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UK Economic Downturn “Worst In 60 Years”

August 30, 2008

Tweet The UK chancellor responsible for economic matters in the UK has indicated that the current economic downturn in the UK is the worst the country has faced in 60 years. The article touching on details and other thoughts of Alistair Darling, the chancellor, can be read here in the Guardian.

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Swiss Bank Privacy Under Attack; Singapore Banking Likely Beneficiary

July 1, 2008

Tweet A federal judge today gave the ok for an IRS investigation to move forward against UBS, a swiss bank. The summons is fairly unprecedented as Swiss banks pride themselves on privacy. In a tax-evasion investigation, IRS is seeking information about US citizens who have not disclosed swiss bank records to the IRS. UBS is […]

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Rotating Skyscraper: Financing Provided by Bank of Hummer

June 24, 2008

Tweet   In another sign that rampant drug-use is becoming an epidemic amongst architects working in Dubai, Dr. Fisher is proposing a rotating skyscraper in Dubai, and another in Moscow, and eventually one in New York City. This building will supposedly have its floors pre-fabbed in Italy, and assembled on-site in Dubai. Estimated selling prices […]

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Holy Moscow! Check Out Those Rents!

June 24, 2008

Tweet The WSJ is reporting in their commercial real estate section today on office space in Moscow. The numbers are staggering compared with almost anything we have in the US. The average cost of “prime” space in Moscow is $223 psf per year, up 92% from the first quarter of last year when the average […]

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Credit and Equity Markets In For Massive Turmoil According to RBS

June 18, 2008

Tweet The Royal Bank of Scotland’s (RBS) chief credit strategist Bob Janjuah has issued a report to its clients to be prepared for a global credit and equity crash. Bob Janjuah forewarned against last year’s looming credit crisis. According to his report, the next three months will be nasty. The report includes warnings that the S&P could […]

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Build It And They Won’t Come…. The Story of South China Mall

June 16, 2008

Tweet South China Mall, a 7 million square feet monstrosity (the largest mall in the world), sprawled over 200 acres and built in 2005 in the southern Pearl River Delta city of Dongguan sits nearly empty. The mall was originally designed to house 1,500 tenants. There are less than a dozen. The mall was featured […]

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YoY US and International Investment Sales Down Dramatically in Q1

June 12, 2008

Tweet Though likely not surprising to anybody, year over year investment sales both in the United States and on a worldwide basis are down dramatically. According to a Jones Lang LaSalle (NYSE:JLL) report cited by NREI, first quarter investment sales in the US came in at $39.2 Billion, a number which is down 69% from […]

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