National
Economy Watch: Displaced Workers Lose Ground, Even After Finding New Jobs
The Bureau of Labor Statistics reported in its biennial Displaced Workers Summary, which tracks workers who lost jobs that they held for more than three years, that 6.1 million workers were displaced from such long-held positions during the period from January 2009 through December 2011.
TODAY'S DEALS: SL Green to Develop Manhattan Dorm Tower
SL Green led JV to build a dorm in Manhattan; Beech Street Capital provides $33 million in Fannie loans to two Baltimore-area assets; and Colliers International represents the buyers and sellers in the $7.7 million sale of an apartment property in San Diego.
Economy Watch: New Home Sales Edge Up
New home sales were up in July to an annualized rate of 372,000 units, compared with a revised June total of 359,000, according to the Census Bureau.
TODAY'S DEALS: ZOM, Northwestern Mutual Break Ground in Florida
A joint venture breaks ground in Palm Beach County; Greystone Funding Corp. originates $73.7 million for two affordable assets in New York; and Alliant Capital converts the interest rate of a $5.86 million ARM to 3.99 percent.
Economy Watch: Existing Home Sales Edge Up in July
According to the National Association of Realtors, total U.S. existing-home sales grew 2.3 percent to an annualized rate of 4.47 million in July from 4.37 million in June, coming in at 10.4 percent above the 4.05 million-unit rate in July 2011.
TODAY'S DEALS: Waterton Associates Re-Enters Phoenix With 576-Unit Purchase
Waterton Associates buys a Phoenix asset; EdR breaks ground on Phase II at Mansfield University; and Centerline Capital Group provides a FHA 223(a)(7) refinance mortgage to replace an existing 221(d)(4) loan and lower interest rate.
Economy Watch: European Rumors Move European Market
The European Central Bank has been the subject of a new wave of speculation and news reports in recent days, to the effect that the sort-of central bank for the euro-zone will begin buying bonds of the currency bloc’s weaker nations to prevent a zone meltdown.
TODAY'S DEALS: PCCP Provides $30M for Delaware Recap
PCCP provides $30 million for the recapitalization of a 214-unit asset; Fountain Residential breaks ground near Texas Christian University; and NorthMarq Capital arranges a $25.39 million Freddie Mac mortgage.
Acoustic Ceiling Panels Enhance Your Amenity Package
While sound proofing is a definite must inside units, there are certain applications where it makes sense to provide an environment with enhanced acoustics. Media rooms, business centers, lobbies and clubhouses can all benefit from better environmental acoustics, and CertainTeed has just what you need.
Economy Watch: Hindsight on the Housing Bubble From the Fed
The “House Prices, Credit Growth, and Excess Volatility: Implications for Monetary and Macroprudential Policy,” which was released by the Federal Reserve on Monday, posits that the best way to prevent future housing bubbles would be to require lenders to be tougher in enforcing loan-to-income ratios for borrower.