Salient to Investors: Mark Hanson at Hanson Advisers, who predicted the 2007 housing crash, said: Housing prices will decline 20 percent in housing prices in the next 12 months due to rising interest rates and less speculative private-equity buyers. Half of the gains since the bottom in 2011 could be
READ MORE... →Salient to Investors: MNS said 15,300 new rental units are under construction or planned in the next 2 years for Brooklyn, versus 1,700 planned condos. Developers see rentals as a safer bet in a market where rents are climbing faster than in Manhattan and neighborhoods such as Bushwick, Greenpoint and
READ MORE... →Salient to Investors: Miller Samuel and Douglas Elliman Real Estate said: Purchases of condos and co-ops in Manhattan rose 30 percent from a year earlier to the second-biggest quarterly total in 24 years of record keeping. The pool of homes on the market is 22 percent lower than a year
READ MORE... →Salient to Investors: Jeremy Grantham at GMO said: Commodity prices fell for a hundred years by an average of 70 percent, and then from 2002 basically everything tripled and regained the whole decline in 6 years – tobacco was the only commodity that fell. The game changed because of the
READ MORE... →Salient to Investors: The Bloomberg mall REIT index has fallen 5.4 percent in 2013, the worst performing part of US property stocks, on sluggish retail sales and limited opportunities to expand, after posting the biggest increases from 2009 through 2012. Hoteliers and self-storage landlords are the top-performing REIT sectors in 2013.
READ MORE... →Salient to Investors: Mohamad Nasir Ab. Latif at EPF, Malaysia’s largest pension fund, said they were net buyers of Malaysian stocks during recent declines as foreign investors cut their holdings, and are looking at real estate in Europe and the US to diversify risk. The fund also plans to raise
READ MORE... →Salient to Investors: Mortgage lenders are warning that the drop in demand for refinancing may be steeper than expected as surging interest rates crimp demand and cast doubt on how much the housing market will improve. Guy Cecala at Inside Mortgage Finance said yesterday’s Wells Fargo comments and Bank of
READ MORE... →Salient to Investors: Tim Sloan at Wells Fargo said rising mortgage rates won’t slow the housing recovery because new families are being created and homes are still affordable. Read the full article at http://www.bloomberg.com/news/2013-09-09/wells-fargo-says-rising-rates-won-t-snuff-out-housing-recovery.html Click here to receive free and immediate email alerts of the latest forecasts.
READ MORE... →Salient to Investors: For most Americans, the real estate crash is over and personal wealth is back where it was in the boom. For blacks, 18 years of economic progress has vanished, with a rebound in housing slipping further out of reach and the unemployment rate almost twice that of whites. Black homeownership fell
READ MORE... →Salient to Investors: Private-equity firms, hedge funds and REITs have bought more than 100,000 US homes, becoming dominant single-family landlords in markets hardest-hit by the housing crash such as Atlanta. Christopher Thornberg at Beacon Economics said investors that are building home-rental companies may not want to take on the red tape, stigma of
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