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Investment in global commercial real estate markets increased during the second quarter, led by the U.S., which increased its transaction volume by 30 percent, according to commercial real estate firm JLL, MBA NewsLink reported July 16. Worldwide CRE transactions could total $760 billion by the end of the year.
2014 was the best year for commercial real estate development since 2007, and this year is projected to be the best of the decade, the Commercial Real Estate Development Association Research Foundation reported July 8 in its report “The Economic Impacts of Commercial Real Estate.”
A drop in oil prices has been a boon for shopping center and industrial building real estate, but commercial real estate in oil-rich markets, such as Houston, have taken big hits, according to the U.S. Energy Information Administration, National Real Estate Investor reported July 13.
Ongoing volatility in the bond market caused average fixed mortgage rates to rise to new yearly highs during the past week, Freddie Mac reported July 16 in its Primary Mortgage Market Survey.
The nation’s homes have changed substantially over the past 20 years, growing larger and getting more bedrooms and bathrooms and features such as air conditioning and fireplaces, SelfStorage.com reported July 14. Of course, homes also now have substantially higher average sale prices.
There were 597,589 properties in foreclosure during the first half of the year, down 13 percent from the previous six months and down 3 percent from the same point last year, analytics firm RealtyTrac reported July 16 in its Midyear 2015 U.S. Foreclosure Market Report. Foreclosure starts were at a 10-year low.
Some areas most vulnerable to flooding are seeing an increase in population, which is causing concern over the resilience of their existing water systems in the face of greater climate pressures, investment needs and governance challenges, the nonprofit Brookings Institution reported July 14.
California lawmakers are expected to raise the state’s clean energy mandate to 50 percent by the end of the year, which will mean more big solar farms, more wind turbines and possibly more geothermal; however, the inclusion of rooftop solar installations is still hotly contested, USA Today reported July 13.
A 15-member coalition of mortgage lenders, researchers, ratings agencies and consumer advocates called on Obama administration officials to limit lawsuits against banks because they allege that ongoing litigation is keeping banks from issuing more mortgages, The Wall Street Journal reported July 15.
Consumer Financial Protection Bureau Director Richard Cordray appeared before the Senate Banking Committee July 15 where legislators expressed concern about the agency's massive data collection, its management, its lack of oversight and its overspending, HousingWire reported. The committee also lamented its current lack of power over the CFPB.
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