In case you missed it: Fiscal cliff deal and New Year’s predictions
Jan 4, 2013
Happy New Year! Here’s hoping 2013 brings increased development and investment activity and a healthy, robust commercial real estate market. As everyone gets back into the swing of things after the holiday break, here are the stories that you might have missed this week:
CNN: “Obama Signs Bill Warding Off Fiscal Cliff”
It was difficult to miss this particular piece of news, but President Obama signed a bill into law to pull the U.S. back from the fiscal cliff. Click over to CNN to watch a video on the news or skim the highlights of the bill.
New York Daily News: “City Apartment Market Hit Year-End Fever As Fiscal Cliff Fears Approached”
Worry over the fiscal cliff added further fuel to the fire for the most active sector of commercial real estate: multifamily properties. According to Phyllis Furman at the New York Daily News, apartment sales spiked (as much as 40 percent) in the fourth quarter of 2012, as apartment owners tried to offload their properties before an increase in tax rates. Head over to the New York Daily News to read more about this surge in sales.
CNBC: “‘Fiscal Cliff’ Deal Favors Housing Recovery”
While the apartment market was active before the fiscal cliff deal, look for the single-family housing market to start heating up after it. In constructing the deal, Congress didn’t alter the mortgage interest deduction and extended tax relief on mortgage debt forgiveness. For a full list of benefits to homeowners, hop over to CNBC.
CoStar: “12 CRE Predictions For 2013”
Mark Heschmeyer at CoStar detailed his top 13 predictions for the coming year. Topics covered include the investment market, acquisitions and dispositions, REITs, e-commerce, growing markets, and other topics. Click through to CoStar to see what might be in store in the coming months.
What do you think will be the biggest trend in commercial real estate in 2013?