_Economy and Finance

Eco Analysis - UK lending positive again but SME finance still weak (B. Hilliard) The UK money and credit release showed mortgage approvals picking up much as expected - a slightly faster pace from 63.4k to 66.7k. This is still very low compared to all the hype about the housing boom though but further gains are certain to follow. Consumer credit was a little bit weak at only £0.4bn.

http://www.pionline.com/article/20131028/PRINT/310289996/real-estate-assets-still-growing-but-at-a-slower-pace Real estate assets still growing, but at a slower pace Worldwide figure climbs to $882 billion; U.S. institutional tax-exempt total rises 10% BY ARLEEN JACOBIUS | OCTOBER 28, 2013 Buoyed by rising property values, total worldwide assets of the largest institutional real estate money managers responding to Pensions & Investments' annual survey grew 9% to $882.2 billion in the year ended June 30, exhibiting slower growth than the 11.7% of last year's survey.

Housing in Germany grows more expensive than ever The cost of buying a home or renting an apartment in major cities in Germany is rising sharply, the central bank warns. That's how the crisis in the US, Ireland and Spain began. Is Germany next? http://www.dw.de/housing-in-germany-grows-more-expensive-than-ever/a-17181528

German house prices could be overvalued by 20%: Bundesbank Matt Clinch | @mattclinch81 Tuesday, 22 Oct 2013 | 2:55 AM ET Housing prices in several cities in Germany could be overvalued by as much as 20 percent, according to the country's central bank. http://www.cnbc.com/id/101130887

10:47 am ET Oct 21, 2013 Global Germany’s Central Bank Warns of Local Housing Bubbles Germany’s central bank, the Deutsche Bundesbank, sounded an alarm Monday, warning that urban real estate in the country could in some cases be significantly overvalued, against a backdrop of low interest rates. http://blogs.wsj.com/economics/2013/10/21/germanys-central-bank-warns-of-local-housing-bubbles/

Frankfurt am Main | 2013-10-21 Possible overvaluation of residential property in German cities Housing prices in German cities have been rising so strongly since 2010 that a possible overvaluation cannot be ruled out. This is the finding of an article contained in the Bundesbank’s most recent Monthly Report. According to this article, there are no signs of substantial exaggerations in the housing market as a whole. Nevertheless, price rises have been observed in urban centres, in particular, which “are difficult to justify based on fundamental factors”, the Bundesbank says. http://www.bundesbank.de/Redaktion/EN/Topics/2013/2013_10_21_possible_overvaluation_of_residential_property_in_german_cities.html

http://www.efinancialnews.com/story/2013-10-18/ubs-launches-infra-debt-platform UBS launches infra debt platform Sarah Krouse in Manchester 18 Oct 2013 UBS Global Asset Management has made its first push into infrastructure debt, with the unveiling of a new platform seven months after appointing a senior investment banking executive to spearhead the move.

COMMERCIAL REAL ESTATE Italy Attracts Real-Estate Investors From Abroad Confidence in Euro Zone Is Prompting Bets on Weaker Markets By ALESSIA PIROLO Oct. 15, 2013 8:26 p.m. ET Foreign investors are showing a growing appetite for Italian commercial real estate, a sign that the gradual improvement of the European economy is being felt in some of the Continent's weaker property markets. http://online.wsj.com/news/articles/SB10001424052702304330904579137381040342114

Hermes launches inaugural real estate loan fund Sarah Krouse 14 Oct 2013 Hermes Real Estate Investment Management is planning to originate up to £1 billion in senior real estate loans each year, moving into the burgeoning sector for the first time. http://www.efinancialnews.com/story/2013-10-14/hermes-launches-inaugural-real-estate-debt-fund?ea9c8a2de0ee111045601ab04d673622

Renshaw Bay wins mandate to run £350m real estate debt fund 11 Oct 2013 UK – Investment manager Renshaw Bay has won a mandate from life and pensions insurer Guardian Financial Services to run a £350m (€412m) commercial real estate debt fund. http://www.ipe.com/news/renshaw-bay-wins-mandate-to-run-350m-real-estate-debt-fund_58379.php

http://www.colliers.com/en-us/sanfrancisco/insights 2013 | Q3 San Francisco Office Report >> The San Francisco office market bounced back from a uneventful first half, and accelerated during the third quarter of 2013 with rent growth and release of several notable properties on the sale market. San Francisco remains ahead of the burgeoning global economy as job growth from its well-funded tech sector benefitted the office market. The third quarter registered the thirteenth consecutive quarter of positive net absorption and vacancy is now below the 10 percent “tipping point” citywide for the first time in consecutive quarters since 2001. Moreover, the rise of the city’s employment and leasing volume over the last 30 months have pushed forward the construction of 4.15 million square feet of new and rehabilitated office development with anticipation of additional projects breaking ground. http://www.colliers.com/en-us/sanfrancisco/insights

Global Office Property Clock http://www.joneslanglasalle.com/GMP/en-gb/Pages/Global-Market-Perspective-Clock.aspx Global Office Rent Cycle MarketView and Charts - CBRE http://www.cbre.com/EN/research/2013-reports/Pages/Select-European-Markets-Show-Signs-of-Improvement.aspx Global Market Perspective - Charts http://www.joneslanglasalle.com/GMP/en-gb/Pages/Global-Market-Perspective-Charts.aspx Global Market Perspective - Office Markets http://www.joneslanglasalle.com/GMP/en-gb/Pages/Global-Market-Perspective-Offices.aspx Global Market Perspective - Retail Markets http://www.joneslanglasalle.com/GMP/en-gb/Pages/Global-Market-Perspective-Retail.aspx United States Office Property Clock - Jones Lang LaSalle http://www.us.am.joneslanglasalle.com/unitedstates/en-us/pages/office-property-clock.aspx United States Industrial Property Clock - Jones Lang LaSalle http://www.us.am.joneslanglasalle.com/unitedstates/en-us/pages/industrial-property-clock.aspx United States Retail Pr...

European prime property rents to increase in 2014 ​EXPO REAL, 7 October 2013 – Jones Lang LaSalle’s real estate data for H1 2013 indicates a stabilising situation across European prime property, with signs of recovery apparent in several key markets. http://www.joneslanglasalle.eu/EMEA/EN-GB/Pages/Newsitem.aspx?ItemID=29318#.UlSAXobIZOw

http://business.time.com/2013/10/03/texas-tea-party/ An Energy Boom That Could Last For a bursting oil region like Texas, experience is an asset By Bryan Walsh / Midland @bryanrwalsh Oct. 03, 2013 Oil and natural gas are old energy — as old as it gets. But increasingly, the technology used to extract them is cutting-edge. “Over the last 20 or 30 years, there’s been more technological leaps out of the oil and gas industry than there’s been out of Silicon Valley,” says Dale Nijoka, Ernst & Young’s global oil and gas leader.

http://blogs.wsj.com/developments/2013/10/02/no-shutdown-in-sight-san-francisco-leads-office-leasing-on-tech-strength/ October 2, 2013, 7:30 AM. San Francisco Leads Office Leasing on Tech Strength It’s slow going in the U.S. office market.

http://finance.yahoo.com/news/digital-realty-prudential-real-estate-220300914.html Digital Realty And Prudential Real Estate Investors Announce $369 Million Joint Venture SAN FRANCISCO, Oct. 2, 2013 /PRNewswire/ -- Digital Realty Trust, Inc. (DLR), a leading global provider of data center solutions, announced today the formation of a $369 million joint venture with an investment fund managed by Prudential Real Estate Investors ("PREI"), the real estate investment management and advisory business of Prudential Financial, Inc. (PRU).

KNOC strikes oil in Canada Monday, September 30th, 2013 http://sweetcrudereports.com/2013/09/30/knoc-strikes-oil-in-canada/ 30 September 2013 News Wires - State-run Korea National Oil Corp, KNOC, said on Sunday its Canadian subsidiary found at least 5.9 million barrels of oil in a well where it began drilling earlier this month.

He who will not economize will have to agonize. - Confucius (孔子, 551BC–479BC)