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California Unemployment Rate Hovers at 12.4%

January 22, 2010

Tweet Unemployment in California is sitting pretty steady, and now sits at 12.4%. December of 2008, the unemployment rate was a 8.7%. The job market continued to be extremely weak, with 80% of the states reporting an increase in unemployment. The biggest sectors to lose jobs over the past twelve months are: Construction, down 16.1% […]

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McKinsey: CRE in Spain, US, UK at Highest Risk of Deleveraging

January 20, 2010

Tweet McKinsey has put out a quick and dirty read entitled “Debt and Deleveraging: The Global Credit Bubble and Its Consequences”. In it, they detail how current leverage within the financial system compares to historic numbers and the massive run-up that occurred during the majority of this decade. The entire report can be accessed by […]

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Rosen on the Housing, Mortgage, and CRE Markets

January 20, 2010

Tweet Kenneth Rosen, Chairman of the Fisher Center at UC Berkeley recently provided his take to the FCIC (Financial Crisis Inquiry Commission) on the current state of the market as it relates to housing, mortgages, and commercial real estate, as well as policy remarks on moving forward from here. The entire document is embedded below, […]

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Real Estate Receivers Explained

January 15, 2010

Tweet Generally speaking, receivers are basically individuals or firms which are court-approved to preserve the value of an asset after there is a default. There is a major upsurge in receiverships as a result of the crisis, and most of the major CRE firms have either revived or setup service lines to service the loan […]

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S&P Cuts California Bond Ratings

January 14, 2010

Tweet California’s situation is getting worse, and S&P has taken notice by dropping its bond ratings for the second time in a year. California now has to spend more money on interest for any bonds it issues, exacerbating the budget crisis in the state and putting more pressure on the government to raise taxes at […]

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CPS Joining Cassidy Turley

January 14, 2010

Tweet In another bit of exciting local news, Santa Clara-based brokerage company CPS has announced that it will be merging with Cassidy Turley. This news comes on the heels of NAI BT announcing last week that they would join Cassidy Turley. From their press release: CPS is embarking on a change that will set us […]

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RREEF Marks Up 2009 Commercial Real Estate Outlook

January 12, 2010

Tweet For the past few years, RREEF has revisited its commercial real estate outlook at the end of the year by marking up the document. It’s nice to see this type of self-deprecating research. Like last year, RREEF was a bit too bullish and underestimated how much values and employment would fall. The report can […]

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Positive Signs in Venture Capital

January 7, 2010

Tweet The National Venture Capital Association put out its fourth quarter numbers for venture-backed exits. After suffering somewhat of a dry spell earlier this year, things are starting to turn up, with increased M&A activity and IPO activity. This is the metric to watch as venture capitalists need exits to recap and continue funding. Companies […]

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Apartment Vacancy At 30-Year High; San Jose Leads Rent Declines

January 7, 2010

Tweet REIS put out data yesterday which pegs the vacancy rate for US apartments at a 30-year high. The vacancy rates now stand at roughly 8% according to REIS data. Rents fell 3% last year, according to Reis, led by declines in San Jose, Calif., Seattle, San Francisco and other cities that had brisk growth […]

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Grubb & Ellis Releases Annual Forecast

January 6, 2010

Tweet Grubb & Ellis has released its annual forecast for 2010. Long story short, recovery won’t arrive until 2011. Here is the summary of the forecast for the various sectors: Investment Sales – Commercial Real Estate Investment Transaction Volume to Grow in 2010 Office – Vacancy Rates Will Reach Modern-Day Record Industrial – Recovery in […]

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