Guarded Optimism
Concerns about financing and a sluggish U.S. economy won’t deter commercial real estate investors.
Despite a softening economy and turmoil in the capital mar- kets, investors continue to have confidence in the U.S. commercial real estate industry. A survey of more than 1,000 private institutional real estate investors shows only one in five respondents believe the economy will be stronger in 2008, yet the majority want to invest more funds in the sector. More…
It’s the multi-million-dollar question facing the Valley’s commercial real estate industry: How badly will the housing market’s crash and subsequent sub-prime mortgage crisis hurt commercial development in 2008? More…
Who knew that the loonie would come to the aid of
WASHINGTON - The mortgage crisis intensified Tuesday as Freddie Mac, the nation’s No. 2 buyer and guarantor of home loans, posted its largest quarterly loss ever and warned that it might need to curtail its business unless it can raise fresh capital. More…
Even the Trump name isn’t bigger than the calamitous condo market. Donald Trump’s reputation as a real-estate developer could take a hit as some condominium projects emblazoned with his famous name run into trouble. More…
The volume of used homes sold in the metro
The Florida-based parent company of a major Valley home builder said it might have to reorganize under Chapter 11 bankruptcy protection after losing $619.7 million in three months. More…
Eighty-five bungalows dot the cul-de-sac that joins West Ontario Avenue and
Businesses and real-estate analysts are eagerly awaiting the completion of two high-rise projects in downtown Phoenix that are expected to help ease a chronic office-space shortage in one of the Valley’s top business markets. More…
TEMPE - The city’s Development Review Commission waved through the Monti’s La Casa Vieja high-rises during a marathon meeting Tuesday night, leaving the City Council as the last hurdle for the controversial project. More…
CHARLOTTE,
The CityNorth project in northeast Phoenix “topped out” on its first phase of construction late last week, and the Goldwater Institute “celebrated” by releasing two studies questioning a nearly $100 million subsidy Phoenix gave to the development. More…
CHARLOTTE, N.C. - Bank of America Corp. said Tuesday that it will take a $3 billion debt-related write-down in the fourth quarter and warned its losses could grow, adding to fears the nation’s housing and mortgage-lending slump might exact a greater toll than in the wretched third quarter when industrywide write-downs topped $40 billion. More…
The housing industry has problems with soaring foreclosures, big inventories and homes that take forever to sell. But there’s a related sector that has it worse. The manufactured-housing industry is suffering its lowest sales in at least 40 years. More…
NEW YORK - Shares of online brokerage E-Trade Financial Corp. lost more than half their value Monday, with a Citigroup analyst saying that customers were poised to flee and that the company was at risk of bankruptcy. More…
Washington Mutual Inc. got what it wanted in 2005: A revised bankruptcy code that no longer lets people walk away from credit card bills. The largest
NEW YORK - The weakening dollar has caused many problems for consumers, but it may also be providing one unintended - and very welcome - benefit: a rally in the struggling housing market driven by foreign investors. More…