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Archive for the Real Estate Category

Wall Street’s Latest Bounce – Ostrich Economics At Work – David Stockman’s Contra Corner 10-20-15

Salient to Investors: David Stockman writes: The price of financial assets is now artificial and wildly inaccurate. $300 trillion of global finance cannot remain stable much longer. Bulls believe the Fed is on hold until at least next March, while Wall Street is projecting S&P 500 earnings of $130 per share on an ex-items basis for

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The zero rate trap – The Economist 09-18-15

Salient to Investors: No Fed tightening was a sensible decision. The Fed is in a trap: low interest rates have raised global equity markets, whose collapse in August helped in preventing the Fed from raising rates. Most British homeowners have variable rate mortgages so while interest rate cuts staved off a potential

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Taxed Out of Mansions, London Investors Head Down-Market – BloombergBusiness 08-06-15

Salient to Investors: Even the wealthiest property investors are fleeing London’s best districts due to higher sales taxes of up to 12% on the amount above £1.5 million. Camilla Dell at Black Brick Property Solutions said clients are spending an average of £2 million less on each transaction this year and are

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Urgent Warning: 6 Signs the Great Crash Is Upon Us! – David Stockman’s Contra Corner -7-16-15

Salient to Investors: Harry Dent writes: All the signs point to the end of the global bubble. The greatest trigger will be the bursting of the massive, unprecedented China bubble. China’s stock market loss of 35% in less than 30 days signals its stock bubble has peaked: a drop of 30% to 40%

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Sales of U.S. Existing Homes Rise to One-Year High – Bloomberg 10-21-14

Salient to Investors: Cash transactions accounted for 24% versus 33% a year ago. Investors, 63% of whom paid cash, were 14% of the market last month versus 19% in September 2013. Foreclosures and short sales were 10% of the total. First-time buyers accounted for 29% versus the historical average of 40%. The average

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Malls Offer Discount That’s Not for Customers: Real M&A – Bloomberg 10-01-14

Salient to Investors: DJ Busch at Green Street Advisors said the Washington Prime/Glimcher Realty Trust deal may spark further consolidation among owners of “B” malls as there are many benefits to scale. Jerry Bruni at J.V. Bruni said lower-tier malls are a better bargain than pricey luxury properties, and owning the

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Beyond Angkor: How lasers revealed a lost city – BBC News 09-22-14

Salient to Investors: The lost medieval city of Angkor in Cambodia once covered 1,000 sq km – only equalled by London some 700 years later – and contained nearly a million people and the world’s biggest religious complex covering area 4 times larger than Vatican City. The end of the

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China Home Price Drop Spreads as Housing Demand Weakens – Bloomberg 09-18-14

Salient to Investors: Centaline said a wait-and-see attitude is still prevalent among homebuyers Donald Yu at Guotai Junan Securities said there is still room for prices to go down further as the policy easing only increased the number of people qualified to buy, not the number of those able to as mortgages remain

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James Says Use Buyouts to Shoot Lights, Not Hedge Funds – Bloomberg 09-18-14

Salient to Investors: Tony James at Blackstone said hedge funds are a way to play the stock market with lower volatility and lower returns – shoot-the-lights-out returns are best left to private equity and real estate. Neil Chriss at Hutchin Hill Capital said Calpers’ hedge-fund allocation was not big enough to

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China May Soon Go the Way of Japan, Says Merrill Lynch – BloombergBusinessweek 09-10-14

Salient to Investors: Naoki Kamiyama and David Cui at Merrill Lynch said: China is weaker than it appears, resembles Japan in 1992, and may enter an asset-deflation phase. China’s imbalanced growth, government stimulus, overcapacity, overwrought housing market, and severely under-capitalized financial system may be a more serious problem than Japan’s was in the

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