PREA Members Forecast Improvement for CRE Industry in 2015
The good times for commercial real estate are likely to keep going a little longer, according to experts surveyed for the latest Consensus Forecast survey from the Pension Real Estate Association (PREA). ?Forecasters continue to become more optimistic for 2015,? says Greg MacKinnon, director of research at PREA… Read more »
US Construction Spending to Rise 7%
Fitch Ratings has just released its annual outlook report for the US building materials industry and projects strong growth in overall construction spending during 2015. The private sector should be particularly strong and help boost construction spending by 7%. ?Public construction spending remains constrained and is expected to increase only slightly next year,? Fitch researchers say… Read more »
Consumer Sentiment: Confidence Surges to New Postrecession High
Americans? confidence surged to a new postrecession high this month, a survey showed Friday, boosting hopes for stronger consumer spending in coming months as gasoline prices tumble. The Thomson-Reuters/University of Michigan preliminary index of consumer sentiment rose to 93.8 in early December?the highest level in eight years?from a final reading of 88.8 in November, analysts said. Economists surveyed by The Wall Street Journal had expected the index to climb to 90.0… Read more »
More international investors targeting U.S. retail properties: Report
The U.S. retail market is becoming more important to international investors seeking diversification and strong returns, according to JLL?s report on global capital flows, released at the ICSC New York National Deal Making conference this week in New York City. The firm anticipates a measured and selective uptick in cross-border retailing and capital flows into the U.S. in the coming year… Read more »
Home Equity Grows During the Third Quarter
According to NAHB tabulations of the third quarter Federal Reserve Flow of Funds, the real estate equity position of U.S. households (the difference between assets and liabilities) increased nearly 1.6% for the quarter. The market value of real estate held by U.S. households increased $180 billion dollars during the quarter, while liabilities (home mortgages) remained virtually unchanged. The value household-owned real estate, including owner-occupied and second homes, totaled $20.4 trillion for the quarter. Total home mortgage debt outstanding stands at $9.4 trillion… Read more »
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