Salient to Investors: Marc Faber at the Gloom Boom & Doom Report says: High-end assets from stocks to art to real estate are in a bubble caused by central bank money-printing. This money doesn’t increase economic activity and asset prices in concert, instead creates dangerous excesses in countries and asset
READ MORE... →Salient to Investors: Halsey Minor sold CNET Networks for $1.8 billion in 2008 and 5 years later has filed for personal bankruptcy thanks to bad bets on real estate, horse farms, start-up investing, and other ventures that took him out of his technology comfort zone. Read the full article at http://www.bloomberg.com/news/2013-05-30/cnet-founder-minor-files-for-bankruptcy-after-selling-art.html
READ MORE... →Salient to Investors: Jason Stewart, an analyst at Compass Point Research & Trading Interest rates moving higher and Fed talk about tapering QE much earlier than the market thought have sent mortgage REITs lower. Michael Widner at Keefe, Bruyette & Woods said the bond markets have over-reacted to Fed comments,
READ MORE... →Salient to Investors: Nationwide Building Society said UK house prices increased rose 1.1 percent from a year earlier, the most since November 2011. Robert Gardner at Nationwide said housing is gradually gaining momentum and the economy and credit policy provide reasons for optimism in the quarters ahead. Read the full article at http://www.bloomberg.com/news/2013-05-30/u-k-home-prices-rise-most-in-18-months-nationwide-says.html
READ MORE... →Salient to Investors: Soichiro Monji at Daiwa SB Investments said selling is feeding into more selling on underlying concern about the Fed’s early exit. Angus Gluskie at White Funds Management said it is difficult for the market to keep rallying as further moves from Japanese equities need to be fundamentally driven. Ng Soo Nam
READ MORE... →Salient to Investors: RealtyTrac said foreclosure sales fell 22 percent in Q1 from a year earlier as rising prices reduced the incentive to sell for owners underwater Daren Blomquist at RealtyTrac said rising prices take away the urgency from banks and homeowners from having to do a short sale. Blomquist said for metropolitan
READ MORE... →Salient to Investors: Hometrack said UK house prices rose 0.9 percent in London, the most in 6 years, primarily driven by a shortage of properties, while average prices in England and Wales increased 0.4 percent, the biggest monthly increase since May 2007. London demand is up 15 percent in the past 6 months, while supply
READ MORE... →Salient to Investors: Kevin Cummins at UBS Securities said we are moving in the right direction, and the data is consistent with an improvement in the labor market and income. The median selling price increased 14.9 percent in April from a year ago to a record $271,600, reflecting increases in sales of homes
READ MORE... →Salient to Investors: Miller Samuel and Douglas Elliman Real Estate say Manhattan apartment rents are within 2 percent of their all-time highs set in 2006, up 6.5 percent in April from a year earlier. Real Capital Analytics said investors are clamoring to capture the rising rates, more than doubling the volume of multifamily
READ MORE... →Salient to Investors: Zillow says: 22 million homeowners lack enough home equity to move, keeping property listings tight and limiting sales as the housing market recovers. Values have to climb further to ease the shortage. Over 13 million homeowners were underwater in Q1, or 25.4 percent of those with a mortgage.
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