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October 26, 2012
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  Top News 
  • Initial unemployment claims decline, but 4-week average rises
    Americans applying for unemployment benefits for the first time numbered 369,000 last week, down 23,000 from the previous week's revised 392,000. The four-week rolling average, considered a more accurate picture of the labor market, reached 368,000 last week, up from 366,500 the previous week. Bloomberg (10/25) LinkedInFacebookTwitterEmail this Story
  Capital Markets 
  • Why now is a good time to try for a CRE loan
    Now is a good time to shop for a commercial real estate loan, experts interviewed by CoStar say. The sector is improving and many REO owned assets are reaching close to book value are a few of the reasons cited. CoStar Group (10/24) LinkedInFacebookTwitterEmail this Story
  Investment News 
  Real Estate Marketplace 
  • Private equity eyes single-family homes as next asset class
    Colony Capital is investing $1.5 billion in foreclosed single-family homes, along with other private equity investors such as Blackstone Group, Starwood Capital Group and Waypoint Real Estate Group. However, there are risks to this approach, which is why few debt and equity financing deals for single-family rentals by large Wall Street banks have closed. Bloomberg Businessweek (10/26) LinkedInFacebookTwitterEmail this Story
  • U.S. hotels saw improved metrics in third quarter, STR reports
    Data from STR Global show third-quarter performance by U.S. hotels improving across all key metrics, although growth in revenue per available room slowed slightly. Industrywide revPAR grew 5.1% to $72, while average daily rate increased 3.9% to $107.34 and occupancy grew 1.2% percent to 67.1% during the period. "Third-quarter revPAR growth was just over 5% -- the lowest quarterly increase the industry experienced since first quarter 2010. The slowdown in revPAR was primarily attributable to lower occupancy gains in the months of July and September," said Bobby Bowers, a senior vice president at STR. TravelPulse (10/25) LinkedInFacebookTwitterEmail this Story
  NAREIT News 
Learn more about NAREIT ->   Join NAREIT |  Policy & Politics |  NAREIT Events |  Publications

  Policy Watch 
  • 9 more major banks reportedly receive subpoenas regarding Libor
    New York Attorney General Eric Schneiderman and Connecticut Attorney General George Jepsen subpoenaed nine of the largest banks in the world as part of an inquiry into possible manipulation of the London Interbank Offered Rate, a source said. The officials reportedly are investigating Credit Suisse, Lloyds Banking Group, Bank of Tokyo-Mitsubishi UFJ, Bank of America, Societe Generale, Royal Bank of Canada, WestLB, Norinchukin Bank and Rabobank Groep. Seven other banks previously received subpoenas. Financial Times (tiered subscription model) (10/26), The Wall Street Journal (10/25) LinkedInFacebookTwitterEmail this Story
  • Study: Nearly 1 million jobs have been lost because of "fiscal cliff"
    With the "fiscal cliff" still two months away, the U.S. is already losing nearly 1 million jobs as employers lay off workers, delay purchases and leave vacant positions empty, according to a study by the National Association of Manufacturers. If Congress fails to head off spending cuts and tax hikes scheduled to take effect Jan. 1, nearly 6 million jobs will disappear through 2014 and the jobless rate will rise close to 12%, the study concluded. The Washington Post (10/25) LinkedInFacebookTwitterEmail this Story
  • Yungmann: FASB, IASB revise approach to lease accounting
    The Financial Accounting Standards Board and International Accounting Standards Board have revised their standards regarding lessors and lessees, says George Yungmann, NAREIT’s senior vice president for financial standards. The boards have concluded there are two types of leases, he said. “Both types would require that lessees report a liability on their balance sheet for their obligations under a lease, but they would change the income and expense recognition that was proposed a year ago,” Yungmann said. REIT.com (10/25) LinkedInFacebookTwitterEmail this Story
  SmartQuote 
Be a lion at home and a fox abroad."
--Persian proverb

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