Thursday, October 18, 2012

Morning Real Estate Fix

Housing starts highest in 4 years (Bloomberg) September's numbers give it a 872,000 annual rate, the fastest since July 2008.  But if fueled in part by historically low interest rates, will it last?

The bad news: the recovery is based on government intervention (HousingWire)  If government intervention in the housing market were to stop, the housing recovery would quickly evaporate, making the industry's recovery tied to subsidization.

What would a housing recovery look like anyway? (Washington Post)  Even in the depression like year of 1981, no quarterly results were as bad as those seen over the past 4 years.  The recovery likely won't be very strong, by historical recovery standards, but it might be just good enough to be optimistic about.

Smaller leases:  DC's new normal (Globe St.) Absent ginormous government leases, landlords are happy to chase after 20,000 s.f. users, making a virtue of necessity.


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