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Slow Recovery Continues for Residential Real Estate
By Richard Parent, Gumbiner & Savett Inc.
According to the National Association of Realtors, home sale contracts signed in June 2010 were down 18.6 percent from June 2009, but up 10.4 percent in October 2010. Some of the decline can be attributed to the May 1 expiration of the first-time home buyer credit created by the Housing and Economic Recovery Act of 2008.
Multi-Family REIT Update: Predicting Fundamental Improvement, Stable Ratings
By Christopher Wimmer, Moody’s Investor Service
Induced by inexpensive capital and stronger property cash flows, multi-family REITs are expanding their development pipelines. Numerous macroeconomic, financial market and regulatory uncertainties remain, as well. Overall, we view events as strengthening multi-family REIT credit quality, although significant risks remain.
Navigating Closing Costs and the 1031 Tax Deferred Exchange
By James Brennan, Exchange Solutions Group L.L.C.
Often the assumption is made that closing costs will be subsidized by 1031 Exchange proceeds. However, while some of these costs certainly can be bankrolled by the tax deferred exchange, some cannot. Knowing how to avoid these expenses can keep your transaction out of hot water.
Fitch: U.S. CMBS Delinquencies Once Again on Rise
Nine of the 10 newly delinquent loans in excess of $50 million corresponded to office or retail properties, bringing into question whether these sectors are sufficiently stabilizing as the economy takes tentative steps toward improvement.
Gazing into the Crystal Ball: A Look Ahead to 2011
By Robert Bach, Grubb & Ellis Co.
Grubb & Ellis expects the dollar volume of transactions to increase another 75 percent to around $190 billion on top of the doubling seen in 2009. While these are impressive increases, they will return transaction volume close to the levels recorded in the 2003-2004 period, before the credit bubble began to inflate to uncontrollable proportions.
CPE TV: William Frey, Anthony Downs Discuss America’s Changing Population
Following their ULI Fall Meeting 2010 panel, Brookings Institution senior fellows William Frey and Anthony Downs talk with CPE TV about major changes looming for the U.S. population and how the country’s failure to adequately address them threatens our ability to remain competitive as a country during the coming decades.
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