Josh Boak, Ap Economics Writer Updated 11:48 am PST, Wednesday, November 14, 2018 A former dock facility is shown with old transfer bridges, with "Long Island" painted in large letters at Gantry State Park in the Long Island City section of Queens Borough in New York, Tuesday, Nov. 13, 2018. Amazon announced Tuesday it has selected the Queens neighborhood as one of two sites for its headquarters. less A former dock facility is shown with old transfer bridges, with "Long Island" painted in large letters at Gantry State Park in the Long Island City section of Queens Borough in New York, Tuesday, Nov. 13, 2018. ... more Photo: Bebeto Matthews, AP Photo: Bebeto Matthews, AP Image 1 of / 3 Caption Close Image 1 of 3 A former dock facility is shown with old transfer bridges, with … [Read more...] about Suddenly, a pair of quiet real estate markets are white-hot
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As news of Amazon's move to Northern Virginia sinks in, residents and real estate watchers are monitoring the impact the announcement will have on rent costs and sale prices. Northern Virginia realtor Jen Walker said she's already seen what's being called "the Amazon effect." Overnight, some of her potential buyers changed their minds from passing on a home to buying it. "They woke up this morning, saw the Amazon announcement and they decided they wanted to move forward with a contract," she said. "They said, 'We’re going to get priced out if we don’t do this now.'" Getting priced out is what Alex Howe fears will happen to low-income families in Northern Virginia. Howe is a member of the D.C. chapter of the Democratic Socialists of America. The group runs the website NoVa Says No to Amazon. “We’re going to see, I think, an explosion in rents and housing prices. And folks in these communities, like up the street in the Chirilagua neighborhood — developers … [Read more...] about ‘Amazon Effect’ on Real Estate Anticipated, Feared in Northern Virginia
By Ali Raza Gilani Published: November 6, 2018 0 SHARES Share Tweet Email We can fine-tune property tax laws to drive out speculative investors from the market. PHOTO: FILE The new Pakistan Tehreek-e-Insaf (PTI) government’s priority is housing. Providing five million houses would certainly pick up the economy since around 40 industries would be throttled up to meet the demands of around five million houses. This is indeed commendable. Even though the target of five million houses seems a bit far-fetched, one could argue that setting up a lofty goal would actually keep the government on its toes. Even achieving a small percentage of the mighty five million would be a relief for the homeless and relevant industries. For the purpose of land for this scheme, government is eyeing state-owned land. That is a band-aid measure which would not address the endemic problem of exorbitant rates of real estate. Speculative investors are using real estate to park their capital and … [Read more...] about Real estate, the new mafia: How can we fix Pakistan’s housing market?
In the mid-2000s, the real estate market seemed too good to be true. Historically low interest rates encouraged buyers to borrow money for their dream homes, as well as speculate on property by buying investment houses on the presumption prices would keep rising.Homeownership rates in the U.S. reached an all-time high in 2004, at almost 70 percent. That year alone, some states like California, Florida and Nevada saw house prices rise by more than 20 percent. “The worldwide rise in house prices is the biggest bubble in history,” warned The Economist in 2005, “Prepare for the economic pain when it pops.”And pop it did. Alarmed by spiraling property prices, the Federal Reserve hiked rates back up, which left many borrowers in the lurch. By 2005, the property market was beginning to wobble, thanks to increased foreclosures and falling prices. In 2007, over 1.2 million foreclosures were filed, up 42 percent from 2005.That was when the housing crisis became headline … [Read more...] about Which States Have Seen House Prices Rise Since the Real Estate Bubble Burst?
SalesRandolf-Brooks Federal Credit Union has purchased 1.7 acres in Garland at Bush Turnpike and Elliott Avenue. Paul W. Vernon with Henry S. Miller Brokerage arranged the sale with Mark Newman of JLL. An investor purchased a 35,478 square foot industrial building at 9886 Chartwell Drive in Dallas. TIG Real Estate Services Matthew Hickey and Kristin Grammar brokered the sale with Beam Real Estate.An international buyer has purchased the fully-leased 105,832 square foot Pioneer Crossing shopping center located at 2540 E. Pioneer Parkway in Arlington. CBRE's Jared Aubrey and Michael Austry brokered the sale.LeasesYRC Inc. subleased 75,793 square feet at Crosby Trade Center 200, 1215 W. Crosby Road in Carrollton. Eric Crutchfield with Stream Realty Partners negotiated the lease with Colliers International.Adonis Auto Group LLC leased 68,314 square feet of industrial space at 1908 110th Street in Grand Prairie. Corby Hodgkiss at Mercer Co. negotiated the lease.Tricon Logistics LLC leased … [Read more...] about Top D-FW commercial real estate deals for the week of Oct. 22