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California and Silicon Valley Unemployment Rate Numbers

September 5, 2008

Tweet Numbers today came out for the national unemployment rate, and it is no surprise that the numbers continue to rise. The national rate now stands at 6.1%, a five-year high. These numbers don’t tell us much about California and Silicon Valley, so the graph to the right and data below represent the trends for the […]

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Banks To Continue Dumping Office Space

August 28, 2008

Tweet USBanker Magazine is featuring an article in its September issue discussing the impact of the current financial turmoil on office space vacancy rates. According to the article, New York’s Independent Budget Office is forecasting roughly 60,000 total job losses stemming from the credit crunch. The CEO of New York’s GVA office has estimated that […]

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Japan Economy Slips; GDP Shrinks 2.4%

August 13, 2008

Tweet In a sign that the slowdown being felt here in the US is evolving into a global phenomenon, Japan reported that its GDP contracted by 2.4% (annualized) in the quarter ending June 30th. Japan is the world’s second largest economy and relies heavily on imported natural resources. Japan is facing a situation similar to that in […]

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San Francisco Bay Area Consumer Price Index (CPI) Up 4.7% Year over Year

August 5, 2008

Tweet For the first time since the dot-com era of 1999-2001, inflation rates in the San Francisco Bay Area have increased at more than a 4.5% annualized rate. Many tenants over the past several years have accepted CPI as the determining factor for annual rent escalations. For several years, the CPI method paid off (assuming […]

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California Unemployment Rate Up 150 Basis Points Year Over Year

August 1, 2008

Tweet The latest unemployment numbers for the state of California indicate that the rate has jumped significantly from last year. Last June, the seasonally adjusted unemployment rate in the state was 5.3%, June’s preliminary numbers are 6.9%, up a further 10 basis points from May’s 6.8%. To put in perspective the unemployment rate cycle in […]

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California Commercial Mortgage Defaults Triple; Still Very Low

August 1, 2008

Tweet The CMBA (California Mortgage Bankers Association) released its latest number. The data covered 10,794 properties and found that only 7 were delinquent beyond 30 days. The default rate, .06% is triple what it was last quarter, but still only represents a small number of properties. In August of 2007, the CMBA Index hit a […]

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Second Quarter Silicon Valley Commercial Sales Activity

July 29, 2008

Tweet Given the state of the capital markets, it is not surprising to see that the assets which traded hands during the second quarter are far smaller in size than those traded this time last year. A combination of softening rents, dimmer outlook, and a brutal capital markets environment all contributed to the low transaction […]

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NAHB/Wells Fargo’s July Housing Index Numbers Eclipse June’s All-Time Low

July 29, 2008

Tweet Last month, the NAHB (National Association of Home Builders)/Wells Fargo Housing Index reached an all time low of 18. July’s numbers were released last week, and they fell a further to points to 16. Anything north of 50 is considered good; and it is very obvious we’re very far off that mark. The outlook for […]

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RREEF Report on Commodity Prices and Impact on Real Estate

July 27, 2008

Tweet RREEF Research has issued two reports this month. The first report covers commodity prices, and the impact on trade, housing, and other real estate impacts. Some of the items related to trade which are noted in the report include: Pacific Northwest ports (i.e. Seattle, Portland, Vancouver) to benefit as the shipping distance is shorter than that […]

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Second Quarter Silicon Valley Office Space Leasing Activity

July 24, 2008

Tweet The list below represents the top lease transactions which occurred in Silicon Valley during the second quarter of 2008. Tenant Address Submarket Sq. Feet Class Blue Coat Systems 410-420 N Mary Avenue Sunnyvale        233,174 B EMC Corporation 2350 W El Camino Real Mountain View        105,143 A Symbol Technologies 6480 Via Del Oro […]

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