World Property Channel
U.S. Commercial, Multifamily Mortgage Delinquency Rates Dip in 3Q
Posted by David Barley 12/07/12 8:00 AM EST
According to the Mortgage Bankers Association's (MBA) Commercial/Multifamily Delinquency Report, delinquency rates decreased for commercial and multifamily mortgage loans in the third quarter.
Friday, December 7, 2012
Chile: We expect consumer prices to have inched down modestly in November
Florencia Vazquez,Gustavo Arruda,Marcelo Carvalho,Nader Nazmi - Market Economics
Daily Latam Spotlight | 07 Dec 2012 06:00 |
Chile: We expect consumer prices to have inched down modestly in November.
CHILE
We expect modest deflation in November. The report will be unveiled today. After an upside surprise in October, consumer price inflation is expected to have dived into negative terrain in November. The m/m decline is estimated to be modest, though. We look for a negative print smaller than 0.1% in absolute terms. If the forecast materializes, the y/y inflation rate would have declined to 2.5% last month. The median estimate from the Bloomberg survey expects consumer prices to have remained unchanged last month. The consensus y/y rate expectation is 2.6%.
Daily Latam Spotlight | 07 Dec 2012 06:00 |
Chile: We expect consumer prices to have inched down modestly in November.
CHILE
We expect modest deflation in November. The report will be unveiled today. After an upside surprise in October, consumer price inflation is expected to have dived into negative terrain in November. The m/m decline is estimated to be modest, though. We look for a negative print smaller than 0.1% in absolute terms. If the forecast materializes, the y/y inflation rate would have declined to 2.5% last month. The median estimate from the Bloomberg survey expects consumer prices to have remained unchanged last month. The consensus y/y rate expectation is 2.6%.
Thursday, December 6, 2012
Eco Analysis - Australia: Big trade deficit, but also better exports (K Baader)
Eco Analysis - Australia: Big trade deficit, but also better exports (K Baader)
Australia's October trade figures added another piece of evidence that intra-Asian trade - and arguably global trade - is picking up. Export values rose for the first time in five months, albeit by a mere 0.4% mom, but that is a respectable performance considering that, according to the RBA measure, commodity prices were down 2.2% in October. The rise owed much to a jump in exports to China, which surged 20% mom (but caution, not seasonally adjusted), lifting the annual rate to -11% from -25%. This supports the notion that de-stocking in China has come to an end. Meanwhile, imports into Australia surged, led by capital goods, indicating that strong investment activity extended into Q4.
Australia's October trade figures added another piece of evidence that intra-Asian trade - and arguably global trade - is picking up. Export values rose for the first time in five months, albeit by a mere 0.4% mom, but that is a respectable performance considering that, according to the RBA measure, commodity prices were down 2.2% in October. The rise owed much to a jump in exports to China, which surged 20% mom (but caution, not seasonally adjusted), lifting the annual rate to -11% from -25%. This supports the notion that de-stocking in China has come to an end. Meanwhile, imports into Australia surged, led by capital goods, indicating that strong investment activity extended into Q4.
Top 10 Investor Questions For 2013: Global Real Estate
Top 10 Investor Questions For 2013: Global Real Estate
05-Dec-2012
How does the prospect of a slow U.S. economic recovery affect Standard & Poor's Ratings Services' views on the credit quality of REITs and homebuilders in this market?How does Standard & Poor's account for divergent economic trends in its financial performance forecasts for real estate companies in the Asia-Pacific region? What implications does the prevailing weak macroeconomic environment in Europe have for real estate ratings? What are Standard & Poor's views on the funding outlook for the U.S. real estate sector? What are the most notable debt capital market developments for real estate in the Asia-Pacific region? What are funding conditions like for real estate in Europe? What is your credit outlook for the main property sectors in the U.S.? What is your credit outlook for the main property sectors in Asia-Pacific? What is your credit outlook for Europe's retail and office property sectors?What are the likely prospects for M&A activity in the real estate sector across the three major regions? The global real estate sector is set to finish the year 2012 on a cautiously positive note. Capital real estate values have broadly remained stable, rated real estate investment trusts (REITs) are on track in terms of leasing activity, and most rated developers are seeing improved profitability. The funding environment for rated real estate has improved significantly since 2010-2011, and investor appetite for real estate debt is growing. We're also seeing real estate companies shift toward debt issuance and nonbank funding rather than bank debt--a trend that we believe will continue into 2013. We believe credit quality among our rated portfolio of real estate companies should remain stable into 2013. This is because our base-case operating scenarios for rated estate companies balance macroeconomic headwinds with firms' well-diversified, high quality portfolios.
S&P: Top 10 Investor Questions For 2013: Global Real Estate
05-Dec-2012
How does the prospect of a slow U.S. economic recovery affect Standard & Poor's Ratings Services' views on the credit quality of REITs and homebuilders in this market?How does Standard & Poor's account for divergent economic trends in its financial performance forecasts for real estate companies in the Asia-Pacific region? What implications does the prevailing weak macroeconomic environment in Europe have for real estate ratings? What are Standard & Poor's views on the funding outlook for the U.S. real estate sector? What are the most notable debt capital market developments for real estate in the Asia-Pacific region? What are funding conditions like for real estate in Europe? What is your credit outlook for the main property sectors in the U.S.? What is your credit outlook for the main property sectors in Asia-Pacific? What is your credit outlook for Europe's retail and office property sectors?What are the likely prospects for M&A activity in the real estate sector across the three major regions? The global real estate sector is set to finish the year 2012 on a cautiously positive note. Capital real estate values have broadly remained stable, rated real estate investment trusts (REITs) are on track in terms of leasing activity, and most rated developers are seeing improved profitability. The funding environment for rated real estate has improved significantly since 2010-2011, and investor appetite for real estate debt is growing. We're also seeing real estate companies shift toward debt issuance and nonbank funding rather than bank debt--a trend that we believe will continue into 2013. We believe credit quality among our rated portfolio of real estate companies should remain stable into 2013. This is because our base-case operating scenarios for rated estate companies balance macroeconomic headwinds with firms' well-diversified, high quality portfolios.
S&P: Top 10 Investor Questions For 2013: Global Real Estate
New $15 Billion Hudson Yards Project Breaks Ground on Manhattan's West Side
World Property Channel
New $15 Billion Hudson Yards Project Breaks Ground on Manhattan's West Side
Posted by Hortense Leon 12/06/12 8:15 AM EST
A city within a city was launched on Tuesday of this week, when ground was broken for the first building in the approximately $15 billion mixed-use Hudson Yards development on the west side of Manhattan.
New $15 Billion Hudson Yards Project Breaks Ground on Manhattan's West Side
Posted by Hortense Leon 12/06/12 8:15 AM EST
A city within a city was launched on Tuesday of this week, when ground was broken for the first building in the approximately $15 billion mixed-use Hudson Yards development on the west side of Manhattan.
Chile: Growth cooled down further on a sequential basis in early Q4
Florencia Vazquez,Gustavo Arruda,Marcelo Carvalho,Nader Nazmi - Market Economics
Daily Latam Spotlight | 06 Dec 2012 06:00 |
Chile: Growth cooled down further on a sequential basis in early Q4.
CHILE
Growth cooled down further on a sequential basis in early Q4. The monthly proxy for real GDP, Imacec, was reported to have advanced a robust 6.7% y/y in October. This reading stood slightly ahead of our forecast and the median estimate from the Bloomberg survey (both: 6.2% y/y). On a three-month moving average basis, growth accelerated slightly to an above-potential 6.0% y/y.
Daily Latam Spotlight | 06 Dec 2012 06:00 |
Chile: Growth cooled down further on a sequential basis in early Q4.
CHILE
Growth cooled down further on a sequential basis in early Q4. The monthly proxy for real GDP, Imacec, was reported to have advanced a robust 6.7% y/y in October. This reading stood slightly ahead of our forecast and the median estimate from the Bloomberg survey (both: 6.2% y/y). On a three-month moving average basis, growth accelerated slightly to an above-potential 6.0% y/y.
Wednesday, December 5, 2012
U.S. Multi-Family Sector's Vacancy Rates Expected to Rise in 2013
World Property Channel
U.S. Multi-Family Sector's Vacancy Rates Expected to Rise in 2013
Posted by Hortense Leon 12/05/12 8:18 PM EST
Although the U.S. multi-housing vacancy rate is expected to go up in 2013, it will remain near the historic average.
U.S. Multi-Family Sector's Vacancy Rates Expected to Rise in 2013
Posted by Hortense Leon 12/05/12 8:18 PM EST
Although the U.S. multi-housing vacancy rate is expected to go up in 2013, it will remain near the historic average.
Tesco US Exit Would End Losses, Allow UK Turnaround Focus
Fitchratings.com
05 Dec 2012 11:35 AM
Tesco US Exit Would End Losses, Allow UK Turnaround Focus
Fitch Ratings-London-05 December 2012: A withdrawal from the US would benefit Tesco's financial profile by halting several more years of operating losses and would allow the retailer to focus on addressing more pressing issues in its home market, Fitch Ratings says. Early expectations for growth from the US business quickly proved over-optimistic, especially as it was launched just before the economic downturn. Still a withdrawal would leave the group's European and Asian operations as the only source of international diversification.
05 Dec 2012 11:35 AM
Tesco US Exit Would End Losses, Allow UK Turnaround Focus
Fitch Ratings-London-05 December 2012: A withdrawal from the US would benefit Tesco's financial profile by halting several more years of operating losses and would allow the retailer to focus on addressing more pressing issues in its home market, Fitch Ratings says. Early expectations for growth from the US business quickly proved over-optimistic, especially as it was launched just before the economic downturn. Still a withdrawal would leave the group's European and Asian operations as the only source of international diversification.
A Boom in Houston Is Led by the Energy Industry
A Boom in Houston Is Led by the Energy Industry
Office buildings under construction in the Woodlands Town Center. The taller one is for Anadarko Petroleum.
By MATT HUDGINS
Published: December 4, 2012
HOUSTON — Even first-time visitors here can tell that the city is growing rapidly. Construction cranes overhang office and apartment sites all along the Katy Freeway, a stretch of Interstate 10 that connects a string of booming submarkets west of the 610 Loop. This expanse includes the Westchase neighborhood and the Energy Corridor, home to an expanding cluster of energy companies.
http://www.nytimes.com/2012/12/05/realestate/commercial/houstons-boom-is-led-by-the-energy-industry.html
Office buildings under construction in the Woodlands Town Center. The taller one is for Anadarko Petroleum.
By MATT HUDGINS
Published: December 4, 2012
HOUSTON — Even first-time visitors here can tell that the city is growing rapidly. Construction cranes overhang office and apartment sites all along the Katy Freeway, a stretch of Interstate 10 that connects a string of booming submarkets west of the 610 Loop. This expanse includes the Westchase neighborhood and the Energy Corridor, home to an expanding cluster of energy companies.
http://www.nytimes.com/2012/12/05/realestate/commercial/houstons-boom-is-led-by-the-energy-industry.html
Tuesday, December 4, 2012
US LNG EXPORT PROJECTS—1: Three-point system compares US LNG export projects
http://www.ogj.com/articles/print/vol-110/issue-12/transportation/us-lng-export-projects-1-three-point.html
US LNG EXPORT PROJECTS—1: Three-point system compares US LNG export projects
12/03/2012
John E. Paisie
JEA Consulting Group
Toledo, Ohio
Evaluating potential US LNG export terminals on the basis of their development plan, financial health, and development timeline allows a sorting of the various projects by their likelihood of completion.
US LNG EXPORT PROJECTS—1: Three-point system compares US LNG export projects
12/03/2012
John E. Paisie
JEA Consulting Group
Toledo, Ohio
Evaluating potential US LNG export terminals on the basis of their development plan, financial health, and development timeline allows a sorting of the various projects by their likelihood of completion.
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