers from Ontario — Canada’s wealthiest and most populous province — were among the most active in 10 U.S. real estate markets identified as international hot spots in an Inman News report released this month.
In that report, “10 Hot Spots for Global Homebuyers,” Inman News explores the 10 most popular areas in the U.S. for foreign homebuyers, based on public records of foreign buyers who cite a non-U.S. address. Six of the 10 market areas are in Florida, while the remaining four are in Arizona, New York, Hawaii and Nevada………………………………………..Full Article: Source

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Canadian home price index rises in January

Posted on 29 March 2012 by Laxman  |  Email |Print

Canadian home resale prices edged up in January from December after two months of declines as the big Toronto market showed strength but Vancouver continued to falter, the Teranet-National Bank Composite House Price Index showed on Wednesday.
The index, which measures price changes for repeat sales of single-family homes, showed overall prices rose just 0.1 percent in January from December but were up 6.5 percent from a year earlier. It does not provide actual prices………………………………………..Full Article: Source

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Canadian housing market ‘over-valued’ by nearly 15pct says bank

Posted on 29 March 2012 by Laxman  |  Email |Print

Canada’s booming house prices are 10% to 15% over-valued, the country’s second-biggest bank Toronto-Dominion warned this week, as its chief economist Craig Alexander called for the government to put the brakes on lending growth.
According to Alexander, if Canada’s overvalued residential market were to suddenly unravel, the market correction would be three times the magnitude of the country’s housing market crash in the early 1990s………………………………………..Full Article: Source

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European prime property prices are too high, experts warn

Posted on 29 March 2012 by Laxman  |  Email |Print

Prime property in Europe is no longer driven by fundamentals and looks expensive, warned speakers at the launch of IPD’s pan-European Property Fund Index. At the same time, a panel of industry experts described a cautious optimism about the European macro-economic outlook.
Ben Penalligon, managing director of Prameriga, warned of ‘nosebleed prices’ on prime real estate. On the same panel Matt Ridley, director of research at Fidelity’s real estate department, described a market where prime assets are defined less by their location than by their lease length………………………………………..Full Article: Source

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Villas in Spain continue to dominate overseas property market

Posted on 29 March 2012 by Laxman  |  Email |Print

Buyers from the UK are continuing to look towards Spain for possible investments in the property market abroad. This is according to Rightmove Overseas, which has reported that properties such as villas in Spain are the most popular with those searching the website.
In fact, the country accounted for more than one-fifth (22 per cent) of searches made on the portal over the past month and head of Rightmove Overseas Shameen Golamy said: “Despite nervousness around the Spanish economy in recent weeks, property buyers are undeterred.”……………………………………….Full Article: Source

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Bulgaria plans bill to weed out rogue real estate agents

Posted on 29 March 2012 by Laxman  |  Email |Print

Bulgaria’s real estate brokerage business is set for a cleanup, with plans to table legislation in Parliament later in 2012 to professionalise the business and drive out rogues and rip-off artists from its ranks.
Currently, the property business in Bulgaria is in the doldrums, a sharp contrast to the heady days of the real estate boom of a few years back – a boom that led a number of unscrupulous operators to seek to take advantage, especially because of the unregulated nature of the business………………………………………..Full Article: Source

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Polish market maintains investor appeal: IVG

Posted on 29 March 2012 by Laxman  |  Email |Print

New research from German property company IVG shows that Poland remains highly favoured among international investors and is set to increasingly outperform its Central European neighbours.
The report, entitled ‘Poland: Focal Point of International Investors’, cites two major trends which explain the country’s continuing appeal for investors………………………………………..Full Article: Source

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CBRE: Moscow becomes number six city for commercial property investment

Posted on 29 March 2012 by Laxman  |  Email |Print

Moscow has overtaken Berlin in Western Europe as the number six city in Europe for property investment.
And Paris became the number one city in Europe in the second half of 2011 (H2 2011) in terms of property investment, overtaking Central London to lead global property adviser CBRE’s top 10 list of European investment markets for the first time………………………………………..Full Article: Source

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Foreign investors looking to gain a foothold in Burma

Posted on 29 March 2012 by Laxman  |  Email |Print

Burma attracts a large number of foreign investors looking to invest in office buildings, hotels condominiums and serviced apartments. Tony Picon, associate director for research at Colliers International believes foreign investors are hindered by the investment law in Burma according to The Nation.
“Many foreign investors are looking to invest in the property business. The problem is the current regulation does not support them to do it right now. This is not fair to the Burmese people, who are hopeful that a lot of investment projects are coming into the country. Property is seeing a lot of speculation………………………………………..Full Article: Source

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HK plans locals-only housing to tame property prices

Posted on 29 March 2012 by Laxman  |  Email |Print

The leader-elect of Hong Kong said his government would launch a pilot project to build middle-class housing for residents only, hoping to cool soaring property prices that have sparked a backlash against unlimited sales to overseas buyers.
Mr Leung Chun-ying, who last Sunday won an election to become the next Chief Executive of the territory, said the idea is to sell land for developments that would be restricted to Hong Kong residents. The government owns all land in the city and sells it on long leases………………………………………..Full Article: Source

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Australia: Housing sector still in the doldrums

Posted on 29 March 2012 by Laxman  |  Email |Print

Home owners and developers have felt the icy blast of the deteriorating conditions in the residential market which have triggered a rise in mortgage arrears and profit warnings.
Late payments on mortgages jumped unexpectedly at the end of last year despite a stable economy, a credit ratings agency said. The increase suggests mortgage pain is taking its toll on the already stagnant housing market………………………………………..Full Article: Source

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Housing market isn’t halfway to ‘normal,’ Trulia Barometer says

Posted on 28 March 2012 by Laxman  |  Email |Print

Jed KolkoDespite data that’s emerged over the last six months pointing toward a real estate recovery, Trulia recently found that the current market is not even halfway back to what the online listing service considers to be a normal state, and probably won’t fully stabilize until 2015.
Trulia’s Housing Barometer, which gauges the state of a real estate market recovery based on a few key metrics, found that the housing market has progressed just 34 percent of the way toward a complete recovery………………………………………..Full Article: Source

Bidding wars erupt as U.S. supply of homes for sale falls

Posted on 28 March 2012 by Laxman  |  Email |Print

Mark ZandiBidding wars, absent from most parts of the U.S. residential market since its peak in 2006, are erupting from Seattle and Silicon Valley to Miami and Washington, D.C. The inventory of homes hovers close to a six-year low, while an increase in jobs and record affordability are tempting more buyers.
The number of contracts to buy previously owned homes jumped 14 percent in February from a year earlier, the National Association of Realtors reported………………………………………..Full Article: Source

U.S. home prices fall to 2002 levels

Posted on 28 March 2012 by Laxman  |  Email |Print

The housing market started the new year with a thud. Home prices dropped for the fifth consecutive month in January, reaching their lowest point since the end of 2002.
The average home sold in that month lost 0.8% of its value, compared with a month earlier, and prices were down 3.8% from 12 months earlier, according to the S&P/Case-Shiller home price index of 20 major markets……………………………………….Full Article: Source

Case-Shiller home price index hits new post-financial crisis low

Posted on 28 March 2012 by Laxman  |  Email |Print

A key measure of home prices in large U.S. cities fell to a new post-financial crisis low in January, the latest indication that the housing market continues to hunt for a bottom even as sales pick up.
Economists expected the drop and largely shrugged off the news that the widely followed home price index declined to a level lower than even during the depths of the financial crisis. The Standard & Poor’s/Case-Shiller index in January fell 0.8% from December and dropped 3.8% from January 2011………………………………………..Full Article: Source

Home prices in 20 U.S. cities likely fell at slower rate

Posted on 28 March 2012 by Laxman  |  Email |Print

Home prices in 20 U.S. cities probably fell at a slower pace in the year to January, another sign of stabilization in the residential real estate market, economists said.
The S&P/Case-Shiller index of property values in 20 cities dropped 3.8 percent from January 2011, the smallest decline in three months, after decreasing 4 percent in the previous 12 months, according to the median forecast of 32 economists surveyed by Bloomberg News. Consumer confidence in March fell as gas prices climbed, another report may show………………………………………..Full Article: Source

IHS Global’s Newport on U.S. housing

Posted on 28 March 2012 by Laxman  |  Email |Print

Patrick Newport, an economist with IHS Global Insight, talks about the outlook for the U.S. economy and housing market. Home prices in 20 U.S. cities dropped at a slower pace in January, pointing to stabilization in the real estate market, according to the S&P/Case-Shiller index of property values.
Newport speaks with Mark Crumpton on Bloomberg Television’s “Bottom Line.”……………………………………….Full Article: Source

What does a housing recovery even look like?

Posted on 28 March 2012 by Laxman  |  Email |Print

Everyone can agree that the housing market hasn’t fully recovered yet. But the mixed signals from the sector have made it much harder to tell how far we’ve come–and how far we still have to go.
On the one hand, demand is still weak: mortgage applications are down, housing prices have continued to fall, and rising foreclosures could depress them even further………………………………………..Full Article: Source

Is the housing market (finally) getting better?

Posted on 28 March 2012 by Laxman  |  Email |Print

The housing market peaked six years ago. That’s when my son—who has been out of college and working for two years—was back in high school. How long can a housing bust last?
There are some signs that the market is slowly getting better, if only at an uneven and halting pace. And that’s good news for everyone. Both buyers and sellers benefit from a healthy real estate market, ideally with a slow and consistent rise in prices………………………………………..Full Article: Source

Mexican real estate investment trust upbeat on prospects

Posted on 28 March 2012 by Laxman  |  Email |Print

Mexico’s lone real estate investment trust is optimistic about prospects for growth in the sector, and could soon face competition for investors as at least one other trust lines up to list on the local stock exchange, officials said Tuesday.
Fibra Uno, which a year ago became the first real estate trust–”fibra” by its Spanish acronym–on the local market, last week conducted a follow-up primary offering of certificates for 8.9 billion pesos ($700 million) in a local and international placement………………………………………..Full Article: Source

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