Sunday, November 15, 2009

Weekly Rewind / November 9-13

  • Houston moves from 16th to 5th on Milken’s best performing city list.
  • China is very close to restricting debt on property purchases.
  • Houston’s commercial real estate sales down 84% from this time last year.  Is this a buying signal or is there more room to run?
  • Two Japanese banks are merging to create the country’s fifth largest bank.
  • Recession’s impact on the Houston office market.
  • The NAIC has approved a plan to develop a new credit rating model.
  • Green Building projects expected to skyrocket.  8 million jobs within 4 years-per projections.
  • According to the Fed, banks are continuing the practice of extending and pretending.
  • Bargain buys are reducing rental rates on the east and west coast.
  • Is Singapore about to make the same mistakes the rest of the world made in regards to a real estate bubble?
  • Net investment chart of commercial real estate (2001-Current).  This shoe has already dropped.
  • On a separate note, REITs helped surge the stock market to its 52 week highs earlier in the week.
  • Alvin TX’s north side is to get a $50 million Christus Health Hospital.
  • Believe it or not: Commercial mortgage restructuring guidelines are getting results.
  • HBJ reports Houston consumer spending slowing.  But optimism abounds.
  • Of the 386 housing permits (projected new homes) in Sugar Land, 369 are from the Telfair Development.
  • Chase is hiring 1200 mortgage loan officers to increase its capacity by 60% by the end of 2010.
  • Tough couple weeks for the small business lender.
  • Peak Demand or Peak Consumption?  Read the Oil Drum’s take.
  • This just in: Banks are actually having success selling their toxic assets.
  • Houston home sales up 10% from last quarter.  Median remains $160,000.
  • Retail might be hurting, but its getting a big boost from institutional investors.
  • Marq*E Center on I-10 & Silber to undergo a renovation to make it more retail friendly.  Interesting note: the Fed Reserve was involved.
  • The Tenants Rights Act is adding liabilities from landlords.
  • Texas’ electricity rates: Largest increase in prices over last 8 years…anywhere in the US.
  • Sam Zell: Pending doom for CRE is a myth.
  • Texas Employers can expect a tax hit for the jobless.
  • No CRE to buy? Try looking north of the border, eh?
  • Commercial Real Estate lending still tight.  Demand up, Supply Down since July.
  • Britan’s Lloyd’s is scrambling to recover $1.1 billion after the collapse of Kenmore Property Group.
  • Houston Downtown Tower purchased.  Aaaahh, some good news.
  • Myspace.com losing $1 million a month due to office vacancy.

~Llenrock & Lowery Blogs

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