D.C. Stribling
Economy Watch: Pending Home Sales, Durable Goods Orders Rise but Manufacturing Drops
The NAR’s Pending Home Sales Index rose 5.9 percent to 101.1 in May, while U.S. durable goods orders went up 1.1 percent. But the Midwest manufacturing output decreased 1 percent.
U.S. Remains Most Transparent Market as Openness Advances Globally: Jones Lang LaSalle
Nearly 90 percent of the world’s markets have improved transparency since the last survey in 2010. This year Jones Lang LaSalle is also introducing a new index for transparency in sustainability.
Economy Watch: Home Prices Rise, but Consumer Confidence Slips
The latest S&P/Case-Shiller Home Price Indices showed that home prices increased 1.3 percent in April for both the 10- and 20-City Composites; the Consumer Confidence Index slipped for the second month in a row.
Economy Watch: New Home Sales Spike; Chicago Fed Reports May Slowdown
Last month, new home sales rose 19.8 percent year-over-year; a key Chicago Fed index confirms that economic growth slipped from barely above historical rates in May to below average.
Economy Watch: Spain Set to Ask for Bailout; L-T Unemployment Down; Stimulus Debated
Spain might request as much as 100 billion euros ($125 billion) in financial assistance. U.S. long-term unemployment saw a drop, while Lacker dissented on the Twist.
Brookfield Acquires Major London Office Portfolio for $829M
Brookfield Office Properties Inc. has made a major move into Central London as an office property owner with the purchase of interests in buildings totaling 884,000 square feet for $829 million (£518 million) from British property giant Hammerson, its first major foray into Europe.
Economy Watch: Housing Starts, Job Openings Edge Down
U.S. housing starts fell 4.8 percent in May, while job openings dropped in April. However, housing starts were higher than at the same time last year, while job openings were higher than when the recession ended in June 2009. Meanwhile, the rich really are getting richer, as the number of millionaires increases worldwide–and particularly in Asia.
Economy Watch: Housing Starts, Job Openings Edge Down
U.S. housing starts fell 4.8 percent in May, while job openings dropped in April. However, housing starts were higher than at the same time last year, while job openings were higher than when the recession ended in June 2009. Meanwhile, the rich really are getting richer, as the number of millionaires increases worldwide–and particularly in Asia.
Economy Watch: Pro-Bailout Victory in Greece; Rise in U.S. Foreign Investment, but Consumer Sentiment Down
Polls closed in Greece at noon Eastern time on Sunday, and preliminary results indicated that the pro-bailout New Democracy party won about 30 percent of the seats in the Greek parliament. Meanwhile, the Commerce Department reported a further increase in foreign investment in the United States. And consumer sentiment reached a low for the year.
Economy Watch: Public Spending Dents GDP; Apartment Market Improves; Consumer Sentiment Gains
Overall growth for the U.S. economy was middling during the first quarter, with expansion coming in at a 2.2 percent annualized rate, while the National Multi Housing Council reported last week in its Quarterly Survey of Apartment Market Conditions that things are still improving for the apartment industry. U.S. consumer sentiment was up a bit in April, to the highest level in a year.