It’s a new year, which always prompts reflection about the year before–which may explain the recent abundance of "state of the housing market" news articles. While some contain things we’ve heard before–the industry is down, the end of the slump is unclear–a few articles paint an interesting picture of the housing decline’s status–and the echo effect it’s having on other parts of the economy. Two notable picks: From Mortgages to Other Meltdowns: The focus on the U.S. mortgage industry’s questionable lending standards–which secured loans for many homeowners who couldn’t afford them–prompted industry-wide reform last year; and now, according to an…

Breaking news: Both President Bush and Federal Reserve Chairman Ben Bernanke today gave support for an economic stimulus plan to prevent the U.S. from sliding into a recession, MSNBC reports. Embarrassingly old news: The country desperately needs an economic injection–and has for quite some time. It looks like we’ll be getting it–through a rate cut that seems to be almost a done deal and a to-be-determined governmental package. Bernanke "again pledged to aggressively slash a key interest rate as needed to bolster an economy that is weakening under the strains of a severe housing slump and credit crisis," according to…

Several prominent building organizations are trying to encourage green building and design–but is green building already a big focus for today’s builders? Or are the promotional efforts not even close to enough? The current level of green design chatter is more than we had a year ago, that’s for sure. And it’s what the industry wanted: Just look at the reaction to the U.S. Green Building Council (USGBC) LEED for Homes  guidelines. In early December, the USGBC released the final version of its green housing design framework, opening up a whole new sustainable world. For years, LEED procedures have served…

New home sales fell to a 12-year low in November, a statistic that strikes fear in some–and makes others start salivating. A number of investors and homebuyers have been waiting for prices to bottom out so they can start snatching up deals. But before we all get ready to circle foreclosed and discounted properties like sharks hunting for chum, consider that housing busts don’t always bring housing bargains. Home prices had more than doubled by the end of 2006, The Wall Street Journal reported recently; an eventual correction was likely almost impossible to avoid. And yet, those big bargains some…

Friday’s blog touched on commercial real estate and the shopping center conundrum: Too many new stores and too little consumer spending. But, as it turns out, malls aren’t the only commercial buildings suffering from the economic slowdown. Enter: The waning workplace. Yes, that’s right, the office has become more than just a clever NBC comedy–it’s a commercial real estate crisis, according to some sources. Retail centers in areas that saw some of the largest housing boom price and property increases–and some of the decline’s biggest drops–have fallen on particularly hard times. Office space isn’t fairing any better. California Dreamin’ (Of…

Speaking today for the first time since the Fed’s last meeting, Federal Reserve Chairman Ben Bernanke implied a further rate cut might be en route. U.S. stocks bounced up midday Thursday on anticipation Bernanke’s comments would suggest more rate cuts–but stocks faltered after the actual remarks were made as investors struggled to interpret what they meant, according to MarketWatch. To be fair, Bernanke’s comments were–as usual–a little vague. In a speech to the Women in Housing and Finance and Exchequer Club in Washington, D.C., he basically said the Fed was concerned about oil prices, housing issues and other threats to…

Las Vegas may still be reeling from the housing slump, but its economy is growing–and so is its pool of renters, according to the Las Vegas Business Press. The Business Press‘ recent article about the rental market indicates the tighter mortgage atmosphere, which has made buying less of an option for many residents, is giving multifamily rental properties a push. The Bentley Group, a Vegas-based real estate advisory firm, says the city can thank its healthy tourism trade. "Nearly 40,000 hotel rooms are coming on line over the next four years, creating more than 285,000 new jobs," Bentley Group President…

The nation’s high foreclosure rate–Irvine, Calif-based Realty Trac said in November that foreclosures were up nearly 68 percent from the same month in 2006–has led to an interesting phenomenon: Banks who are anxious to unload many of their foreclosed upon items. Some likely don’t want to invest in the properties’ upkeep; other banks possibly are acting out of fear the housing market will in fact continue downward next year, further reducing the homes’ value. That’s good news for investors who are eager to buy foreclosed properties and land and reduced homes. However, those deals might not be as much of…

Will the Fed cut rates at its January meeting? There is reason to think so. Yesterday, we analyzed new data about a decline in manufacturing last month–and today, we’re bringing it into focus along with the rest of the foggy economic factors. Yes, manufacturing dropped. But it’s important to remember yesterday’s news came from a private source–the Institute for Supply Management–and the government tends to favor its own data much more. And, luckily, there is some fresh government information, released today, that said new orders for manufactured goods increased unexpectedly in November, which bodes well for the economy. We’re not…

It’s New Year’s Eve–almost–and that means it’s time for reflections–and resolutions. We have so many memories from this year. Remember when, in September, residential building hit its lowest spending point since 2003? Or when the mortgage-related credit crisis rocked the world’s banks over the course of a few months? Or how about when the dollar became weak–and then weaker? OK, so maybe 2007 wasn’t exactly a collection of warm, fuzzy financial housing moments. But New Year’s resolutions are all about turning things around. I’m about to make mine; and I’ve drawn up five resolutions for the multifamily housing industry. Feel…