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Real Estate Briefing 08.Jun 2012

Posted on 08 June 2012 by Laxman |  Email |Print

For years, the housing market has been a wasteland of thwarted hopes and dreams. Countless times, both homeowners and investors in housing-related stocks have looked for a bottom in home prices, only to discover that the bear market in housing had further to run.
What’s bad news for current homeowners, however, has been great news for those looking to get into housing. Patient would-be buyers have been rewarded with more attractive prices and lower mortgage rates to boot………………………………………..Full Article: Source

Posted on 08 June 2012 by Laxman |  Email |Print

Sales rose more than 10 percent in April from a year earlier and may end the year up by as much as 13 percent, according to the National Association of Realtors.
Prices, which plunged by a third from 2006 according to some measures, are rising in some cities. Real estate agents report bidding wars, albeit more modest ones than during the bubble years, and buyers are snapping up homes much more quickly than only a few weeks ago………………………………………..Full Article: Source

Posted on 08 June 2012 by Laxman |  Email |Print

The small businesses that drive the housing market are reporting signs that the industry may be experiencing a real comeback.
At the beginning of the spring selling season, real estate agents and home builders were optimistic about the growing number of prospective buyers showing up at open houses and calling to inquire about listings. Now, it appears that interest has translated into sales………………………………………..Full Article: Source

Posted on 08 June 2012 by Laxman |  Email |Print

It’s time to stop sitting on the fence: Housing prices aren’t going to drop much, if at all. Unfazed by headlines reporting falling prices, a housing market freeze, price levels staunchly kept high by sellers in the used market, and even the prospect of renewed cost-of-living protests, one young couple has decided it’s time to buy.
“We were renting, and when prices dropped a bit our parents started nudging: ‘It’s a shame to put another NIS 4,000 down on rent each month when, for just a bit more, you can buy an apartment,’” relates Elad………………………………………..Full Article: Source

Posted on 08 June 2012 by Laxman |  Email |Print

Seizing upon growing demand and a dearth of new construction, apartment landlords nationwide have boosted rents over the last two years and expect to keep raising them for the foreseeable future.
The improving fundamentals have placed multifamily properties well ahead in occupancy and rent growth vs. other commercial real estate sectors, which in many cases are experiencing anemic growth………………………………………..Full Article: Source

Posted on 08 June 2012 by Laxman |  Email |Print

The real-estate investment trust sector has suffered a significant loss of momentum. The correction appears to have been driven by the broader market, as opposed to something specific to the REIT sector.
Nevertheless, there appears to be additional downside risk for the DJ Real Estate iShares because they penetrated support near $60 at the same time the weekly moving average convergence/divergence (MACD) indicator flipped to a “sell” signal………………………………………..Full Article: Source

Posted on 08 June 2012 by Laxman |  Email |Print

Federal officials are broadening their investigations of mortgage lenders that use a popular federally backed mortgage program, a move that could force more banks to pick up some of the rising tab for losses at the Federal Housing Administration.
U.S. attorneys already have reached settlements with four banks, Bank of America Corp., Deutsche Bank AG, Citigroup Inc.and Flagstar Bancorp Inc., recouping $1 billion for the FHA………………………………………..Full Article: Source

Posted on 08 June 2012 by Laxman |  Email |Print

For decades, when this medieval town wanted to borrow for a building project, officials just needed to walk into one of the many banks between city hall and the nearby 13th-century cathedral.
This year, they have had to look farther afield. Unable to raise the money to keep city construction projects on track, Mayor Jean-Pierre Gorges has dispatched aides to Beijing in hopes of negotiating a loan from China Development Bank………………………………………..Full Article: Source

Posted on 08 June 2012 by Laxman |  Email |Print

House prices inched ahead in the UK last month but are unlikely to show much change for the rest of the year, Halifax said.
Other commentators warned the market could halt this summer. Prices rose by 0.5 per cent month on month across the UK in May, following a 2.3 per cent monthly fall in April, to reach £160,941 on average, the bank said………………………………………..Full Article: Source

Posted on 08 June 2012 by Laxman |  Email |Print

House prices fell by 2.4pc in April, according to Halifax, Britain’s biggest mortgage lender, meaning many homes lost more than £3,000 of value – or more than owners on national average earnings got paid that month.
But Britain’s homeowners retain more than £5.6 trillion – or £5,600bn – wealth in bricks and mortar, with £1 trillion of that treasure in London alone and another £1.6 trillion elsewhere in the south east, , according to Britain’s biggest online estate agents PrimeLocation.com………………………………………..Full Article: Source

Posted on 08 June 2012 by Laxman |  Email |Print

One solution to Spain’s real estate market implosion that has laid low the economy and crippled many of its banks may lie in using the equities market, and particularly the efficient REIT investment vehicle, to recapitalize the sector, as the US did in its similar Savings & Loan crisis in the 1990s, an ASIPA (Association of Spanish Rental Property Companies) conference in Madrid heard on Thursday.
Philip Charls, Chief Executive of the European Public Real Estate Association (EPRA) said: “REITs helped to solve the 1990s Savings & Loans banking crisis in the United States as property companies went public to access fresh capital and de-leverage the US real estate industry………………………………………..Full Article: Source

Posted on 08 June 2012 by Laxman |  Email |Print

Property sales in Cyprus increased in May with the number of contracts deposited at Land Registries reaching their highest level since June 2010, raising expectations that a recovery may be underway.
Following a period of decline lasting nearly two years, property sales in Cyprus during May staged a surprising recovery, although the reason for this is unclear………………………………………..Full Article: Source

Posted on 08 June 2012 by Laxman |  Email |Print

Rents of residential apartments increased over 100 percent in some Jeddah districts in the past two years, an official of the Jeddah Chamber of Commerce and Industry ( JCCI ) has said.
According to Abdullah Ahmari of the real estate committee at the JCCI , many apartments have been sublet for rentals. He says there is a need to work out solutions that are fair to the landlord and the tenant………………………………………..Full Article: Source

Posted on 08 June 2012 by Laxman |  Email |Print

Over the last year, there has been an unequivocal crystallization of Indian cities that continue to attract serious investment into real estate. This is directly correlated to the economic dynamics now working in the country.
If India is to achieve even a conservative GDP growth of 6% per year, it emerges that only three cities - Mumbai, Delhi and Bangalore - have the potential to deliver. The reason for this is that close to 2/3rd of the overall development of office space in the country is now taking place in Mumbai, Delhi and Bangalore………………………………………..Full Article: Source

Posted on 08 June 2012 by Laxman |  Email |Print

In the minds of Mumbai residents, whether they sleep on streets or silk sheets, property developers loom large. In films and novels, skyscraper-erecting baddies bring wealth and renewal—and often misery and violence. Yet in reality, buildings do not loom as large as you might think in Mumbai.
Take the view from one of the towers clustered in midtown, owned by Abhisheck Lodha, a razor-sharp American-educated tycoon making billion-dollar bets on transforming the city. The odd skyscraper erupts out of low-rise clutter……………………………………….Full Article: Source

Posted on 08 June 2012 by Laxman |  Email |Print

In the international economic bodybuilding contest, Australia’s muscle-bound economy wears the medal. Of all the washboard-stomached warriors of ancient Greece, Australia is Achilles, the most handsome and fearsome of all.
Australia’s subdued property market is the missing link between strong growth figures and low consumer confidence. Housing is the reason Australian households have been limping around like wounded deer, despite our rock-solid mining abs of steel. Housing is our Achilles heel………………………………………..Full Article: Source

Posted on 08 June 2012 by Laxman |  Email |Print

Sydney is Australia’s most populous city and its housing sector offers investors unique opportunities with the security that comes with investing in a large and rapidly expanding market.
Property prices in Sydney have increased 25 per cent in the last four years, during which many other housing markets around the world have stagnated or even gone backwards………………………………………..Full Article: Source

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