Last Blog Search
Categories
Best Blogers
Archives
Last Comments:
Statistics:
- 7 users online
- 42 maximum concurrent
- 188085 total visitors
Meta:
|
 January 31st, 2007 by  babygirl
Brokers in the Great White North are seeing an awful lot of green these days, and we’re not talking about what’s hidden under melting snow.
Though the country is a latecomer to the multimillion-dollar housing market, and property remains relatively inexpensive when compared with cities like London, New York and San Francisco, Canada’s real estate market is on the rise. And while the American dollar might buy you a slightly larger McMansion there than in the U.S., the asking prices are no bargain.
“The housing market has been robust and is related to the overall good health of the economy,” says Phil Soper, the president and CEO of Royal LePage Real Estate Services–one of the country’s largest brokerages–referring to low unemployment, strong consumer confidence and modest interest rates. “In particular, there is a lot of wealth in the Baby Boomer demographic, which drives a lot of the high-end transactions and pushes up the values of luxury homes.” Read more
Post this to:
Posted in Mortgage Rates, Interest Rates, Real Estate in Canada, Housing market |  No Comments »
January 31st, 2007 by babygirl
Nearly half of all Americans believe the housing market is poised to go from bad to worse over the next few years, according to a new survey, despite assurances from many real estate forecasters that the market has hit bottom.
The glum outlook, reported in the Gallup-Experian Personal Credit Index, says 47% of consumers surveyed at the end of the year believe that the housing bubble is bursting and that real estate prices in their area will likely collapse over the next three years. Though 51% don’t expect a collapse, the pessimistic crowd has increased from 42% in April 2006 and 37% the year before.
“The housing market has been in a downturn for some time now,” says Dennis Jacobe, Gallup’s chief economist. “People are seeing more for-sale signs out there longer . . . and people are taking their houses off the market. As people talk to each other, the negative psychology builds.”
The bottom line, Jacobe says, is a lot of people don’t believe the housing market is headed for a so-called soft landing despite the predictions of some real estate experts and Wall Street prognosticators. Read more
Post this to:
Posted in Property prices, Housing market | No Comments »
January 31st, 2007 by babygirl
Chicago shot to the top of the list of the hottest US office property markets last year as investors flocked from the east and west coasts towards cheaper prices in the windy city.The amount of office property changing hands in downtown Chicago soared to more than 26m square feet last year, nearly tripling from the year before, and shooting past midtown Manhattan’s property market, according to data from Cushman and Wakefield, the property services company.
Midtown was the second most active office property market in the US last year, with nearly 21m sq ft sold last year, up nearly 9m from 2005.
Sales in Chicago were driven by a number of large office buildings coming onto the market. In 2006, 9 buildings costing more than $200m were sold, compared to 5 the year before.
Chicago, as well as cities like Dallas and Atlanta, benefited as competition for sales in gateway cities such as LA, San Francisco and New York drove office property prices to their highest ever level this year, pushing investors to seek value in second tier cities, said Janice Stanton, senior managing director at Cushman Wakefield. Read more
Post this to:
Posted in Real Estate in USA, Building, construction, remodeling and technology, Analytics, Market Conditions | No Comments »
January 31st, 2007 by babygirl
Boynton Beach· By 2025, the city will need 10,800 affordable homes, according to a study by Florida International University’s Metropolitan Center.
Today there are only 50 in Boynton Beach, and the gap between wages and the cost of real estate, despite the market’s downturn, is still too wide for many to afford a home.
Officials today will discuss a proposed ordinance aimed at creating affordable housing by allowing developers to build more units per acre, if they offer some at prices families can afford. Now, The Preserve, a 180-townhouse and condo project developed by Coral Gables-based Cornerstone Group, is the only project offering affordable housing. Read more
Post this to:
Posted in Housing, Real Estate in USA | No Comments »
« Previous Entries
|