Jeffrey Spivak

Jeffrey Spivak, a senior market analyst in suburban Kansas City, Missouri, is an award-winning writer specializing in real estate development, infrastructure, and demographic trends.

Stability is slowly returning to the new-homes market. While total single-family and multi-family building permits remain on an up-and-down rollercoaster from month to month, they are on a slight upward trend for the year. Which areas of the country are seeing this the most and what does this mean for ULI members?
Initial signs of a turnaround are beginning to appear in the U.S. office market. The national office vacancy rate dropped during 2010’s third quarter for the first time since 2007. The upshot for ULI members is that the overall recovery in the U.S. office market is expected to be slow and long. Here are lists of major metros with the best year-to-date net absorption in downtown and suburban Class A office space.
Comparing September to a year earlier, unemployment rates dropped in more than half (27) of the 49 major metropolitan areas according to the Bureau of Labor Statistics. Employment is one of the key drivers of the economy and the housing market, so positive employment trends potentially hold out hope for future residential and commercial real estate activity. Read where the best job growth and unemployment improvement are.
Sales of distressed commercial properties have begun to rebound, and some entrepreneurial owners are developing alternative uses or transitional leases for empty shopping centers, foreclosed condominium complexes, vacant big-box stores, and other financially struggling properties. Read about a particular building type that has been repurposed separately as a bottling plant, a grocery store, and a church.
The California Green Building Standards Code – better known as CALGreen – will be the first state-level code to set mandatory green-building requirements. It is intended to help the state reach its 2020 greenhouse gas reduction targets and is designed to make the construction process more eco-friendly. Read about the intention and requirements of CALGreen.
The Brookings Institution think tank in Washington, D.C., characterizes an impending demographic shift in America as an “age tsunami.” The population of seniors (age 65 and over) will begin to mushroom as the leading edge of the Baby Boom generation turns 65 in 2011. Review the list of top 10 metro areas with the fastest-growing senior population and the list of top 10 metro areas with the fastest-growing population of older Boomers.
By almost any measure, housing prices across the country have been rebounding in 2010. The National Association of Realtors reported the national median price of existing single-family homes rose 1% in August after rising almost 4% during the first half of 2010. Review the list of the Top 10 highest percentage gains in existing home prices during the first half of this year.
The largest U.S. metropolitan areas continue to be home to the largest number of immigrants, with more than 1 million in places such as New York, Los Angeles, Miami and San Francisco. But the major metros with the fastest-growth immigrant populations were mostly in the southeast region of the country. Read which of the country has the metros with the fastest growing immigrant populations.
The July sales figures were worse than many analysts had expected, prompting calls for a restoration of the federal housing tax credit. Existing-home sales in July dropped 27 percent from June levels and 25 percent from July 2009. The total sales of existing homes were the lowest since the National Association of Realtors (NAR) began tracking the figure in 1999. Read what many housing experts and ULI housing council leaders want.
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