Anna Spiewak
Sandy Hits CRE via Power Outages, Flooding
By Anna Spiewak, News Editor: Hurricane Sandy may have visited the tri-state area for only a span of one day, but the aftermath of damage cleanup will last for weeks, according to some.
Economy Watch: Job Creation Continues Steady Pace; Construction Spending Peaks; Car Sales Rise Annually, Dive Monthly
The Bureau of Labor Statistics, despite speculation involving hurricane-related delays, did indeed report the monthly employment numbers on Friday, as scheduled. Construction spending edged up month-to-month. Car sales were up annually, but down monthly, partially due to hurricane preparedness, some speculate.
FelCor Sells Two Hotels—Latest Step in Portfolio Restructuring
FelCor Lodging Trust has sold two hotels, the 370-room Embassy Suites – New Orleans-Convention Center and the 296-room Embassy Suites – Nashville-Airport, for an aggregate price of $70 million.
Economy Watch: Investors Return to the Trading Floor; Foreclosures Drop; Lending Standards Ease
Wall Street was back in business again on Wednesday, despite crippled infrastructure in the equities markets’ home town. CoreLogic reported on Wednesday that 57,000 foreclosures were completed in the U.S. in September 2012, down from 59,000 in August and 83,000 in September 2011. “A small fraction of domestic banks,” on net, reported easing standards for business lending and some categories of consumer lending over the past three months.
Economy Watch Weekly: Mediocre Economic Indicators This Week
CPE’s economic analyst, Dees Stribling, gives his update for the week ending Oct. 26.
CREW SPECIAL REPORT: M-F Industry Will Decelerate in 2013, Panelists Agree
The year 2012 will go down in the record books as a chart-popping year for the multi-family sector, but the exuberant levels of multi-family rent increases, transactional activity and equity investments are due for a slowdown over the next year, suggested speakers at the 2012 CREW Network Convention and Marketplace, held in Chicago.
Grosvenor Plans Second Condo in Popular Calgary Neighborhood
In Alberta, Canada, the Calgary condominium market is thriving and Grosvenor Americas, as evidenced by recent moves, has its finger on the pulse.
Economy Watch: Case-Shiller Indexes Up Again; Sandy’s Costs Already Estimated; Wall St. Reopens
The S&P/Case-Shiller indexes, which were released on Tuesday, showed continued upward movement in U.S. home prices. Sandy is still vexing parts of the Northeast with wind and rain, but it’s already time for preliminary damage estimates. Wall Street remained closed for a second day on Tuesday, but opened once again today.