News Alerts. Oct. 22, 2013. Afternoon Edition. #RealEstate

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  1. NYC Home Flipping | New York Home Flips

    … experts say that today’s flipping isn’t the same as the rampant, and often reckless, turnovers that characterized the pre-recession housing boom. Today tight-fisted lending makes it difficult to buy on speculation, and many home flippers are paying all-cash for their investments.

    Source … https://therealdeal.com/blog/2013/10/20/ nyc-sees-marked-increase-in-home-flips/


  2. Over-55 developments can squeeze families looking for housing – Worcester Telegram & Gazette – telegram.com

    This spring, developer Jim Williamson came up with a surefire way to calm some residents’ concerns about a proposed 174-unit housing complex in Walpole — discourage families with children from moving in.

    Williamson told town officials that his project would include only one- and two-bedroom homes, not the three-bedroom units that are more suited for families with school-age children. His reason was simple: additional children can strain the resources of schools and increase operational costs, something town officials had made clear they were concerned about.

    “We are trying to do the right thing for the town,” said Williamson, a spokesman for the Framingham-based company Barberry Homes. “One way to minimize impacts is try not to have too many school-age children.”

    Several university studies — including one by Tufts University and another by the University of Massachusetts Boston’s Donahue Institute, a university think tank — have disputed the assumption that family-friendly housing drives up school costs.

    Francese said the long-term bias against families instead is slowly hurting communities that are shutting out a young workforce, forcing families to seek states more hospitable to them. …

    Senior housing has its place, but it appears some areas of the country may be overdoing it, way overdoing it.

    Source … https://www.telegram.com/article/2013102 1/NEWS/310219926/1116


  3. Smog closes schools, highways in NE China – Xinhua | English.news.cn

    HARBIN, Oct. 21 (Xinhua) — A heavy smog shrouded northeast China’s Harbin city on Monday for the second straight day, forcing the closure of schools and highways.

    The density of PM 2.5 — airborne particles measuring less than 2.5 microns in diameter, exceeded 500 micrograms per cubic meter on Monday morning, leading a visibility of less than 50 meters, in downtown Harbin, the capital of Heilongjiang Province.

    Would you want to buy real estate there before China cleans up its air-pollution problem?

    The negative health effects must be horrendous. It makes us want to cough just thinking about it.

    Source … https://news.xinhuanet.com/english/china  /2013-10/21/c_132815836.htm


  4. Asia’s commercial property deals set for record year

    The audio is a bit poor.

    “The markets are a little more disciplined than they were in 2007,” Crow [Stuart Crow, head of Asia-Pacific capital markets, Jones Lang LaSalle] told CNBC. “There is a lot more equity in the system now than there was back in 2007, when leverage was being used a lot more. The market generally is more insulated.”

    “The majority is looking for yield-based investments, rather than speculative ones,” he said.

    Source … https://www.cnbc.com/id/101127301


  5. Fed could up QE to $1 trillion a month: Marc Faber

    “We are the bubble,” says Marc Faber.

    If unemployment doesn’t drop, wages don’t improve, interest rates don’t remain low, and inflation stays stubbornly low, then he certainly has a point.

    Source … https://www.cnbc.com/id/101127962

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