Anna Spiewak
Economy Watch Weekly: No Deal on the Cliff, But It Isn’t the End of the World
CPE’s economic analyst, Dees Stribling, gives his update for the week ending Dec. 21.
Time for Change
In the wake of Hurricane Sandy, we are once again facing the fallout from what we haven’t done, what we haven’t learned, how we haven’t prepared—and how vulnerable we are when the unexpected occurs.
Insulation Innovation
New alternatives promise increased thermal performance in less space.
Economy Watch: Personal Income, Savings Up; Holiday Spending Slightly Up; Fiscal Cliff Worries Investors
Personal income increased month over month, as did personal saving in November. Holiday spending was only slightly up compared to last year. And investors are weary due to the fiscal cliff still hanging up in the air.
Stockholm’s Kista Galleria Shopping Center Sells for $700M
Citycon Oyj, a subsidiary of Gazit-Globe Group, and the Canada Pension Plan Investment Board (CPPIB) have entered into definitive agreements to acquire the Kista Galleria shopping center in Stockholm from DNB Livsforsikring ASA.
Economy Watch: Housing Starts Drop in November; AIA: Architectural Billings Up; Gov’t to Sell GM Stake
Both private housing starts and single-family housing starts are below the revised October estimate. Residential building permits are up, however. The American Institute of Architects reports that billings at architectural firms across the country are continuing to increase. And the U.S. Department of the Treasury plans to sell off the federal government’s remaining shares of General Motors Co., currently a 32 percent stake.
Will Fiscal Cliff Derail U.S. Equity REITs in 2013–All Signs Point to ‘No’
By Steven Marks, Head of U.S. REITs, Fitch Ratings: Vibrant capital markets and lukewarm property fundamentals augur for a continued stable outlook for U.S. equity REITs in 2013. One key area, however, that has potentially significant impact and bears close watch will be the looming fiscal cliff.
Ah-Ha!
By Robert Bach, National Director of Market Analytics, Newmark Grubb Knight Frank: The other day I was assembling a PowerPoint presentation, shuffling graphs and trying to build a story line that made sense, when all of a sudden I had one of those “ah-ha” moments when I put two graphs side by side.
Winds of Change for M-F REITs
By Anna Spiewak, News Editor: Tenant demand for multi-family units has been insatiable since the bursting of the single-family residential bubble, despite persistent macroeconomic headwinds. But according to a new report released last week by Fitch Ratings, what goes up does eventually have to come down—not only in physics but, apparently, in commercial real estate, as well.
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