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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…

For much of the year, commercial real estate held its own as the residential sector slid into despair. However, recent signs indicate commercial might be hitting a rough patch: And it’s starting at the epicenter of American excess–the shopping mall. According to commercial real estate market research firm Reis Inc., the vacancy rate at shopping centers whose main resident was a big-box retailer or supermarket hit its highest level in 2007 in four years, Financial Week reports. Like so many aspects of the housing decline, the rising commercial vacancies were something we probably should have seen coming. As the housing…

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…

For the past year, Canada’s housing market has been steadily rising. Prices for condos, two-story properties and detached bungalows all rose more than 11 percent last quarter from 2006, according to a Royal LePage Real Estate Services report released this week. The Canadian real estate company, which has more than 600 locations in the country, said the fourth quarter saw large housing gains, The National Post reports. "The fourth quarter 2007 was surprisingly strong with unseasonably high price increases and unwavering demand," Royal LePage CEO Phil Soper said. In addition, the Toronto Real Estate Board said 2007 was its best…

We all know green building is hot–according to a McGraw Hill Construction study, the volume of green real estate is going to quintuple by 2010. It’s predicted to then be 10 percent of the U.S. building stock. But just saying your multifamily complex or community of homes is green isn’t enough. Today’s consumers are looking for highly-efficient, economical homes, and they’re more educated than ever about what that entails. So to sell a green home, you need to think green: And that means involving the homes’ ecological aspects in all your marketing and promotional materials and events. A recent article…

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…

The New Year kicked off to a bleak start with news that U.S. manufacturing fell for the first time in 10 months in December, hitting its lowest point since 2003, according to a report released today by the Institute for Supply Management. The private research group’s manufacturing index–which The New York Times says is considered a leading indicator of recession– fell from 50.8 in October to 47.7 in November. Readings over 50 indicate growth. Stocks fell almost immediately when the report was released. The good news: For once, the disappointing report isn’t about housing! The bad news: Well, it actually…