GLG News by Land Acquisition Experts (US)

The article suggests new home building has "hit bottom" in metro Phoenix.  Regardless of what is meant by "hit bottom", the new home market is at least a few months from hitting bottom.

Recent survey data suggests the market may have turned a corner.  Speculative supply appears to be retreating and pricing should soon stabilize.

Here’s more evidence that we’re not at any bottom in the residential market and that more hard times are ahead.

Mills Says Accounting Errors Caused by Misconduct www.bloomberg.com MILLS CORP. CEO SAYS NO HIDDEN PROBLEMS (article) www.tribune.com | Real Estate Investment Trusts (REIT)" href="http://news.glgroup.com/cm/Analysis/Browse.aspx?a=aj&rxid=11127">...>Real Estate Investment Trusts (REIT) Transparency...

This is just the beginning of a trend as we move our economy ahead in capital goods and other manufacturing areas.  About 40% of our industrial property inventory is devoted to manufacturing as opposed to warehousing or speculative flex space.  This manufacturing percentage has been decreasing...

The key to the future success of the Mills’ properties lies with the releasing and renovation programs which will increase sales volumes and the profitability of tenants. The rents will then accelerate and the return on the investment will provide a greater residual to the land/equity. This is the story...

Residential development in the far past over a quarter century ago followed jobs.  Aerospace in Southern California, electronics in Phoenix, aircraft and software in Seattle, Disney in Anaheim and Orlando and gaming in Las Vegas were the stimulus for job growth and resulting homebuilding. ...

Old adages just keep turning up.  This company is being done in by the autocratic attitude of its now ex-CEO and the continuing concentration of power in the hands of Private Equity Capital.  Mr. Nardelli just wasn’t nice and when they could, the investors whined him out.  His results...

I like three of the points made here best.  Housing prices have been increasing faster than incomes, the sub-prime market has never been tested in a down housing market and if the market becomes an auction market, prices can fall sharply.  I think these are the keys to further price and...

Arizona has now surpassed Nevada as the fastest growing state in the country.  This growth will continue and eventually turn current residential market conditions around.