...Ashforth Pacific, the West Coast operating subsidiary of The Ashforth Company, a commercial real estate firm headquartered in Stamford, Conn., has just been purchased by Scott Langley, the subsidiary's CEO and president for the past 10 years, the firm announced Wednesday.
"The bottom line is that the world is a mess...I worry about how all of these events play together and the challenges it will have for all of us in the commercial real estate business, the service sector and the global economy" John C. Cush
As another year of the housing downturn ends, some are wondering if it finally is more advantageous to buy instead of rent, given discounted home prices and mortgage rates near historical lows.
Overbuilding during the boom and falling employment during the bust have left Orange County with glut of about 10 million square feet of office space – equal to about 386 average-sized buildings.
So landlords are expected to keep cutting office rent through 2013, even though the amount of empty space is shrinking.
That's the outlook for Orange County's office market, according to forecasters at the USC Lusk Center for Real Estate.
Commercial real estate executives got a preview this week of Lusk's 2012 Casden Forecast for Orange County, which will be released on Tuesday...
Statistics released by the University of Southern California Lusk Center for Real Estate (www.usc.edu/lusk) show an increase in job opportunities for young real estate professionals and reflect an imporving job market for the industry.
According to the USC Real Estate Employment Report, the Lusk Center received 150 industry job openings in 2011 (through August), a 25% increase over the same period last year...
...Lusk Center Chariman Stan Ross noted that the 2011 Employment Report, which was presented to the Lusk Board on Sept.
By Andrew Khouri
By Morris Newman
Sarah Gardner from the Marketplace Sustainability Desk reports on the rise of the multi-family housing market
Thanks to a favorable
combination of limited
supply and demand edging
up, market conditions for the multifamily sector
are likely to be favorable in 2012. As well, the
tepid market for home buying is likely to continue
into 2012, further boosting re