This is a great visualization from calculatedrisk blog. The commercial real estate market is tracking about 18 months behind residential. Commercial Property Price Index vs. Case Shiller. So what my question is: In order for the Residential Market to recover, we need jobs. The primary purpose of Commercial property is commerce aka Jobs. So which market will recover first? Residential or Commercial?? Thoughts?
Also another question comes to mind – had we not interfered with the residential market (government intervention) would the Case Shiller index bottomed out like the CPPI? Was it really worth it?
CPPI vs. Case Shiller (calculatedrisk blog)
This is for the Builders and Developers that read my posts, just some industry news…
EDINA, Minn. – Mattamy Homes has hired Lauren DeZellar as sales and marketing coordinator for its Minnesota division in the Twin Cities area.
In her new position, DeZellar will be responsible for promoting and marketing Mattamy’s Minnesota division, including assisting in the implementation of sales promotions and coordinating and organizing community sales events, said Steve Logan, vice president of Mattamy Homes in Minnesota.
The Banks Are Killing the Housing Market with Short Sale Policies.
Great post by John Murphy, a friend and fellow Realtor. This is problem that needs to be addressed to help the real estate market correct.
I recommend taking the time to read it.
If this doesn’t make a statement about the regulations these banks are under, I don’t know what does…
From the Wall Street Journal:
Main Street Bank lends most of its money to small businesses and is earning decent profits. But the Kingwood, Texas, bank is about to get out of the banking business.
In an extreme example of the frustration felt by many bankers as regulators toughen their oversight of the nation’s financial institutions, Main Street’s chairman, Thomas Depping, is expected to announce Wednesday that the 27-year-old bank will surrender its banking charter and sell its four branches to a nearby bank.
Mr. Depping plans to set up a new lender that will operate beyond the reach of banking regulators—and the deposit-insurance safety net. Backed by the private investment firm of Microsoft Corp. co-founder Paul Allen, the company won’t be able to call itself a bank, but it will be able to do business the way Mr. Depping wants.
“The regulatory environment makes it very difficult to do what we do,” says Mr. Depping, who last summer saw his bank hit with an enforcement order from the Federal Deposit Insurance Corp. READ MORE…
Image by stevelyon via Flickr
The rental market is going strong. Maybe worth considering purchasing rental properties…
Market rents for downtown Minneapolis apartments are up an average of 6.9 percent to $1,213 per month, from $1,135 at the same time last year, according to the report.
At the end of the second quarter, vacancy in the Downtown Minneapolis market declined to just 1.2 percent, down from from 6 percent a year ago…
In the Uptown neighborhood of Minneapolis, the vacancy rate is 1.9 percent.
Metrowide, the market posted a 2.4 percent vacancy rate, down from….read full story