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These Cities are Poised to Recover the Fastest
November 27, 2009
Forbes.com, by Francesca Levy
Though Omaha, Neb., seems second-rate to some, Warren Buffett may have been on to something when he chose it for the headquarters of his massive holding company, Berkshire Hathaway. According to our research, the city has hit upon a formula to weather the economic downturn better than any other in the country. While no region has escaped the recession, in Omaha, three Texas metros, a handful of Northeastern manufacturing bases and select southern cities, diversified industry and relatively stable housing fundamentals have provided local residents with comparatively secure standards of living. In No. 2 city San Antonio, home to four military bases, and Austin, our third-ranked city and the state seat of government, municipal jobs supplement Texas' robust energy sector. In Dallas (No. 6), it's a thriving tech industry that buffers it from energy highs and lows. Although Houston (No. 8) is invested mostly in oil, it has diversified its energy industry beyond oil rigs into refining and chemicals manufacturing.
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http://www.msnbc.msn.com/id/34112641/ns/business-forbescom/ |
Recovery Could Look Like a 'U'
GlobeSt.com, Paul Bubny
November 19, 2009
Somewhere between the bullish V-shaped recovery and the dreaded "double dip" of a W-shaped one is where Bob Bach, SVP and chief economist at Grubb & Ellis, thinks the US economy will end up. Speaking here Wednesday at the company's annual Real Estate Forecast preview for media, Bach predicted a U-shaped recovery, with fundamentals continuing to decline well into 2010, after which there will be a long, slow period of sustained growth. Regardless of whether October's construction slump was a fluke after months of gains, Bach said all indications point to home ownership continuing to trend downward to historical averages. That bodes well for the rental market, which is why Bach believes the apartment sector will be the first to reach bottom and to begin gradually recovering thereafter. Next in line will be the industrial sector, which is starting to be buoyed by what Bach called the "nascent rebound" in global trade. However, both industrial and retail, the third sector to recover, could be jeopardized by long-term consumer deleveraging. |
Retail lineup for Domain II unveiled
Austin Business Journal
November 19, 2009
Simon Property Group Inc. unveiled details, including the initial retail lineup, for the second phase of the Domain Wednesday, which is set to open in February 2010. Included in the 600,000-square-foot Domain II are new retailers, 438 apartment units, 78,000 square feet of office space and restaurants. Simon has also partnered with White Lodging to add the Westin at The Domain, the first Westin hotel in Austin. It will include 340 rooms and about 14,000 square feet of meeting space. Some of those features are open already. Dick's Sporting Goods, one of the Domain II anchors, has opened, and the apartments are available for lease. The Westin will open in March. Domain II's retail lineup includes a mix of higher-end and more mainstream shops, from Agaci to Payless Shoes.
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Investors Bullish on Health Care Real Estate as Reform Draws Closer
November 18, 2009
CoStar News, By Randyl Drummer
With the mammoth health care reform package hanging in the balance, medical real estate companies will enter 2010 in the throes of debate over the legislation's potential impact on their business, especially those owning and occupying hospitals and hospital campus office space.
Some key questions remain unanswered about the legislation, which will cost anywhere between $849 billion and $3 trillion, depending on who's making the estimates. How will the final legislation affect hospitals and physicians? What companies, niches or sub-niches will be the winners and losers? How much new demand for space, if any, will the sweeping legislation generate -- and will it knock certain classes of medical property out of favor?
The answers may start coming into focus if Congress and President Obama meet their goal of passing a reform package by the end of the year. The House of Representatives passed a bill on Nov. 7 with a price tag that could range from just under $900 billion to $1.2 trillion. Senate Majority Leader Harry Reid moved the needle considerably late Wednesday, introducing a bill that covers 94% of Americans and costs $849 billion over 10 years. Both bills contain some form of "public option," a government-sponsored insurance plan, and the legislation is sure to bring intense debate in the Senate before both houses can hammer out a compromise for the president's signature.
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Tax Refunds, Relief for Builders
November 7, 2009
The new tax break for businesses signed into law on Friday will result in a windfall valued at hundreds of millions of dollars for the biggest home builders, boosting the cash hoard the companies are tapping as they limp toward recovery. The tax break would give companies big refunds to help make up for recent losses. Smaller private builders, which have been hit harder than big builders, would receive smaller refunds, but the cash will have a bigger impact. The tax break is part of a package that would also extend the first-time home-buyer tax credit |
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