Foreign investors plan to spend significantly more money on U.S. real estate in 2009 than they did last year.
Last year was among the worst ever in the history of hedge funds, with $210 billion in losses during the third quarter alone, 693 funds closed through Sept. 30 and an average 16% decline through November.
Union Bancaire Privée is threatening to pull billions of dollars of assets from some of the largest U.S. hedge funds, according to a spokesman for the Geneva bank.
Hedge funds suffered another body blow in December when, according to one index, the S&P 500 stock index outperformed the alternative class strategies.
Real estate investment trusts wrapped up 2008 with negative returns, including dividends, of 37.3% on average.
The latest data, released today by the National Association of Realtors in Washington, shows the Pending Home Sales Index, which tracks contracts signed, fell to its lowest level since the trade group began tracking the stats in 2001.
Commercial real estate is heading into its worst year since the industry's crash of 1991-92 and likely won't see a significant rebound until 2011 at the earliest, according to industry experts.
By some measures, 2008 was one of the darkest periods in the history of the hedge fund industry.
The volume of residential mortgage applications was essentially unchanged for the week ended Dec. 26, even as the interest rates charged on mortgages continued to decline, according to data from the Mortgage Bankers Association of Washington.
Hedge fund GLG Partners yesterday announced that it will temporarily stop paying a quarterly dividend.
Home prices in the 20 largest U.S. cities fell 18% in October, a record year-over-year decline.
IndyMac Bancorp Inc. is close to being sold to a consortium of private-equity and hedge fund firms in a deal that will be partially financed by the federal government, people involved with the deal told The New York Times.
Rising unemployment and volatility in the stock market continued to pull down the troubled housing market as sales of existing homes tumbled 10.6% in November from the same period a year earlier.
Apartment real estate investment trusts, which have been outperforming many of their real estate peers in 2008, are expected to take a hit in 2009 as rising unemployment will likely cause both demand and rents to decline.
Hedge fund liquidations outpaced hedge fund launches during the third quarter, offering more solid evidence that the weakened state of the global economy is taking its toll on the $1.6 trillion hedge fund industry.
Homebuilder Lennar Corp. posted a loss in its fiscal fourth quarter that was significantly smaller than last year’s record loss, but executives at the Miami company have yet to see signs that the troubled housing industry has bottomed.
The Managed Funds Association, the Washington-based organization that represents the hedge fund industry, announced its support for Mary Schapiro as the new head of the Securities and Exchange Commission and Gary Gensler, who will head-up the Commodity Futures Trading Commission.
JPMorgan Chase & Co. analyst Andrew Wessel has raised earnings estimates and price targets on several mortgage real estate investment trusts in the wake of the Fed’s latest rate cut.
Real estate valuations are expected to fall next year, with the low point in the cycle expected in 2010, according to LaSalle Investment Management’s Investment Strategy Annual, a comprehensive survey of global real estate markets.
