Archive for October 27th, 2008
Continue Reading October 27th, 2008
It seems that the financial crisis arrived last month at a time when new home sales were finally kicking into gear.
Seasonally adjusted new home sales contracts jumped unexpectedly by 2.7% last month, the Commerce Department said today. But it’s likely that many of those contracts were signed before Lehman Brothers collapsed on September 15 and credit markets seized up.
We’ll have to wait until next month to really get a sense of how that impacted builder sales. It’s clear that builders were cutting prices dramatically and buyers were taking advantage of the discounts. The median new home price fell 9% in September from a year earlier.
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Continue Reading October 27th, 2008
Sales of newly constructed homes rose in September, according to the monthly report from the U.S. Census Bureau, inching up 2.7% from August to an annualized rate of 464,000.
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Continue Reading October 27th, 2008
CB Richard Ellis has been exclusively retained by Saltru Associates to sell the leasehold interest in Ceasar’s Bay Shopping Center, a 294,000-square-foot, 100-percent occupied shopping center located at 8973 Bay Parkway in Brooklyn, N. Y. Read more »
Continue Reading October 27th, 2008
The U.S. and California state economies will move in tandem over the next few years, with income and employment deteriorating further before the housing market hits bottom, according to the UCLA Anderson Forecast for Orange County, which was released today. The UCLA Anderson School of Management produces the report annually. Read more »