CRE News & Reading: Week of 8/10 – 8/14
Surging CRE prices have raised concerns, captured by the WSJ in a lengthy story about the possibility of a CRE bubble. In other news, several international retailers are developing a strong footing in the US, and Three World Trade just got a little shorter.
- Surge in CRE prices stirs bubble worries
Rising prices are good. But, some worry that prices are too good for CRE. According to Real Capital, $225.1 billion worth of transactions were completed in 1H’15, a 37% increase from the same period last year. These high property values, boosted by low interest rates and a surge of investment into the industry, may be unsustainable.
- What do July’s job numbers mean for CRE?
Many suspect that the 215,000 jobs created in July may be just enough to give the Fed the confidence to raise interest rates in September. Although some are carefully watching the rate hikes, and what it means for CRE, economists don’t seem too worried. Some are even more focused on the fact that demand for office space should continue rising.
- DC’s top 10 real estate dynasties
Apparently DC is home to more than political dynasties. Bisnow took a look at the top 10 real estate dynasties in DC, their origins, and what makes them famous. Unlike the NYC version of this list, several of these dynasties began in the aftermath of World War II.
- Five international retailers to keep an eye on
Don’t get your Christmas shopping done too early. You might miss out on these international retailers that are spreading like wildfire in the United States. How many can you guess? We’ll give you a hint: two are from Japan.
- Three World Trade Center gets height cut
The building at 175 Greenwich Street, aka Three World Trade, will be shorter than originally anticipated. News broke this week that the height has been reduced from 1,168 feet down to 1,079 feet. But, the truth is not as scandalous as it seems: the building will not longer have any spires — the building itself is the same height. Either way, these renderings have us excited to continue exploring downtown Manhattan.