News Alerts, Sept. 2, 2013, Morning Edition, 5 New Articles, Real Estate +, Don't Miss Them

Linking ≠ endorsement. Enjoy and share:

  1. Why Rising Mortgage Rates Matter for the US Recovery | BlackRock Blog | ETF Global market intelligence

    By Russ Koesterich, CFA. Tuesday, Aug. 27, 2013

    If steeply rising rates cause the housing market to roll over, the economy is likely to go with it. Housing drives new construction. And perhaps more importantly, recent higher home prices have been supporting consumer confidence and consumption. Even in the absence of disposable income growth, consumers have been more inclined to spend as their paper wealth has increased along with rising housing prices, a phenomenon known as "the wealth effect." Confidence and consumption could suffer, however, if housing prices decrease along with a housing market suffering from quickly rising rates.

    The good news is that I expect that interest rates, and mortgage rates by proxy, will continue to increase at only a modest pace. The Fed knows that the recovery is still tepid, and higher rates will slow it further.

    We agree that "The Fed knows that the recovery is still tepid, and higher rates will slow it further."

    Read the source article … http://www.blackrockblog.com/2013/08/27/ rising-mortgage-rates-matter-recovery/


  2. BBC News – Is the emerging market growth story over? BBC News - Is the emerging market growth story over?

    The perennial optimist:

    29 August 2013. By Linda Yueh, Chief business correspondent

    Economic growth in the past decade was supported by a commodity boom and a lot of US consumption that turned out to be based on cheap but ultimately unsustainable debt. As the so-called commodity super-cycle moderates and the US consumer buys at a more moderate level, growth will slow around the world.

    Not much taper-fear there.

    Read the source article … http://www.bbc.co.uk/news/business-23876 631


  3. Tucson's Multifamily Renaissance | TREND Report

    Up-beat news about Tucson's multi-family construction:

    Posted on Thu, Aug 22, 2013

    By Bob Kaplan

    While the amount of new construction may seem high, market indicators are strong and indicate that there is demand in place to absorb the new properties. The multifamily market has absorbed approximately 1,000 units each of the past four years and just experienced a rare positive absorption for the second quarter of 2013. With average occupancy for stabilized properties built since 2010 at 92.5%, with the local economy gaining momentum, and rising interest rates making home ownership less affordable, the future looks bright for new multifamily development in Tucson.

    Read the source article … http://blog.picor.com/bid/66787/Tucson-s -Multifamily-Renaissance-TREND-Report


  4. U.S. Images of Banking, Real Estate Making Comeback U.S. Images of Banking, Real Estate Making Comeback

    Better but still low:

    August 23, 2013

    by Jeffrey M. Jones

    PRINCETON, NJ — Americans' views of seven industries are substantially improved this year, based on increases of 10 points or more in the industries' net positive ratings. The banking, travel, and real estate industries show the greatest improvements. Healthcare is the only industry to see a decline of at least 10 points, although the retail, computer, and pharmaceutical industries were close to that threshold.

    The improvements in ratings of the real estate industry likely are due to the recovery of the housing market from the depths of the housing crisis. Now, about as many Americans view that industry positively as negatively, for the first time since 2007.

    Read the source article … http://www.gallup.com/poll/164093/images -banking-real-estate-making-comeback.asp x


  5. OCC Revises Guidance on Commercial Real Estate Lending | Katten Muchin Rosenman LLP – JDSupra

    8/28/2013

    by Jeffrey M. Werthan

    On August 20, the Office of the Comptroller of the Currency (OCC) issued the "Commercial Real Estate Lending" booklet of the Comptroller's Handbook to replace the OCC's "Commercial Real Estate and Construction Lending" booklet issued in 1995. The booklet also replaces sections 210, "Income Property Lending," and 213, "Construction Lending," of the former Office of Thrift Supervision's (OTS) Examination Handbook issued in 2009 and 1994, respectively.

    See: http://www.occ.treas.gov/news-issuances/ bulletins/2013/bulletin-2013-19.html

    Read the source article … http://www.jdsupra.com/legalnews/occ-rev ises-guidance-on-commercial-real-00631/


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