Overbuilding Raleigh, Long Island could be the new Silicon Valley, and the fall of Fannie Mae and Freddie Mac
Aug 9, 2013
Here are the news stories you may have missed this week:
Multifamily Executive: The dirty word: “Overbuilt” markets possibly loom on the horizon
The Raleigh-Durham area was one of the first to emerge from the recession with signs of positive economic growth, but now accelerated real estate development may be outpacing demand. Optimistic builders and aggressive multifamily developers started building in the region at the first signs of growth, increasing the market’s inventory by 7.7%. Now, the market shows signs of slowing, leaving experts to wonder if the area’s been overbuilt. Learn more about what regions may soon follow in Raleigh’s footsteps at MultifamilyExecutive.com.
The Wall Street Journal: Long Island hopes new moves spark technology start-ups
Long Island could be one step closer to its goal of becoming the newest hub for technology innovation. Canon U.S.A. expressed interest in adding a research and development plant on the island that could be the catalyst the island needs to attract more information technology startups. Read more about the island’s innovation-based economic development at WSJ.com.
REIT.com: July REIT performance tied to interest rates, analysts say
REITs lagged behind broader markets for the third consecutive month, even though U.S. equity REIT stocks were up 6.7% for the year in July. Analysts blame this trend on the rise in interest rates, which may be leaving some investors cold on REIT stocks. Find out why some analysts say the stock market may be reacting inappropriately to rising interest rates, and what it might mean for the economy at REIT.com.
The White House: Fact Sheet: A better bargain for the Middle Class: Housing
In a speech on Monday, President Obama laid out the steps he believes necessary to restore security to homeownership. According to the White House, these steps, which include the disassembly of Fanny Mae and Freddie Mac, will cut red tape, increase home values, rebuild the communities hardest hit from the bubble-and-bust crisis, and ensure decent and affordable housing options for renters. Find the full outline of the proposed housing plan at Whitehouse.gov.
Posted by: Raymond T. Cirz