Salient to Investors: JPMorgan Chase Private Bank put individuals and families with more than $5 million into a partnership that bought over 5,000 single family homes to rent in Florida, Arizona, Nevada and California. David Lyon at JPMorgan said investors can expect returns of up to 8 percent annually from rental income as well
READ MORE... →Salient to Investors: A plunge in US home listings to a 12-year low is driving up prices and many potential sellers are holding off until values rise more, while investors snatch up distressed properties before they reach the market. Builders can’t increase production fast enough. One home in Washington attracted 168
READ MORE... →Salient to Investors: Lou Basenese at The Wall Street Daily writes: At the very least, an uptick in demand is ahead for housing-related and automotive companies. Richard Fisher at the FRB Dallas says US GDP could grow 3% in 2013 versus the average economist expectation of 2%. Pickup truck sales
READ MORE... →Salient to Investors: Stuart Hoffman at PNC Financial Services said a little dip doesn’t take the momentum away, and for the first time in a while it’s as much a sellers’ market as a buyers’ market. Hoffman expects prices and sales to continue to rise in 2013. Lawrence Yun at NAR said the only concern
READ MORE... →Salient to Investors: Jonathan Gray at Blackstone said the market is moving much faster than anybody thought possible, and housing is much stronger than people anticipated. Blackstone is buying in Atlanta, Chicago, Las Vegas, Phoenix, Northern and Southern California; Miami, Orlando and Tampa, Florida, through foreclosure auctions and short sales. Anthony Paolone at JPMorgan said the home
READ MORE... →Salient to Investors: Lumber prices through Dec. 28 have risen 47 percent in 2012, heading for the biggest annual gain since 1993. Paul F. Jannke at Forest Economic Advisors expects lumber futures to tumble as much as 25 percent from a 7-yr high due to output increases in Canada. Scotiabank says lumber
READ MORE... →Salient to Investors: Neil Dutta at Renaissance Macro Research said the economy is holding up just fine with no feared year-end cataclysmic economic shock, and the steady housing recovery will continue. Dutta said we’re in the early stages of a positive feedback loop of cheap credit, tight inventory and rising prices. John Ryding at RDQ Economics
READ MORE... →Salient to Investors: Zillow expects home values to continue to rise in 2013. Low interest rates, improving employment and prices almost 30 percent below the July 2006 peak have attracted buyers and a limited inventory of homes for sale have pushed up prices. Stan Humphries at Zillow said housing has turned a corner in 2012, as historic affordability and
READ MORE... →Salient to Investors: The Census Bureau’s new projections show: The US population of just 399.8 million in 2050 versus 439.0 million projected in 2008. 90 percent of the US population in 1950 was white, versus 64 percent in 2010. (Beginning in 1980, whites are non-Hispanic white) Non-Hispanic whites will peak
READ MORE... →Salient to Investors: The National Association for Business Economics expects: The US economy to grow 2.1 percent in 2013 – 1.6 percent in Q4, 1.8 percent in Q1, 2.4 percent in Q2, 2.6 percent in Q3, and 3 percent in Q4. Unemployment will average 7.7 percent in 2013. Housing to again be
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