CoStar Drills for Data, Uncovers Gold
Mine
If there’s one lesson that the long, harrowing months of
recession and financial crisis have taught, it’s that in a global
downturn there are few safe harbors. Stocks, bonds, and commercial real
estate can all suffer brutal declines in value.
But there is a commodity that throughout the downturn has demonstrated
powerful economic value — information. And one company that has
harnessed commercial real estate data to great advantage is Bethesda,
Md.-based CoStar Group.
CoStar has developed an exhaustive database of commercial real estate
listings across the United States and United Kingdom, reporting at least
1.3 million offerings on its Web site. At a time when many companies are
shrinking or falling into bankruptcy, CoStar is growing, and now boasts
1,400 employees.
Apartment Renters Shy Away From Online
Payments
Old habit die hard among apartment renters, a new research
report by the Washington, D.C.-based National Multi Housing Council
(NMHC) shows.
Although the nation’s big apartment firms spend significant sums
investing in online and automated rent payment systems, most renters
prefer to deliver a check to their property office each month, the
report shows.
The survey of 110 leading apartment firms reveals that 74% of firms now
allow renters to use a credit card to pay rent. Altogether, 81% of firms
let renters pay online with either a credit card or bank transfer, but
only 18% of renters make their payments through those
methods.
AMB Index Forecasts Improvement in Industrial
Sector
AMB Property Corp. has rolled out an index that uses
economic information and customers’ input to measure and forecast
industrial real estate demand and business activity.
Called the AMB Industrial Business Indicator (AMB IBI) it extends the
real estate investment trust’s commitment to collecting data from a
geographically diverse set of customers.
The latest diffusion index suggests that economic recovery began in the
industrial sector in February and that business activity expanded in
September and October. According to the index findings, the volume of
container traffic will continue to improve. Positive net industrial
absorption is forecast for 2010.
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