The List: 13.05.09
The U.S.
Greenspan calls the bottom (again) (The Big Picture)
AIG is worried about CRE (surprise) (WSJ)
MITs CRE index is continuing to fall (MIT)
A bottom in the single family market? (no) (Cleveland Fed)
Foreclosures were up 32% in March y-o-y (Yahoo)
Redfish Emerging Markets concedes that CRE is in trouble (these people understand that real estate is local, but they’re also able to find sunlight in five-mile mineshafts; that even they acknowledge CRE is getting the bad press it deserves is either a) a contrarian indicator or b) evidence that things are pretty bad out there) (Redfish Emerging Markets)
Malls continue to be bad investments (investors of retail space need to understand that the current shift in consumer habits is going to be massive, is going to take time, and is going to have very significant long-term implications for how Americans spend; here’s a Futronomics post with graphs that document the fundamental shifts in consumer habits) (WSJ)
Freddie says borrower behavior is changing (i.e., borrowers are just walking away) (Calculated Risk)
Median home prices fell in 88% of cities (AP)
The World
Deglobalization (via Economist’s View) (The Korea Times)
Japanese exports to China are greater than those to the U.S. (EconomPic Data)
Record losses for Land Securities in the U.K. (Bloomberg)
Credit in India seems to be loosening (Business Standard)
Recovery in Moscow (at least according to RE companies) (The Moscow Times)
Speculators are back out in force in much of Korea (JoongAng Daily)
Real estate volume fell 32% y-o-y in Jordan (Jordan Times)
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