News Alerts, Sept. 15, 2013, Evening Edition, #RealEstate +

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  1. 11 Ways to Finance Commercial Real Estate Energy Retrofits | CCIM Institute

    According to the U.S. Department of Energy, commercial buildings account for 35 percent of U.S. (and 40 percent of global) electricity consumption. Most commercial real estate professionals accept that energy efficient buildings can, and do, impact the value of the underlying asset. Notwithstanding this recognition, existing commercial buildings on average spend 30 percent of their budgets on operating costs and account for close to 20 percent of all global carbon emissions. While they understand the benefits, the challenge for most commercial real estate owners and operators is not whether to implement energy efficient retrofits, but rather how to pay for or finance such improvements. The following list is a basic primer of ways to finance these types of retrofits in commercial real estate space.

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  2. Statement from Research Topic: August Sector Unemployment Report [Maximus Advisors Employment Acceleration Index]

    The Maximus Advisors Employment Acceleration Index further underscored the weakness by sliding into negative territory. The index had slid from 8.7 in June to 3.2 last month [July], before falling to -19 this month [August]. The index measures the breadth of growth across the economy and its earlier slide warned of the subsequent weakness we are now seeing in the headline payroll figure.

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  3. FX carry trade losses worse than 2008 /Euromoney magazine

    Worse than 2008:

    The tapering-inspired exodus of capital from fixed income and equity markets has forced down emerging market currency yields, killing the high-yield trade and leading to a massive unwind of currency positions, according to currency traders on both sides of the Atlantic.

    Most of these players are now nursing substantial FX losses from a brutal summer, which has seen some of the key carry trade underpinnings massacred. Some managers say this year’s losses are worse than those suffered during the financial crisis.

    “The unwinds of the summer put the carry trade losses of 2008 into perspective,” says Robert Savage, chief strategist at FX Concepts, a currency-focused hedge fund. “The downside move has been ferocious and bigger than anything we saw during the financial crisis. Year-to-date, the 30 or so currencies that are used in the carry trade are down 33%.”

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  4. Why Housing Markets With Booming Prices Haven’t Fully Recovered – Forbes News Alerts, Sept. 15, 2013, Evening Edition, #RealEstate +

    Why are builders building less in markets where investors and other buyers are pushing up prices most? The key driver of this past year’s price rebound was the earlier price crash: markets with the biggest price drops during the bust tend to have the sharpest price gains today, in part because they’ve attracted investors and others looking to buy at low prices. Builders, however, don’t want to build where there are already bargain homes for sale. They’re betting instead on markets that had milder housing busts, less overbuilding during the boom, and therefore lower vacancy rates today. In short: investors have their eye on Las Vegas and Atlanta, but builders prefer Houston and Boston. Only when construction starts to approach normal levels will housing markets in price-boomtowns like Sacramento and Phoenix feel like they’re back on steady ground.

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  5. U.S birth rate falls to record low – Sep. 6, 2013 News Alerts, Sept. 15, 2013, Evening Edition, #RealEstate +

    The following obviously impacts future housing needs.

    Falling birth rates can be considered a challenge to future economic growth and the labor pool.

    “If there are fewer younger people in the United States, there may be a shortage of young workers to enter the labor force in 18 to 20 years,” said University of New Hampshire demographer Kenneth Johnson. “A downturn in the birth rate affects the whole economy.”

    It takes 2.1 children per woman for a given generation to replace itself, and U.S. births have been below replacement level since 2007.

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  6. This is Not Your Father’s Emerging Markets Crisis | The Financialist News Alerts, Sept. 15, 2013, Evening Edition, #RealEstate +

    It does seem like it’s déjà vu all over again. As emerging market governments burn through their foreign exchange reserves in an effort to support local currencies in the midst of massive capital outflows, the headlines are eerily reminiscent of the 1990s or early 2000s. Say, for example, in 1991, when India had to fly its entire gold reserve pile to London as collateral for a loan. Or in 2001, when a debt crisis, capital flight and a bank run forced Argentina to freeze domestic bank accounts and default on its international debt. But is today’s news just a replay of crises past? Not in the slightest, says Robert Parker, a senior adviser to Credit Suisse and a member of the bank’s Investment Committee.

    “Not in the slightest”?

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