| The daily source on REITs and real estate investment |  |
- Unemployment falls in 41 states, government says
U.S. joblessness declined in most states last month, the Bureau of Labor Statistics said. Unemployment fell in 41 states, rose in six states and remained unchanged in three, the agency said. Employers in California are putting new workers on their payrolls at a rate ahead of the national average. CNBC
(10/19)     
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- Basel Committee will take a close look at securitization
The Basel Committee on Banking Supervision plans a review of how securitization is regulated, said Secretary-General Wayne Byres. "What will come out before the end of the year will be more a concept paper than a detailed set of rules," he said. "It'll pose some questions." Bloomberg
(10/22)
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- U.S. stocks outperform every other major asset class
For the first time since 1995, U.S. stocks are outpacing all other major asset classes, including corporate bonds, Treasurys and commodities. "We see good earnings growth and improving economic outlook, we see good equity valuations and easy monetary policy, we see skeptical investors and low positioning in equity assets," said Max King of Investec Asset Management. "This is a major green light for equities and the fact that people don't see it is great." Bloomberg
(10/22)
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Excel acquires Richmond, Va., mixed-use project for $161 million: San Diego REIT Excel has acquired a mixed-use development in the Richmond, Va., area for $161 million. West Broad Village is a 386,000-square-foot retail, commercial and residential development. The acquisition did not include the 135-room Aloft hotel that is also located there. RichmondBizSense.com (Va.)
(10/22)
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