| IN THE October
14, 2009 ISSUE |
Business Investment Is Critical to Reversing Tide of Job Losses,
Says Leading Georgia Economist
Job growth nationally will be “non-existent” until the
second half of 2010, followed by a gradual but weak recovery, predicts
Georgia State University economist Dr. Rajeev Dhawan, who adds that a
lack of business investment is at the root of the employment crisis.
Meanwhile, the fallout from the meltdown of the financial system last
September punctuated by the collapse of Lehman Brothers is not over,
warns Dhawan. The $64,000 question is how the toxic, or underperforming,
assets on the balance sheets of banks are going to be cleaned up.
“That is the key. Everything else is a supporting character, a
supporting cast. The solution is not easy.”
Foreign Investment in U.S. Property Revives after Bad
Fall
Foreign investment in the U.S. is showing signs of life
again after a deep plunge earlier this year. Globally, the U.S. has been
hardest hit by a deep spending decline, according to a new report by
Chicago-based Jones Lang LaSalle’s International Capital Group.
For the first half of 2009, U.S. commercial real estate transactions by
overseas investors fell a stunning 77% year-over-year to $14 billion.
Japan was the most active international market during the period with
$15 billion in commercial real estate investment. The United Kingdom was
third after the U.S., with $11 billion.
Private Equity Real Estate Fundraising Lowest Since
2003
A total of 17 private equity real estate funds worldwide
raised $4.9 billion in third quarter 2009, the lowest fundraising total
for a quarter since the third quarter of 2003, when 17 funds raised $3.2
billion, reports London-based research firm Preqin. The figures for the
third quarter also represent a significant fall from earlier in the
year. The third quarter 2009 equates to 48% of the total raised in
second quarter of 2009.
The decline from the same quarter in 2008, however, is even more
dramatic— 2009 fundraising represents just 12% of the $40.5 billion,
which was raised in the third quarter of 2008.
Annual Green Building Survey, Final Chance to Win Gift
Card
This year the U.S. Green Building Council is partnering
with National Real Estate Investor magazine to conduct the third annual
green building study that focuses solely on commercial real estate. As
an industry professional, your input is invaluable to help distill
important trends in the development and use of green buildings — now
and in the future.
Your answers will be kept completely confidential and used only in
tabulation with others. As an added incentive, you will be given the
opportunity to win a $100 Visa gift card. Use the link below to access
the survey.
If you’re a developer, click
here.
If you’re a corporate user, click
here.
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