Housing to drive economic growth (finally!)

January 27, 2013 in Articles

Author: Chris Isidore
Publication: CNN Money
The bursting of the housing bubble plunged the economy into a recession from which it has yet to fully recover. But economists say this could finally be the year that housing lifts us out of the doldrums.

Just over half of economists surveyed by CNNMoney identified a housing recovery as the primary driver of economic growth this year. The rest were split fairly evenly between consumer spending, increased domestic energy production and stimulus from the Federal Reserve as major growth drivers.

New design unveiled for Munjoy Hill perfomance hall

January 22, 2013 in Articles

Author: Randy Billings
Publication: Portland Press Herald

Neighbors and a city panel asked for a design that would better blend with its surroundings.

PORTLAND — An architectural firm has come up with a new design for a performance hall proposed on Munjoy Hill, in an effort to allay the concerns of neighbors and preservationists.

The Friends of the St. Lawrence Church submitted new plans for 411-seat performance hall on Munjoy Hill on Monday, Jan. 21, 2012, which seeks to address concerns raised by residents and historic preservationists.


2012 home sales: Best in 5 years

January 22, 2013 in News

Author: Chris Isidore
Publication: CNN Money
NEW YORK (CNNMoney)
Steady December home sales capped the best year for the U.S. real estate market in five years, according to an industry trade group report Tuesday.

The National Association of Realtors said that December sales of previously-owned homes came in just slightly below November's sales pace, but up 12.8% from a year ago. That brought full-year sales to 4.65 million, up 9% from 2011 and the best year for home sales since 2007, when there were 5 million homes sold just before the start of the recession.

Vacancy rates down in fourth quarter at U.S. centers

January 17, 2013 in Articles

Author: SCT Staff
Publication: Shopping Centers Today

Vacancy rates at U.S. malls and strip centers eased in the fourth quarter, according to research firm Reis, which tracks the top 77 U.S. markets. The vacancy rate at malls declined to 8.6 percent, off one-tenth of a percentage point from the previous quarter, Reis reports. The mall vacancy rate has now declined for the five consecutive quarters since an industry 12-year high of 9.4 percent in the third quarter of 2011, according to Reis.


Commercial Real Estate Vacancies Slowly Declining, Rents Rising

January 14, 2013 in Articles

Author: Media Contact: Walter Molony
Publication: Commercial Connections
Most of the major commercial real estate sectors show gradually improving fundamentals and are easily absorbing the relatively small amount of new space that is coming online, with a full recovery already in the multifamily market, according to the National Association of Realtors® quarterly commercial real estate forecast.

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