CMBS market emerges from the shadows

CMBS market emerges from the shadows
Date: 29 August 2011

Europe's CMBS market is emerging from the shadows after four years in the doldrums, sending a signal to the market that it is once again a credible source of debt capital. In August, Deutsche Bank underwrote £450 mln (EUR 513 mln) of new UK loans which are likely to form the basis of another CMBS deal. The new loans are reportedly secured on the Merry Hill regional shopping centre in the West Midlands, the Design Centre in Chelsea Harbour in London and Milton Park, a business park in Oxfordshire.

http://www.propertyeu.info/index-newsletter/cmbs-market-emerges-from-the-shadows/

Bloomberg: Home Short Sales Increase as Banks ‘More Realistic’ on Market

Home Short Sales Increase as Banks ‘More Realistic’ on Market
By Dan Levy - Aug 24, 2011 08:01 PM

U.S. homes nearing foreclosure accounted for 12 percent of total sales in the second quarter as banks agreed to more transactions at prices below the outstanding mortgage balance, RealtyTrac Inc. said.

NYT: U.S. May Back Refinance Plan for Mortgages

U.S. May Back Refinance Plan for Mortgages
By SHAILA DEWAN and LOUISE STORY
Published: August 24, 2011

The Obama administration is considering further actions to strengthen the housing market, but the bar is high: plans must help a broad swath of homeowners, stimulate the economy and cost next to nothing.

Bloomberg: Orders for Durable Goods in U.S. Increase 4%, Twice as Much as Estimated

Orders for Durable Goods in U.S. Increase 4%, Twice as Much as Estimated
By Shobhana Chandra - Aug 24, 2011 01:12 PM

Orders for U.S. durable goods climbed more than forecast in July as a surge in demand for aircraft and autos eclipsed a decrease in business equipment, including computers and machinery.

CNNMoney: Foreclosure settlement: Spat among the states

Foreclosure settlement: Spat among the states
By Jennifer Liberto @CNNMoney August 24, 2011: 3:13 PM ET

WASHINGTON (CNNMoney) -- A deal to help victims of improper foreclosures has been slow going, in large part because of infighting among state attorneys general over giving banks a free pass from future lawsuits.

Bloomberg: Home Prices Decline 5.9% in Second Quarter

Home Prices Decline 5.9% in Second Quarter
By Kathleen M. Howley - Aug 24, 2011 07:21 AM

Home prices in the U.S. fell 5.9 percent in the second quarter from a year earlier, the biggest decline since 2009, as foreclosures added to the inventory of properties for sale.

Reuters: U.S. housing faces extra drag - low appraisals

U.S. housing faces extra drag - low appraisals
By Alexandra Alper
NEW YORK | Wed Aug 24, 2011 8:07am EDT

(Reuters) - When Sean McGowan signed a contract to buy a New Jersey home in November, he didn't expect he'd still be living with his parents nearly a year later.

Bloomberg: Homeowner Associations in Need of Cash Sue to Force Foreclosures

Homeowner Associations in Need of Cash Sue to Force Foreclosures
By John Gittelsohn - Aug 23, 2011 08:01 PM

Members of the Vintage East Condominium Association in Miami Beach got tired of waiting for JPMorgan Chase & Co. (JPM) to foreclose on unit 9, so they sued the bank in February to take control of the property.

CNNMoney: Is yield curve signaling a recession?

Is yield curve signaling a recession?
By Hibah Yousuf August 23, 2011: 1:59 PM ET

NEW YORK (CNNMoney) -- Amid the growing number of signs that the United States may tip back into a recession, the bond market is sounding its own siren.

SG: New home sales slumped to a five-month low in July (B. Jones)

Eco Analysis - New home sales slumped to a five-month low in July (B. Jones)

■ Consistent with our expectation, new home sales remained on a downtrend

The Census Bureau reported that the number of new homes going to contract slipped by 0.7% to a seasonally adjusted annual rate of 298,000 in July, boosting the cumulative slide since April to 5.7%. Downward adjustments to the previously reported figures for April through June pared the Q2 average by 7,000 to 308,000.