Salient to Investors: In a Bloomberg global poll of investors: 75% expect a short-term agreement to avert the fiscal cliff, 6% expect to go over the cliff and into a recession. 40% expect financial markets to rise after a short-term tax-and-spending deal, 28% see no significant market reaction, 26% say markets would fall. 7% see no sweeping accord, 50%
READ MORE... →Salient to Investors: Asian investors are the biggest buyers of office property in the City of London in 2012. A weak pound, safe haven reputation, and returns that beat financing costs makes London the world’s most attractive city for foreign property investment. Development is slower than demand, prices are 25 percent below 2007
READ MORE... →Salient to Investors: Home prices rose in the year ended in September by the most since July 2010 and in Q3 2012 by the most since Q2 2010. 18 of the 20 cities in the S&P/Case-Shiller Index showed a year-over-year gains, led by Phoenix. New York and Chicago posted the two decreases in
READ MORE... →Salient to Investors: Investors reacting to government curbs on home buying are shifting money into parking spaces. The average price of a previously owned parking spot in residential complexes rose in Q3 to the second highest on record. Hong Kong has one of the lowest car ownership rates among developed countries,
READ MORE... →Salient to Investors: Moody’s forecast home equity lines of credit will rise 30 percent in 2012 to the highest level since the start of the financial crisis in 2008, and rise another 31 percent in 2013. Mustafa Akcay at Moody’s Analytics said lending will keep rising if house prices continue to rise. The Mortgage Bankers Association forecast
READ MORE... →Salient to Investors: London rents have risen more than 6 percent in the past year to a record despite employment in the financial-services industry at a 20-year low. Lender restricting mortgages to all but the most creditworthy customers has encouraged individual investors and companies to enter the rental market as central
READ MORE... →Salient to Investors: Miami’s roller coaster real estate market is booming again. Condo Vultures said the average rent for a 2-bedroom apartment increased 6 percent to $2,568 a month in Q3 versus a year ago. Peter Zalewski at Condo Vultures said any developer building near the water in Florida is likely building rentals for the
READ MORE... →Salient to Investors: Rightmove said London asking prices in London’s 9 most expensive districts increased 3.4 percent in November versus a fall of 2.6 percent nationally. Miles Shipside at Rightmove said the prime central London property market continues to attract wealthy foreign buyers, especially the City of Westminster, where a Mayfair or Belgravia address is a
READ MORE... →Salient to Investors: Purchases of existing houses in October exceeded the median economic forecast, property values rose over the past 12 months by the most in seven years, and inventories dropped to the lowest level in almost a decade. Ward McCarthy at Jefferies said housing is cheap, borrowing is cheap, and it’s a
READ MORE... →Salient to Investors: S&P/Case-Shiller said home prices in 20 large metropolitan areas gained 8.8 percent from February through August. The share of all non-agency loans between 30 and 60 days past due rose 0.44 percentage point to 3.54 percent, the highest since February 2010. JP Morgan said: A record number
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