Real Estate News

Fed Frets About Commercial Real Estate
With Banks Slow to Take Losses, Fears of a Residential-Bust Repeat; 'More Pain Likely Lies Ahead'
By Lingling Wei and Maurice Tamman
The Wall Street Journal
October 7, 2009

Banks in the U.S. "are slow" to take losses on their commercial real-estate loans being battered by slumping property values and rental payments, according to a Federal Reserve presentation to banking regulators last month.

Apartment Glut Expands
Vacancy Rate Rises to 7.8% as Unemployment Dents Demand; Monthly Rents Slip
By Nick Timiraos
The Wall Street Journal
October 6, 2009

Apartment vacancies hit their highest point since 1986, surging in cities from Raleigh, N.C., to Tacoma, Wash., as rising unemployment continued to chip away at demand during the traditionally strong summer rental months.

Signs advertise apartments for rent in San Francisco in July. Rents declined during the third quarter, usually a strong period for rentals.

Vegas Casinos Fold on Expansion Plans
By Alexandra Berzon
The Wall Street Journal
October 5, 2009

After a six-year building frenzy that transformed this city, casino companies are shifting strategies dramatically toward slower growth, paying down debt and cutting back on spending.

Many casino executives don't expect to break ground on another major building project in Las Vegas for at least 10 years.

"The old model has been thrown out the window," says MGM Mirage Chief Executive Jim Murren.

Retirement Chain Seeks Fresh Cash Infusion
By Anton Troianovski
The Wall Street Journal
October 5, 2009

One of the biggest developers of comprehensive retirement communities in the U.S. is seeking much-needed new capital.

The company, Erickson Retirement Communities, is struggling both with a heavy debt load taken on during its boom-time expansion and increasing numbers of retirees who can no longer afford to move into its facilities.

Home Builders Curtail Freebies
Incentives to Attract Buyers Shrink as New-Home Inventory Declines
By Dawn Wotapka
The Wall Street Journal
October 5, 2099

Home builders are scaling back on the incentives offered to attract buyers, putting an end to such freebies as sports cars and tropical vacations.

With new-home inventory falling as home sales in many markets pick up, builders say they no longer need to offer eye-popping inducements to move homes.

The Next Youth-Magnet Cities
By Sue Shellenbarger
The Wall Street Journal
September 30, 2009

If you were a recent college graduate in a recovering economy launching a career, looking for a mate or both, where would you choose to live?

Housing Recovery Obstacle: So Many Houses
By Mark Gongloff
The Wall Street Journal
September 24, 2009

Investors expecting an upbeat chapter for housing should brace for a plot twist.

Two key pieces of housing data arrive this week, starting with August home resales, due Thursday from the National Association of Realtors. Economists think existing homes sold at an annualized rate of 5.39 million units last month, up 9% from a year earlier.

Forecast predicts commercial values to get even worse
By Eddie Baeb
Crain's Chicago Business
September 21, 2009

After plummeting over the past year, commercial real estate values in the Chicago area are poised to fall further and remain mired at recessionary lows for a couple more years, according to a new forecast.

Downtown Chicago beating: Office vacancy rises
By Eddie Baeb
Crain's Chicago Business
September 28, 2009

A blistering year for downtown office building landlords went from bad to abysmal in the third quarter, as the vacancy rate jumped to almost 15%, the highest in three years.

The upside of Florida real estate: 15 market positives By Florida Association of Realtors
The Orlando Sentinel

Let's take a look at some of the opportunities and positive indicators for the future of Florida's real estate market.