Commercial Real Estate & Business News – August 14, 2013

The Road Ahead for Fannie and Freddie

The likely fate of Fannie Mae, Freddie Mac and much of the multifamily lending business became much clearer on Tuesday, when President Obama endorsed a reform plan already underway in the U.S. Senate. “Right now there’s a bipartisan group of senators working to end Fannie and Freddie as we know them. And I support these kinds of reform efforts,” said President Obama, speaking in Phoenix, Ariz… Read more

Retail Sales up, but Rising Interest Rates Could Slow Autos, Housing

Retail and food services sales were up 0.2 percent in July, despite a decline in automobile sales. That’s according to the U.S. Census Bureau, which notes that retail sales are up 5.2 percent this year compared with the same time a year ago… Read more

Developer’s Western Vision is Rising in Cave Creek

Colin “T.C.” Thorstenson visions Cave Creek as a mecca for Western entertainment. Over the years, the Wild West entertainer has turned some of his focus to developing two prime pieces of real estate in the heart of the town’s commercial core – with mixed results. He has a couple of projects on the horizon, most recently a Western-theme restaurant and bar… Read more

Big-Box Distribution Fuels Industrial Demand

Demand for big-box distribution facilities has investors thinking outside the box so far in 2013. E-commerce companies, home goods, food suppliers, and fulfillment centers join the traditional ranks of third-party logistic services and freight forwarders in fueling industrial demand… Read more

Housing Affordability Drops to Lowest Level in More than Four Years

There’s a down side to the housing market’s recovery: More people now can’t afford to buy a house. Only 69.3 percent of new and existing homes sold in the second quarter of 2013 were affordable to households with the U.S. median income of $64,400… Read more