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Commercial Real Estate & Business News – July 10, 2013

Report: Valley-Vegas Interstate Vital for Commerce

A major interstate highway must be built between Phoenix and Las Vegas to keep up with the region’s rapid population growth and to facilitate global trade, says a report released jointly Friday by transportation officials in Arizona and Nevada. The 105-page report offered justification for constructing an Interstate 11, a multibillion dollar project to improve the link between the two metropolitan areas… Read more

U.S. Regulators Want Big Banks to Raise More Capital

Will stricter capital requirements for big banks mean fewer loans? That’s what some banking lobbyists contend after U.S. banking regulators proposed increasing the amount of equity that eight “systemically important” banks must hold against their assets in order to be considered well-capitalized. This proposed rule, which would go into effect in 2018, would require these eight banks to raise billions of dollars in additional capital… Read more

CMBS Loan Losses Rise in May

While improving market conditions and increasing investor demand for commercial real estate has mitigated much of the potential CMBS losses, the majority of loans backed by the most appealing and even marginal properties have been resold. The CMBS loans remaining tend to have properties with more “hair” on them, to use investor parlance. With the higher perceived risk for the remaining loans, prices have been lower, resulting in more losses for borrowers… Read more

ADOT Narrows Plan for Phoenix-to-Tucson Rail

Arizona transportation officials studying the feasibility of a passenger rail line between Phoenix and Tucson have narrowed the list of alternatives to three. State Department of Transportation officials said Tuesday all three alternatives would run along Interstate 10 south of Eloy… Read more

Why Home Builders Aren’t Rushing to Meet Demand

The unwavering shortage of homes for sale across metro Phoenix may trigger a throbbing migraine for Realtors and their buyers, but there’s one group you won’t hear any complaints from: home builders. Exasperated by limited choices and losing bidding wars, many buyers have been throwing their hands up and opting for a brand-new home… Read more