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Global Real Estate

U.S. Bank hires Rex Rudy as head Commercial Real Estate Division

Veteran Rex Rudy who has more than 20years of experience in the industry has been hired by U.S. Bank to head its commercial real estate division, succeeding Joe Hoesley, who retired in March. Rudy most recently serves as managing director and group head of real estate investment trust (REIT) finance at Wells Fargo. Rex is an experienced commercial real estate ...

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Massive housing problem in North Wexford, Ireland

While the members welcomed the county allocation of €25 million for social housing Cllr Mary Farrell wondered about the possibility of housing for those with disabilities. Housing officer Noreen Cummins said the council had been inundated with requests from people and said the council is currently prioritizing its housing lists. Cllr Farrell also wondered if there were any way that ...

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New Zealand Housing takes firm stance on methamphetamine

Housing New Zealand takes a firm stance on those who use or manufacture methamphetamine in its homes. During 2014, 101 Housing New Zealand properties were found to be contaminated with methamphetamine. This represents 0.15 percent of Housing New Zealand’s portfolio of around 68,000 homes. Marcus Bosch, General Manager Property Services, says, “The vast majority of Housing New Zealand tenants are ...

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New York City construction spending jumped 26 percent last year

new york

New York City construction spending jumped 26 percent last year to $36 billion, led by a record amount of residential building in a market skewed toward luxury housing, according to the New York Building Congress. Spending on residential construction surged 73 percent to $11.9 billion in 2014, exceeding an October forecast and marking the first time it has ever topped ...

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JCC experience first real estate tax hike in 2 decades

It’s the first real estate tax hike in nearly 2 decades. Homeowners in James City County (JCC) will be paying more in real estate tax starting July 1. At Tuesday night’s council meeting, the board voted 4-1 to increase the real estate tax rate by seven cents. This puts it at 84 cents per $100 assessed value. That is a nine ...

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Real Estate in for soft landing

The commercial and residential real estate markets are coming off their peaks, but expect a soft landing. “We are clearly off our peak,” said David Dube, president and CEO of Concorde Group of Companies. “But that is healthy. Markets do not go up forever. This is a temporary adjustment.” Dube, who chaired the third annual Saskatchewan Real Estate Forum held ...

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Housing crisis in the UK ‘in breach of human rights

A consortium of leading housing charities has warned that the UK is in breach of its own United Nations human rights commitment to provide people with adequate homes because the housing crisis is so serious. They cite soaring housing rental costs, unhealthy conditions in homes, and rising levels of homelessness and warn of “profound issues of lack of supply, increasing ...

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Blackstone CEO calls Real Estate “good risk”

Blackstone Group LP’s chief executive officer, Steve Schwarzman, said buying real estate, financing energy companies and buying floating-rate fixed income instruments are all “a good place to be.” “In terms of taking risk today, there are a variety of different places,” Schwarzman said in a Bloomberg Television interview Monday at the Milken Institute Global Conference in Beverly Hills, California. Blackstone, ...

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Real Estate about to get hit in the energy cities

A new report has found that Prime office real estate in some of the world’s leading cities is about to take a hit from the falling price of oil. The report, released this month by property specialists DTZ, has identified 18 key “energy cities” around the world where unemployment will rise and office rental prices will fall as energy companies ...

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Xenophobic attack to affect foreign investment in SA’s property market

As affordability levels in South Africa have deteriorated in the recent years, developers from South Africa are eyeing real estate markets in neighboring countries.  However, Xenophobic attacks in Durban recently may also deter foreign investment in South Africa’s property markets in the short term, if not the long term, experts believe. A fast-growing population is the key reason why international ...

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