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Real Estate Briefing 26.Apr 2012

Posted on 26 April 2012 by Laxman |  Email |Print

It’s spring, the time when Americans traditionally think about new homes — trading up for growing families, downsizing for retirees, picking up a vacation home or buying a starter home to escape renting.
But four years after the start of the financial crisis, and six years after home prices began to collapse, the market is still shaky. Nationally, prices are about 35% below their peaks in 2006, according to the S&P/Case-Shiller Home Price Indices released on April 24, and in some markets homes have lost 60% of their value………………………………………..Full Article: Source

Posted on 26 April 2012 by Laxman |  Email |Print

The US housing market is showing more signs of stabilization as price declines ease and home demand improves, spurring several economists to call a bottom to the worst real estate collapse since the 1930s.
“The crash is over,” Mark Zandi, chief economist for Moody’s Analytics Inc. in West Chester, Pennsylvania, said in a telephone interview yesterday. “Home sales — both new and existing — and housing starts are now off the bottom.”……………………………………….Full Article: Source

Posted on 26 April 2012 by Laxman |  Email |Print

The sputtering U.S. housing market sent out mixed signals on Tuesday. The number of new homes sold in March fell to its lowest level in four months, while home prices in February slid 3.5% compared to the same month last year.

Sales in March, however, beat estimates while figures from previous months were higher than initially reported, the Commerce Department said………………………………………..Full Article: Source

Posted on 26 April 2012 by Laxman |  Email |Print

Online real estate marketplace Zillow said home values rose 0.5 percent in March from February, the largest monthly increase since May 2006 when the housing recession began. Zillow’s report describing the first quarter follows two other reports about the housing market released on Tuesday.

The Standard & Poor’s/Case-Shiller home-price index showed average home prices tumbled to their lowest level in nearly a decade, after prices dropped in February from January in 16 of the 20 cities it tracks………………………………………..Full Article: Source

Posted on 26 April 2012 by Laxman |  Email |Print

Are we finally starting to recover from the housing crisis? Everyone seems to have an opinion, but the facts present a mixed picture.
“You’ve undoubtedly heard that ‘all real estate is local,’ and that’s never been more true,” says first-time homebuyer specialist and California real estate broker Greg Cook. The Miami real estate market is a great example of this aphorism………………………………………..Full Article: Source

Posted on 26 April 2012 by Laxman |  Email |Print

Don Miller writes: Analysts, government officials and certainly homebuyers are spending hours trying to figure out if we have reached the housing market bottom. Tuesday’s data would seem to suggest the bottom is a bit bumpier than most people think.

According to the S&P/Case-Shiller home price index of 20 cities, home prices declined 3.5% from a year ago, while the 10-city composite slipped 3.6%. That meant fresh new post-bubble lows for home prices………………………………………..Full Article: Source

Posted on 26 April 2012 by Laxman |  Email |Print

Investment banks including Goldman Sachs, JPMorgan Chase, Citigroup and Morgan Stanley may slash and burn dozens of jobs as soon as next month, as my colleague Halah Touryalai reports. And these positions may never be replaced. It’s the latest round of layoffs for Wall Street, which let thousands of workers, particularly traders, go in 2011.
Wall Streeters have already suffered some discouraging news this year, as cash bonuses for work done in 2011 were cut and capped………………………………………..Full Article: Source

Posted on 26 April 2012 by Laxman |  Email |Print

Fresh economic benchmarks painted a mixed picture of the nation’s housing market, reflecting a sector that is inching forward amid fits and starts.

The most closely watched indicator Tuesday was the Standard & Poor’s/Case-Shiller index, which tracks home prices in 20 cities. The index hit a new low in February, falling 3.5% below its year-earlier mark to a level not seen since late 2002. But the decline represented an improvement from a corresponding 3.9% year-over-year drop recorded in January or the 4.1% drop in December………………………………………..Full Article: Source

Posted on 26 April 2012 by Laxman |  Email |Print

The U.S. has significantly reduced its air pollution, but there’s still a lot of work to be done. These 10 cities had the highest levels of year-round particle pollution, according to the American Lung Association’s 2012 rankings.
Bakersfield sits in a bowl surrounded on three sides by the Sierras and the California coastal ranges. Air drifts down the valley from other cities and lingers, allowing pollutants to build up, according to Jaime Holt, chief communications officer for the San Joaquin Valley Air Quality District. Making matters worse, the sun bakes the air, causing photochemical smog. And the dry weather adds dust particles to the mix………………………………………..Full Article: Source

Posted on 26 April 2012 by Laxman |  Email |Print

Bank of Canada policy makers are weighing whether to raise interest rates over the next few months, so you can bet they’ll be looking to any drop of news from the housing market to help guide their decisions.

Although it’s a bit long in the tooth, the Teranet-National Bank Composite House Price Index for February comes out Wednesday, offering a gauge of how much more or less it costs to buy an existing single-family home. The index is rather limited on the whole, in that it does not provide actual prices, and it only tracks the rate of change in prices on properties where homes have been sold at least twice………………………………………..Full Article: Source

Posted on 26 April 2012 by Laxman |  Email |Print

Investment turnover in the European commercial real estate market slowed at the start of 2012, largely reflecting a seasonal slowdown in activity, according to the latest research by global property adviser CBRE.

The commercial property investment market totalled just under €24 bn in the first quarter of 2012 (Q1 2012), which represents a 31% fall in activity compared with the last quarter of 2011 and an 18% decline versus Q1 2011, bringing turnover broadly in line with activity during Q1 2010………………………………………..Full Article: Source

Posted on 26 April 2012 by Laxman |  Email |Print

Prime office rents fell by 0.3% in Q1 2012, according to the Jones Lang LaSalle European Office Index. This is the first overall recorded reduction in rents since Q4 2009.
The net reduction masked both rises and falls across several prime office rental markets. Falls were recorded in Brussels (-5.0%), Madrid (-1.9%), Barcelona (-1.4%) and Paris (-1.2%) whilst rental increases were recorded in Luxembourg (+5.3%), Stockholm (+2.4%) and Hamburg (+2.1%)………………………………………..Full Article: Source

Posted on 26 April 2012 by Laxman |  Email |Print

Public confidence that house prices will rise over the coming months is at its strongest in at least a year, a study has suggested. Some 39pc of those questioned by the Halifax housing market confidence tracker believe prices will generally increase over the next year, almost double the 20pc of people who predict they will fall.
Researchers said this is the most positive view since the quarterly series began 12 months ago, with Londoners the most confident about rises and those living in the North East the least positive………………………………………..Full Article: Source

Posted on 26 April 2012 by Laxman |  Email |Print

The government is pushing in two directions as it seeks to slow price growth while avoiding a collapse. It’s lowering borrowing costs for first-time homebuyers to encourage purchases while Premier Wen Jiabao keeps curbs in place to stem the speculators who have helped drive home prices up by as much as 140 percent since 1998.
China’s 18 percent first-quarter drop in home sales contributed to the slowest economic growth in almost three years………………………………………..Full Article: Source

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