Shiller: Renting could be the new status symbol | Fannie Mae introduces single-family loan-level credit performance data | Chambers Street Properties to list on NYSE
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May 1, 2013
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Home prices in U.S. jump 9.3%
Home prices in 20 major U.S. cities rose 9.3% in the 12-month period ending in February, according to the widely followed S&P/Case-Shiller Home Price Indices. That marked the biggest annual gain since May 2006. Prices are being driven up by dwindling inventories, falling unemployment, low interest rates and the fact that the proportion of houses for sale that are foreclosures is declining, analysts said. The Christian Science Monitor/The New Economy blog (4/30), Forbes (4/30), Time.com (4/30)
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Shiller: Renting could be the new status symbol
Renting may be associated with "high status lifestyle" in the future, says Robert Shiller, professor at Yale and founder of the Case-Shiller index. "It connotes mobility," he explains. This trend is apparent in Manhattan, N.Y., and may spread to other areas, he says. CNBC (4/30)
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Capital Markets
Fannie Mae introduces single-family loan-level credit performance data
Fannie Mae will offer loan-level credit performance data for more than 18 million single-family mortgages as a new service. "Transparency is a key component to encouraging private capital to reenter the housing market," said Fannie Mae's Andrew Bon Salle. GlobeSt.com (5/1)
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Investment News
Chambers Street Properties to list on NYSE
Chambers Street Properties, a non-traded REIT, plans to list on the New York Stock Exchange. "The markets are very strong right now and receiving these types of offerings pretty favorably," said Jack Cuneo, chief executive of Chambers Street Properties. InvestmentNews (free registration) (4/30)
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Another shareholder calls for CommonWealth to disband current board
Perry Corp., a hedge fund, is joining other shareholders of CommonWealth REIT to call for the removal of the REIT's board. Perry Corp. owns a 5.5% stake in the REIT. The dissatisfied shareholders say the REIT is undervalued and has poor corporate governance procedures. The Wall Street Journal/Dow Jones Newswires (4/30)
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Real Estate Marketplace
Affordable housing REIT acquires apartment in Chicago
Housing Partnership Equity Trust, a private REIT created by a nonprofit to buy affordable housing, has acquired a multifamily complex in the Chicago area for $5.2 million. It is the REIT's first acquisition. The Wall Street Journal (4/30)
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REITs eye nursing home investments with concern
Health care REITs are becoming more leery of investing in nursing homes as cuts to Medicare and Medicaid loom. REITs such as Health Care REIT and Ventas are holding back on new investments until the pricing environment becomes clear. The Wall Street Journal (4/30)
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JV sells Interchange Business Center
A joint venture of Behringer Harvard and CT Realty Investors sold an industrial asset in Southern California's Inland Empire to an undisclosed buyer. The property, the Interchange Business Center, consists of three buildings totaling 667,024 square feet. Commercial Property Executive (4/30)
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Other News
NAREIT News
REITWeek 2013 Attracts Institutional Investors and REIT Management Teams from Around the World
More than 30 countries were represented last year by attendees at REITWeek 2012. At that event, more than 160 REIT Management teams participated and more than 2,200 registered attendees were present to take part in sessions, individual company presentations and private meetings with REITs.

This year, REITWeek 2013 is being held in Chicago, and is shaping up to be an equally successful investor conference. REITWeek is a complimentary event for REIT management teams and qualified institutional investors only.  Institutional investors are invited to request an invitation to attend REITWeek by visiting www.reit.com/REITWeek2013.
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Track performance of U.S. and global real estate markets
Updated daily, the FTSE NAREIT U.S. Real Estate Index Returns and the FTSE EPRA/NAREIT Global Real Estate Index Returns provide index performance data, industry segment returns and comparisons against other major market benchmarks.
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Policy Watch
Stamnes: IRS focuses on REITs' transfer pricing
The Internal Revenue Service is stepping up its scrutiny of REIT tax issues, focusing, in the case of Plum Creek Timber, on transfer pricing, reports Paul Stamnes, the company's vice president of tax. "The IRS is really starting to focus on REITs, primarily from the taxable entities, because that’s where the tax dollars are." REIT.com (4/30)
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SmartQuote
Three grand essentials to happiness in this life are something to do, something to love, and something to hope for."
-- Joseph Addison,
British essayist, poet, playwright and politician
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