The List: 16.04.09
The U.S.
CRE problems are beginning to frustrate the San Francisco market (San Francisco Chronicle)
Housing starts fell 10.8% in March (WSJ)
General Growth Properties declared bankruptcy, making it one of the largest real estate failures; malls are seriously bad investments (WSJ)
RevPAR is off 28.1% and occupancy down 17.9% in the hospitality sector (Calculated Risk)
While the bad news continues, homebuilders’ sentiment rose (Reuters)
Several REITs receive upgrades (WSJ)
But more REITs are diluting their equity investors (Zero Hedge)
Trump is still telling you to buy real estate (CNN)
Realtors are getting desperate: some will even insure your mortgage for six months (Baltimore Sun)
Commercial real estate weighed down Goldman Sachs in December (by the way, Goldman include December losses in its quarterly earnings report, one of those accounting gimmicks that helps explain how they managed to turn such a huge profit in Q1) (WSJ)
Foreclosures rose 503% in Hawaii and 563% in North Dakota (note that this is one of those data points that is easily manipulated by news groups because of the small basis for comparison) (Honolulu Advertiser)
Never anger a notary: they can sell your house without you even knowing (AP)
More pension funds are using real estate as collateral in lieu of making payments; the conservative in me believes this is probably a horrible idea (Global Pensions)
Sam Zell calls the bottom in residential housing; not so optimistic about commercial real estate (Daily Finance)
” If it was an easy call to make, everybody would be doing it.” Talking about the bottom and real estate investing (Real Property Alpha)
Foreclosures are hitting record highs–not so good as a forward looking indicator (Big Picture)
The World
A collection of minor Asian news headlines (Trading Markets)
Real estate investment still seems strong in Indian cities (India Infoline)
Vietnam approved the master plans for urban areas (NuWire)
Fitch sees further deterioration in the Korean economy (Korean Times)
Croatian real estate declines are causing negative outlooks for Croatian banks (Financial Mirror)
China’s growth is slowing at an unexpected rates (Crikey)
China’s real estate prices fell (Anhui News)
The Saudi’s are pulling out of international real estate (this is a trend that is likely to continue as they realign portfolios and prepare for the next round of real estate investment) (Times Online)
Europe’s industrial production collapsed in February (Econompic Data)
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