Here is a round up of real estate related news stories I found interesting this week.
- Home sales in Memphis, TN were either up by 8% or 12% for the month of January depending on who you talked to. Either way they were up!
- The foreclosure crisis has decreased home ownership rates across the US. Less homeowners means more renters. The market is waking up to this fact. Keep your eyes open for a possible multi-family price bubble in the future.
- Banks may have finally figured out that short sales are a good way to dispose of some inventory. Perhaps now investors will actually be able to complete short sales!
- Commercial real estate is overbuilt. The times are changing and businesses like Amazon.com are leading the way.
- A quick take on the robo-signing deal. A good deal?
- Now that the robo-signing deal is done, people may not get to live for free anymore and will actually have to pay their mortgages or rents. That may suck as much as $50 billion out of the retail economy.
- Big money is looking to start buying up all those foreclosed single family homes and rent them out.
“The new loan program would likely be only available for deals of $100 million or more.”
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The world’s tallest building is now a distressed property. The folks here called it way back in 2007.
Anything else catch your eye this week? Send me a message and let me know.
