GLG News by Land Brokerage Experts (California)

  The NAHB's monthly survey of home building communities trended down again this month, after increasing over the last several months. The beleaguered Midwest showed some improvement, but remained that worst region in the country. The West also improved slightly this month. Nationally, the Housing...

A glut of 800,000 excess vacant homes will prolong the recovery for approximately one year. The recent surge in resale listings and completed new homes offered for sale includes a record level of unoccupied homes. The surge is both the result of investor activity earlier this decade as well as the result...

The mortgage market will benefit from: 1.  A new sub-prime industry with an equity requirement for buyers; 2.  The resurgence of the FHA; 3.  Attractive lender financing for foreclosed property.

Here’s what the future holds: 1.  Accelerated foreclosures/deeds in lieu/short sales leading to record inventories of unsold houses and for-sale pricing crashes nationwide; 2.  The inability of home builders, land developers and leveraged land investors/speculators to hold their positions...

 The evidence piled up last week to support: 1.  The premise that housing prices will plummet as foreclosures rise, loans to facilitate housing purchases will become more dear as to terms if not cost and affordability is stretched further by energy, food and healthcare costs; 2. ...

The contention of interest proposed here is that single women are generally interested in purchasing a home and that the home of choice is most often a smaller and more affordable unit.  OK, so I added the more affordable part, but I think you’ll grant me the inclusion.  A lot of attention...

The results of all this will be an implosion of prices in most markets.  I can make a case for New York City and Washington D.C., but the affordability there is so low that I think I’d be wrong to make the point.  Last year I was momentarily high on Las Vegas and I was wrong, so I’m reluctant...

This deal and its successors are the beginnings of the next trend in the office building market.  The underlying thought here for all the investors is that there will be quantum rent increases in the near term.  Never mind that these buildings are the repository of all the business risks of...

I continue to think that we are a minimum 18 months away from a resolution or recovery in our housing market.  And I don’t think we have reached a bottom.  We haven’t seen a glimmer of stabilization in our major home builders.  I think this will be confirmed when these companies show...

The combination of an institutional investor already at major risk in a transaction plus a professional developer/manager with a great industry record has the best opportunity for success in this turnaround.  I remember also that Simon in the past had a major investment in Mills which it withdrew. ...