The Week: March 5-13 – Real Estate Matters
Development, Industry News, Real Estate Trends, Upcoming UST Events, UST Program News

The Week: March 5-13

Here is an aggregated list of the most influential stories that are shaping the conversation about the real estate industry…

From the Mortgage Bankers AssociationMBA Weekly Application Survey – The MBA index of mortgage applications has risen at an adjusted rate of 15.5% over the week prior. Furthermore, the seasonally adjusted four-week moving average of the market index is up 2.7%.

HouseholdNetWorthQ42010.nfscale

Fed Household Net Worth - from Calculated Risk

From Calculated RiskQ4 Flow of Funds: Household Real Estate assets off $6.3 trillion from peak A telling statistic that shows the current total worth of American’s homes has fallen to levels comparable to vales after the dot-com bubble. Looking into the period before this extraordinary market period, the last time housing equity equaled a similar percentage of the total GDP, a measure that controls for inflation as well as other economic changes, was 1997.

From the Bigger Pockets Blog | Real Estate by the Numbers (March 5-13)- As noted in the last post, a report from Finance & Commerce, new foreclosure filings are down across the country, and new Mortgage applications are up. This combination is good news, signaling more Americans consider their financial prospects positive enough to buy a home, and on the flip-side, less Americans are losing their investments…

From the Economist | Bricks and Slaughter– A unique editorial from the Economist, that poses serious questions about the conventional wisdom surrounding the single largest investment most citizens in rich world countries make, their homes. Looking at the issue from the perspectives of debt financing; and the intertwined nature of the economy, mortgage prices + availability, and real estates prices the create an accelerating effect on a home buyers ROI, the editors argue that serious modifications are still needed before the market can truly stabilize.

From the Star Tribune | Michael Langley: Selling the Twin Cities– Michael Langley has recently been hired by the first ever Twin Cities regional economic development group to encourage businesses to open offices, or move their headquarters to Minnesota. Mr. Langley’s most recent job involved the same focus and mission in Pittsburgh, PA. This job will not, at least initially, be easy considering Minnesota has one of the highest corporate tax rates of any state. That said, this seems like a long overdue project, because as those of us who are fortunate enough to call Minnesota home, know that the quality of life and opportunities available present a very attractive value proposition.

One final note: On Tuesday, UST will host Andy Deckas, President of Founders Properties, as part of the ongoing Real Estate Insight Series. He will be speaking on investment strategies and opportunities in the  commercial real estate market. This should be a fascinating lecture, and as always, it is free and open to the public.

Details:

Speaker: Andy Deckas
Topic: Commercial Real Estate Investment In a Changing Market
Location: University of St. Thomas, Terrance Murphy Hall 252
Time: Tuesday, March 15th, 5:45PM

For more information visit the UST-MSRE events calendar

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