GLG News by Production Homebuilding Experts

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...

There are signs that support a growing return of cautious optimism among homebuilders. Surveys of builders, including the just reported National Association of Homebuilders/Wells Fargo Housing Market Index, show measurable improvement in their confidence level. Although this is strongest among single...

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...

Las Vegas started a new era in 2006.Traditional residential statistics presented in this article and in many others like it have overlooked a major change in the market.  That change will impact the Las Vegas residential market for the next two decades.

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. ...

When you have a median housing value of say $ 650,000 and a location where the existing housing stock approximates the median, you have an opportunity to sell attached housing at $ 350,000 to $ 400,000 per copy when the supply is otherwise constrained.

I believe there is more pain to go in the housing market including serious defaults where home and land prices will implode.  I believe you won’t see the turn until 2008 and even then not until the latter half.  And I think the turn will stabilize at a lower overall construction number since...

As the article points out, REIT stocks have doubled on average in the last three years.  No doubt that in the mid 1990’s, commercial real estate was out-of-favor – for a song prices.  But dividend yields are now at 3.78 % - negative leverage to the private exit buyers.  So REIT investors...

Brookfield has offered $ 156.25 per sq. ft. for the 48 million sq. feet in the remaining 38 shopping centers in the Mills portfolio.  Eighteen percent of the cost in cash will be paid at closing.  I believe that the deal will not return historical costs to the shareholders and reproduction...