Real Estate Slump Isn't Over, Exec Says
Real Estate Slump Isn't Over, Exec Says
September 18, 2009, San Diego Union-Tribune
Federal Reserve Chairman Ben Bernanke may think the recession is over, but the head of the nation's largest real estate services firm says the slump has two or three years to go in his industry. John C. Cushman III, chairman of Cushman & Wakefield, told an audience at the Burnham-Moores Center for Real Estate yesterday that the commercial real estate industry faces $5 trillion in mortgage refinancing problems over the next decade. Improved leasing, sales and construction conditions are unlikely until 2011 or 2012, he said.
"Option" Mortgages to Explode, Officials Warn
September 17, 2009, Reuters
The federal government and states are girding themselves for the next foreclosure crisis in the country's housing downturn: payment option adjustable rate mortgages that are beginning to reset. Payment option ARMs are about to explode," Iowa Attorney General Tom Miller said after a Thursday meeting with members of President Barack Obama's administration to discuss ways to combat mortgage scams.
Jones Lang LaSalle Starts Online Auction Joint Venture
September 16, 2009, ChicagoRealEstateDaily.com
Real estate services firm Jones Lang LaSalle said Wednesday it was launching a joint venture with Real Estate Disposition LLC to offer a service to sell property online in an effort to draw out cautious investors.
One Newspaper Company Finds Salvation In Mortgage Foreclosures
September 16, 2009, Investor’s Business Daily
The old saying in the news biz goes: "If it bleeds, it leads." Newspaper publisher Dolan Media has found its own way to profit from the carnage in the mortgage industry.