New Cosmo Hotel Ignores Timing
The hotel in Berlin hit the ground running and Design Hotels members navigated the recession better than many industry peers.
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Midwest home sales figures reveal mixed picture (AP)
AP - In the Midwest, January home sales plummeted 37 percent from December’s figure, but sales were still up nearly 4 percent over the previous year, according to figures released Friday by the National Association of Realtors.
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Fannie Mae seeks $15.3B in gov’t aid after 4Q loss (AP)
AP - Fannie Mae needs another $15 billion in federal assistance, bringing its total to more than $75 billion. And worse, the mortgage finance company warned its losses will continue this year.
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Earnings roundup: Fannie Mae, NYMagic (AP)
AP - Among the earnings stories for Friday, Feb. 26, from AP Financial News:
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What Tanking Home Sales Mean for the Recovery (U.S. News & World Report)
U.S. News & World Report - After a big drop in December, sales of existing homes fell again in January–a development that renewed concerns about the outlook for a real estate recovery. The National Association of Realtors reported today that sales of previously owned homes fell more than 7 percent in January from the previous month. This puzzled many economists, who had expected sales to be stronger in the wake of December’s 16 percent month-over-month plunge. “This is a surprise,” Ian Shepherdson, the chief U.S. economist at High Frequency Economics, said in a report. …
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Interest rates rise on downbeat economic news (AP)
AP - BAD NEWS BONDS: Interest rates rose and Treasury prices fell after the second report in three days of a drop in home sales. The reading on one of the economy’s weakest segments reassured investors that the Federal Reserve would keep interest rates low.
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Commercial Sales Jump
The increase for a second month in a row triggers fresh debate over whether the sector has reached bottom.
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New-Home Sales At Record Low In Jan.; Bernanke Soothes (Investor’s Business Daily)
Investor’s Business Daily - New-home sales dived to a record low in January but stocks rallied as Federal Reserve chief Ben Bernanke eased concerns that the central bank will take the economy off life support too soon.
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Bernanke sees low rates amid signs of weak rebound (AP)
AP - New signs emerged Wednesday that the economic rebound is sputtering. Sales of new homes hit a record low last month. And mortgage giant Freddie Mac signaled it will need more federal aid — and might never repay it.
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Lexington Realty Trust posts 4th-quarter FFO loss (AP)
AP - Lexington Realty Trust on Wednesday posted a funds-from-operations loss for its fourth quarter, largely due to reductions in the value of some of its real estate holdings.
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