When Will the Miami Condominium Market Recover? Follow the Land, Man

Spring 2009, Vol. 34, No. 1 Abstract: What does the Miami condominium market look like today? Since 2003, developers have begun construction on 22,000 condos in downtown Miami—more than double the number built during the past four decades. The result is that residential vacancies have doubled in the past year; “for sale” condominium inventory has doubled…. Read more

The Income Tax Effects of the Housing and Economic Recovery Act of 2008 on Real Estate Transactions

Spring 2009, Vol. 34, No. 1 Abstract: On July 30, 2008, President George W. Bush signed into law the Housing and Economic Recovery Act of 2008. This major piece of legislation contains (in addition to many non-tax items) several new tax provisions and amendments to the Internal Revenue Code. This article examines some of these noteworthy… Read more

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Counseling the Banks: What is the Market for Branches?

Volume 34, Number 1 Published: Spring 2009 By Bradley R. Carter, CRE, MAI, CCIM; J. Tyler Leard; and Matthew H. Jackson Photo: Kevin George/Shutterstock.com Introduction Losses are in the billions, century-old financial institutions are failing, and those that formerly lent money to the rest of us now are on government assistance; these are the darkest days… Read more

Islamic Financing and Foreclosure

Spring 2009, Vol. 34, No. 1 Abstract: Over the past several years, the United States has experienced substantial growth in a subsection of international finance sometimes called “Islamic Finance.” Currently, there are three commonly used structures of Islamic financing available to replace the traditional or conventional mortgage structure in the U.S. But because so few foreclosure… Read more

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Managing Risk in Income Property Loan Portfolios Relative Index Methodology: A Proposal to Enhance Basel II Regulations on Income Property Lending and Assess Risk Positions in Income Property Loan Portfolios

Spring 2009, Vol. 34, No. 1 Abstract: The U.S. economy experienced a unique period of real estate mortgage debt growth from 2000 through 2007. Income property investors became caught up in and benefited from it, as did commercial banks, MBS investors and other financial intermediaries. The result was the financing of a great amount of speculation… Read more

Credit Crisis has Weakened Global Property Fundamentals

Volume 34, Number 1 Published: Spring 2009 By Simon Rubinsohn A striking feature of the recent flow of macro data is how the downturn in those economies most directly affected by the credit crunch has spread across the rest of the globe. No longer is there any hiding place, even if a country’s banks have been largely untouched by the whole subprime debacle. As consumers rein in their spending and importers seek to reduce inventories,... Read More

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