DIRS.INFO The most relevant business & tech news

☆ German housing prices show sharpest drop since 2000 year over year, statistics office says
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +2 min

Residential property prices fell by 9.9% year-on-year, the steepest decline since the start of data collection in 2000, the federal statistics office said. Prices fell by 1.5% on the quarter, with steeper declines in larger cities than in more sparsely populated areas. In cities such as Berlin, Hamburg and Munich, apartment prices fell by 9.8% and single and two-family house prices dropped by 12.6% on the year. Building permits for apartments in Germany declined 31.5% in July from a year earlier, the statistics office disclosed on Monday, as construction prices rose by almost 9% on the year. German housing industry association GdW on Friday sounded the alarm over the situation calling for government support for construction companies.

Persons: GdW, Riham Alkousaa, Klaus Lauer, Kirsti Knolle, Sharon Singleton Organizations: Reuters, Thomson Locations: Berlin, Hamburg, Munich, Germany

Five hedge funds shared five trading ideas on global property markets, adding that they cannot reveal trading positions for regulatory reasons. CM REITs are companies that own mortgages of multi-family residential homes as well as commercial real estate loans. Cell phone data Litt bought to research a REIT run by Alexandria Real Estate Equities (ARE.N), showed that buildings which that were supposed to be almost fully occupied were only half full. Alexandria Real Estate responded pointing to public filings which said that it was the advancement of science and related intellectual property in Alexandria’s Labspace buildings, and not employee foot traffic that drove its demand for space. But Litt believes that the shift away from office working will also hurt life and sciences real estate, generally.

Persons: Jonathan Mizrachi, CMBSs, David Amaryan, Ben Hunsaker, Hunsaker, Jonathan Litt, Litt, ANSON, Moez Kassam, Vistry, Kassam, Nell Mackenzie, Dhara Ranasinghe, Alison Williams Organizations: Property, Capital, Beach, Beach Point Capital Management, REITs, Alexandria Real, Reuters, Vistry, Thomson Locations: York, Russia, Russia's, Ukraine, Armenia, Beach Point, Alexandria, Alexandria’s, London, Carolina, New York

"I am worried because we are in a deep real estate crisis. And the real estate crisis needs clear, structured and downright radical steps to fix it," Mattner said. For years, Germany's property market has been seen as a safe haven, becoming a major draw for foreign investors. Recent data shows the stress the property sector is facing as the European Central Bank hikes interest rates, with little respite in sight. The fall is "catastrophic," said Andreas Beulich, head of the Federal Association of Independent Real Estate and Housing Companies.

Persons: Kai Pfaffenbach, Chancellor Olaf Scholz, Andreas Mattner, Mattner, Tim, Oliver Mueller, Mueller, Scholz, Danyal, Andreas Beulich, Mathias Duesterdick, ”, Andreas Naujoks, Simone Zapke, Emma, Victoria Farr, Matthias Inverardi, Sharon Singleton Organizations: REUTERS, German Property Federation, German Construction Industry Federation, Reuters Graphics, European Central Bank, Federal Association of Independent, Housing Companies, Centrum Group, ECB, Thomson Locations: Frankfurt, Germany, Germany's, Europe's, Kai Pfaffenbach FRANKFURT, Baden, United States, Sweden

☆ Here are stocks to own to take the debt ceiling, bond market out of your investing equation
▼ + stars: | 2023-05-21 | by ( Jim Cramer | ) www.cnbc.com time to read: +18 min

Are the travails of the bond market, like Macbeth expounds, a "tale told by an idiot, full of sound and fury, signifying nothing?" The billionaire class — so incorrectly sought after by the media — so often seems to use the bond market as a sort of intellectual cudgel. That's why I always start my discussion on bonds with the simple query of "where are the layoffs, not forget about stocks, think fixed income." Here the bond market polices only those companies that haven't pivoted to making a profit. They, among all sectors, could be pummeled by the bond market freeze and by the consumers' paralysis.

☆ Warehouse Jobs Drop to Lowest Level in 15 Months
▼ + stars: | 2023-04-07 | by ( Paul Page | ) www.wsj.com time to read: 1 min

Warehousing employment fell to the lowest level in more than a year as companies slashed payrolls amid a downturn in the goods-moving economy. U.S. employers cut 11,800 warehouse and storage jobs from February to March, according to the seasonally adjusted Labor Department preliminary jobs report released Friday. Warehousing companies have reduced employment by nearly 50,000 jobs since June, when overstocked retailers started paring inventories because of wavering consumer demand.

☆ China to guard against risks among property developers - Premier Li
▼ + stars: | 2023-03-05 | by ( ) www.reuters.com time to read: +3 min

Premier Li Keqiang made guarding against risks to top property developers one of the government's priorities this year, amid still cautious buyer sentiment, following through on the work done at a key economic meeting in December. "There are more potential risks in the real estate market and some small and medium-sized financial institutions are exposed to risks," Li said in the government's work report for 2023. "Only when consumer demand for housing is boosted can other real estate problems, including the problem of financial risks of leading housing companies, be truly resolved." Premier Li said the government would resolve housing issues for young people and support the needs of homebuyers. China will ensure developers deliver pre-sold properties and expand the supply of affordable rental housing, the planner said.

☆ U.S. services industry regains steam; factory orders accelerate
▼ + stars: | 2022-12-05 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

Economists shrugged off a survey from S&P Global confirming its services PMI was stuck in contraction territory in November. Thirteen services industries including construction, healthcare and social assistance, retail trade as well as professional, scientific and technical services reported growth last month. But information, wholesale trade and management of companies and support services reported a decline. Factory ordersIn November, the ISM's measure of services industry employment increased to 51.5 from 49.1 in October. The survey's measure of services industry supplier deliveries fell to 53.8 from 56.2 in October.

☆ November Employment Report Shows U.S. Economy Added 263,000 Jobs
▼ + stars: | 2022-12-02 | by ( Sarah Chaney Cambon | ) www.wsj.com time to read: 1 min

The U.S. economy added 263,000 jobs in November and the jobless rate remained at 3.7%, signs of continued strength in the labor market. The November payrolls gain compared with an upwardly revised 284,000 jobs in October, the Labor Department said Friday. Payrolls grew in leisure and hospitality, healthcare and government. Retailers and transportation-and-warehousing companies cut jobs in a sign of weak holiday hiring.

☆ US home sales will keep falling through 2023, Redfin says: 'Housing companies are in the jungle now'
▼ + stars: | 2022-11-10 | by ( Zahra Tayeb | James Rodriguez | ) www.businessinsider.com time to read: +4 min

Redfin said it expects home sales to keep falling through 2023, as it laid off 13% of its workforce. US housing companies are "in the jungle" now, its CEO said, as buyer demand falters. That means "housing companies are in the jungle now, but Redfin has been there before and come out stronger," Kelman said in separate press release. That would mean the number of existing home sales would drop from roughly 6.1 million in 2021 to roughly 4.3 million in the coming year. "The June layoff was a response to our expectation that we'd sell fewer houses in 2022; this layoff assumes the downturn will last at least through 2023," Kelman said in the memo.

☆ Cramer: Why tech can't find a bottom as other parts of the market show signs of life
▼ + stars: | 2022-11-06 | by ( Jim Cramer | ) www.cnbc.com time to read: +10 min

The Carvana and Zillow calls aren't resonating because the autos and housing companies have already seen their stocks crushed. At the same time, these once-thriving tech companies that saw an ever-expanding funnel somehow didn't seem to see any of this coming. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

Search resuls for: "Housing Companies"

10 mentions found