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LA Times (September 11)

2018/ 09/ 13 by jd in Global News

“America’s malls are dying. Owners are hoping virtual reality and fitness centers will save them.” As merchants increasingly withdraw in the face of e-tailers, Credit Suisse “recently predicted 20% to 25% of U.S. malls will shut down within five years…. To survive, malls need to set aside long-established models that rely on two or more anchor tenants to draw customers and, instead, develop a mixture of retail, entertainment and housing.”

 

Reuters (January 15)

2018/ 01/ 16 by jd in Global News

“London’s once red-hot housing market has slowed for the past year due to a double hit from higher purchase taxes on expensive homes and the June 2016 Brexit vote, which hurt demand from foreign buyers and raised fears of big job losses in the capital’s financial industry.” The average asking price dropped 3.5%, year on year, to approximately 601,000 pounds.

 

Wall Street Journal (October 15)

2015/ 10/ 16 by jd in Global News

“Murky data” are adding “to China’s housing headache.” The housing glut has eased in China, moving down from 25.2 months’ worth of supply in March to 16.5. But the “glut in China’s property market is worse than official data show,” as data excludes many partially completed or not yet for sale homes.

 

Financial Times (February 25)

2015/ 02/ 26 by jd in Global News

When then Federal Reserve Chairman Ben Bernanke signaled a potential policy change in 2013, he “triggered a ‘taper tantrum’ in financial markets across the world” and “put a chill on the US housing market.” Current Fed Chairman Janet Yellen “is determined not to do the same and catch the markets unaware.” Judging from the calm market reaction to her recent guidance, she is earning “high marks” for successfully managing expectations.

 

New York Times (December 2)

2012/ 12/ 03 by jd in Global News

While there have been some signs of a housing recovery in the U.S., action is still required. “In all, nearly 12 million borrowers collectively owe $600 billion more on their mortgages than their homes are worth, a loss of wealth and a load of debt that make a strong and steady economic recovery all but impossible.” President Obama should “use his second term to get mortgage relief right and, in the process, put the economy on a firm footing.”While there have been some signs of a housing recovery in the U.S., action is still required. “In all, nearly 12 million borrowers collectively owe $600 billion more on their mortgages than their homes are worth, a loss of wealth and a load of debt that make a strong and steady economic recovery all but impossible.” President Obama should “use his second term to get mortgage relief right and, in the process, put the economy on a firm footing.”

 

CBS (April 19)

2012/ 04/ 21 by jd in Global News

First New York banned cigarettes in workplaces, then parks and beaches. Now, Mayor Michael Bloomberg wants to make it easier for residents to find smoke-free housing. His proposal would require that potential renters and apartment buyers be informed of a building’s smoking policy. The Mayor explained his reasoning. “Because of air circulation in buildings, if you smoke in one apartment, other people in the building do get some of that smoke.”

First New York banned cigarettes in workplaces, then parks and beaches. Now, Mayor Michael Bloomberg wants to make it easier for residents to find smoke-free housing. His proposal would require that potential renters and apartment buyers be informed of a building’s smoking policy. The Mayor explained his reasoning. “Because of air circulation in buildings, if you smoke in one apartment, other people in the building do get some of that smoke.”

 

Bloomberg (September 23)

2011/ 09/ 25 by jd in Global News

Even though the Federal Reserve has kept interest rates low in an attempt to reduce strain on the housing market, the number of households speding an excessive amount on mortage payements has continued to rise. This “persistent stress in housing” illustrates “one of the main problems with the Fed’s attempts at monetary stimulus: Many borrowers simply can’t take advantage of lower mortgage rates, because their income has fallen, they owe more than their homes are worth, or they shouldn’t have qualified for a mortgage in the first place.”Even though the Federal Reserve has kept interest rates low in an attempt to reduce strain on the housing market, the number of households speding an excessive amount on mortage payements has continued to rise. This “persistent stress in housing” illustrates “one of the main problems with the Fed’s attempts at monetary stimulus: Many borrowers simply can’t take advantage of lower mortgage rates, because their income has fallen, they owe more than their homes are worth, or they shouldn’t have qualified for a mortgage in the first place.”

 

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