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...The company’s push into lending comes at a time when many real estate investors are finding debt to be a more attractive way to put money to work in property, compared with buying assets outright or developing...
...Even today, after a real estate boom in the area and a remade mansion, it is perhaps worth even less than the debt on the property....
...But to make it real, not academic, it has to be a harvested capital gain, which is actually selling the asset....
...The UK property sector has a proud tradition of being the gloomiest corner of the European market in every crash. Not this time....
...Real estate is “hyperlocal”, as Hendry puts it, so property-level analysis (or rock-solid conviction in a Reit’s managers) is a must....
...The Haussmann market Paris property is a tale of two markets....
...More than 90 per cent of S&P 500 stocks closed higher on Wednesday, as a broad rally in late trading lifted the benchmark index to its first record high in almost a week....
...More than 90 per cent of S&P 500 stocks closed higher, as a broad rally in late trading lifted the benchmark index to its first record high in almost a week....
...The S&P 500 as a whole has a weighted average P/E of 26, reflecting the higher valuations of larger companies in the index....
...Class action lawyers get a bad rap, but last week they forced the National Association of Realtors to scrap a system that allegedly inflated the $100bn that Americans shell out on real estate commissions...
...Broker Liquidnet said it has seen a surge in trading volumes in real estate investment trusts, and also in property-related debt — not just in the speculative part of the market, but also at the more conservative...
...Vanke’s commitment to cut debt by Rmb100bn over the next two years aligns with a long-standing push from Beijing to deleverage the real estate sector....
...The placing comes as commercial property investors start to hunt for deals following a steep fall in real estate valuations brought on by rising interest rates....
...Surging property prices in recent years has been a common theme for many major cities around the world....
...Darcy Stacom, one of the most powerful figures in New York City real estate, is leaving brokerage firm CBRE after 22 years in a further sign of the crisis upending commercial property....
...A small German mortgage lender has become one of Europe’s most bet-against stocks as it battles a surge in souring loans tied to US commercial property....
...“It’s a good time for select names in Chinese real estate. It is 25, 30 per cent of [gross domestic product] and it’s not going to disappear,” said Koenigsberger....
...It’s been clear for nearly a year that regional banks’ fates could turn on their exposure to commercial real estate markets, and New York Community Bancorp just gave investors a very jarring reminder....
...the S&P 500 stock market index over the past year....
...The S&P Global/Cips UK construction purchasing managers’ index, a measure of the health of the industry, rose to 49.7 in February from 48.8 in January....
...They all trade at very high P/E multiples and have quite moderate expected growth; they have high PEG ratios. Real safety will cost you as much or more than growth in this market....
...Rising losses and a wave of distressed asset sales look inevitable in Europe too....
...On a conference call with analysts in January, Gray said Breit had “weathered the storm” in real estate markets, but he warned that Blackstone did not expect to see a “V-sharped recovery” in property values...
...This helps explain why the People’s Bank of China, faced with a massive real estate bust, has only gradually cut rates, which remain well above 0 per cent....
...A shortage of properties for sale has also helped to prop up valuations and real prices across the OECD returned to growth in the latest quarter....
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