The stocks of New York-centric commercial REITs have been big winners as the economy improves. In the last 12 months, Vornado Realty Trust (VNO) has jumped by 60%; Boston Properties (BXP) gained around 60%; And SL Green (SLG) climbed by 180%. See the full article and a growth chart — Read more…
economy
Press Release
The Commercial Association of REALTORS® – New Mexico is a professional trade association with over 400 members who are dedicated to serving commercial real estate consumers with all best practices. Our industry is ever-evolving with new technologies, new valuation and financing methods, new regulations, legislative and judicial decisions that affect our practice including documentary processes, changes in our Code of Ethics and changes in the economy to mention a few. By keeping our members abreast of these elements, it is our hope ultimately that our members do a better job of serving the commercial real estate consumer.
Many of our members and some consumers have inquired recently about the allegations involving Douglas Vaughan. We want all to know that we are monitoring the situation and at the appropriate time will provide an appropriate response. In the meantime, we regret the harm that has been done to the many investors involved in these allegations. Many have been hurt by this situation, including many REALTORS®. It is our hope that this situation is resolved quickly and the public will find it possible to continue trusting our many commercial REALTOR® members who strive each day to meet their needs in a professional manner.
By Year End — Half Commercial Mortgages Underwater
That’s what Elizabeth Warren, chair of the TARP Congressional Oversight Panel said last Monday. ‘œThese loans are concentrated in the mid-sized banks,’ Warren told CNBC. ‘œWe now have 2,988 banks’”mostly midsized, that have dangerous concentrations in commercial real estate lending. As a result, the economy will face another very serious problem — to be resolved over the next three years… [and] things are unlikely to return to normalcy in 2010.”
For more information, click here
Charles McMillan, Immediate Past President of NAR Testifies Before Congress
Passage of an appropriate comprehensive national disaster policy is a top legislative priority for REALTORS® nationwide. Charles McMillian testified on March 10 before the Committee on Financial Services and offered that NAR stands ready to work with leadership in Congress to develop a responsible natural disaster policy that addresses the needs of consumers, the economy and the nation. McMillian included commercial member reports about problems with commercial insurance availability and affordability. For the full testimony – Read more…
