Archive for real estate news
Good News Friday – Ranking the Cities
Posted by: | CommentsGreetings from New Mexico….
Check out Robert Bach’s latest post on city rankings. Where does your city rank….chances are…you can find it here…..cheers….rob
http://myemail.constantcontact.com/Ranking-Cities.html?soid=1102184413218&aid=h4SPz0bJUfE.
Manufacturers Rally – Bob Bach
Posted by: | CommentsGreetings!
Below is a post from Bob Bach……I hope you enjoy…..rob
Manufacturers Rally
Analysts shuddered two months ago when the monthly Business Outlook Survey from the Philadelphia Federal Reserve plummeted unexpectedly, signaling a worrisome slowdown for manufacturers in the region. Although it covers only a corner of the U.S. – eastern Pennsylvania, southern New Jersey and Delaware – the survey provides an early clue to the more widely followed manufacturing index from the Institute for Supply Management. The dismal August reading from the Philly Fed raised fears that the economy was sliding into recession.
But the manufacturing sector is expanding again according to the October survey, released yesterday. The survey asks manufacturers a list of questions with three possible answers – increase, decrease and no change – and calculates a diffusion index for each question, which is the difference between the percentage of respondents citing an increase and those citing a decrease. The index rose from minus 17.5 in September to 8.7 in October, the largest one-month gain since the early 1980s. The index measuring activity levels expected in six months increased to its highest reading since April before the economy began to slow. The survey doesn’t point to robust growth ahead, but it is consistent with Grubb & Ellis research showing sustained demand for industrial space over the past two quarters and this quarter as well. Together with other recent indicators such as retail sales and weekly jobless claims, the Philly Fed survey suggests that the economy is fighting off a near-term recession.
Have a great weekend.
Best regards,
BobRobert Bach
SVP, Chief Economist
Grubb & Ellis
312.698.6754
The Commercial Real Estate Blog Sphere – News And Articles #6
Posted by: | CommentsGreetings from somewhere….over the pacific ocean. Maui Mastermind is now but a great memory. Maui
Mastermind is one of few events that changed my life. It got me to think bigger…..and smarter (depends on who you ask.) My first Maui Mastermind was in 2003……which was the biggest paradigm shift for me…..well worth the price of admission. Now….some of the faces have changed….but the advisors (i.e., Bill Shopoff, David Finkel, Elizabeth Kana, Marc Owings, David Terry, and on and on) are better than ever.
Anyway…..
The bet of week is how many banks will close (FDIC takeover) this month….I say two more by the end of the month. What say you? I think that is a safe bet. I say we see two major banks close by the end of the year.
Bill Shopoff said (and I am paraphrasing and possibly misquoting) “Investors that need to refinance their assets in the next eighteen months will be in big trouble as credit will be harder to find. Investors will have to sell at deep discounts to get from underneath properties. Cash is king!”
So….here is the lastest and greatest from the commercial real estate blog sphere…..
Which way do the numbers point now
big, big bust in the real estate market. Van has been investing in real estate for years. He’s no Donald Trump, but he has made a nice living investing in houses, apartments and small commercial prope…
CMBS Issuance Plummets To ’96 Levels: Moody’s
The issuance of bonds backed by commercial real estate loans in the first half of this year has plummeted to levels not seen since 1996, according to Moody’s, which reported on Tuesday that issuance of commercial mortgage bonds has …
Arizona Lender Mortgages Ltd. Faces Securities Inquiry
Federal and state regulators have opened investigations into the dealings of Mortgages Ltd., Arizona’s biggest private commercial real-estate lender, and the firm called Radical Bunny that lent it almost $200 million. …
But the real bad news was embedded in the earnings release; their mortgage insurance group, which primarily writes “prime” PMI policies, has a 4.9% 60-day late rate at present, almost a double from a year ago. …
Credit crunch spreads in auto, CRE sectors
Just look at the news on the commercial real estate front that mega-brokers CB Richard Ellis Group and Jones Lang LaSalle released this week. Here’s an excerpt from a Bloomberg story, with my emphasis added: …
2008: Commercial Real Estate Financing tightens
Commercial real estate projects in Denver, Phoenix, New York and even Donnelly, Idaho, have run into similar snags, while developers in housing-bust markets like Florida and Southern California have axed smaller projects. …
Until next time….rob