The annual growth rate of Irish residential mortgages turned negative in November, for the first time since 1990, according to the Central Bank on Wednesday. Non-housing personal debt fell 21 per cent.
Eurozone bank lending to industry fell again in November, the European Central Bank reported on Wednesday, underlining the fragility of the recovery in the common currency area.
Private-equity firm buys defaulted mortgage debt at half-price and then seizes the Lembi apartments, in the latest distressed-commercial-property maneuvering.
Real-estate stocks took investors on a wild ride in 2009 and ended the year with strong gains. Don’t count on so much excitement in 2010.
Despite a weak economy, cities and states continue to throw millions of dollars in tax credits and upfront cash to attract companies to relocate.
The government’s move to ease the limits on the securities holdings of Fannie Mae and Freddie Mac has ignited a debate among analysts about what the companies will do with their longer leash.
Eurozone retail sector data signalled a month-on-month rise in sales, allowing for seasonal factors. The Markit Eurozone Retail PMI (Purchasing Managers’ Index), based on a mid-month survey of more than 1,000 executives in the retail sector, rose above the neutral level of 50.0 and signalled monthly growth of sales for the first time since May 2008. The latest reading of 50.3 pointed to only a very weak increase, but was nevertheless greater than the six-year survey average of 49.0.
US home price data through October 2009, released Tuesday by Standard & Poor’s for its S&P/Case-Shiller Home Price Indices, show that the annual rate of decline of the 10-City and 20-City Composites improved compared to September and marked nine months of improved results, beginning in early 2009. Average US prices are at 2003 levels and the peak-to-trough fall in Las Vegas, is at -55.4% - - down to 2000. Also on Tuesday, US consumer confidence was reported to have risen in December.
Lenders for the Icon Brickell in Miami face a dilemma on whether to sell whole buildings or large blocks of condos to big investors, often at steep discounts, or one by one to individuals.
Paul George is among the mortgage company’s five highest-paid officers, with annual pay of up to $2.7 million.