UPDATED: ON THE BRINK: 15 Real Estate Firms Going, Going... Frozen Credit Markets Put Survival in Doubt for More Than a Dozen Property Holding Companies
By Mark Heschmeyer April 22, 2009Co-Star Group Information Services(not sure if you can follow this link if you aren't a member. If you aren't it's free to join and very good info weekly by email)
"Just how tough a year 2008 was on property investment companies is evident in the fact that accountants for at least 15 firms issued "going concern" doubts in their year-end annual reports filed with the U.S. Securities & Exchange Commission.
The distressed companies' holdings include controlling or managing interests in at least 618 shopping centers with 230.5 million square feet of space, more than 800 hotels/resorts/casinos with more than 122,000 rooms, 36 office properties totaling 4.8 million square feet and 33 multifamily complexes with more than 2,280 units.
CoStar Group, Inc. has reported widely on the problems of many of the firms, including Centro Properties Group and General Growth Properties (NYSE: GGP). Others, such as Prime Group Realty (NYSE: PGE-PB), Meruelo Maddox Properties, Lodgian Inc. (AMEX: LGN) and Interstate Hotels & Resorts, have not received widespread media coverage.
I'm still overall bullish on China but found this article from Forbes by a China bear interesting. Note he is releasing a book entitled "The Coming Collapse Of China". [more]
Hello again-still here? Great Let's continue.. [more]
alstry put a good post today "Good Luck Selling Your Condo Now" [more]
Interesting article on China. I recommend reading this in it's entirety (it's just one page) but I've pasted a few of the more interesting points below. What I still haven't seen is any analysis on the benfits of potentially huge foreign investment straming in as China shows more and more potential strength. [more]
Nice Job Motley Fool staff. You can now see your activity and results in every sector and can opt to view the tickers within each. Open, closed or all picks, Fantastic.
Further suggestion: I wish you could mouse over the tickers to get the pop up summary of the stock like you can in the active or closed picks tickers area. I also wish you could do that in the alerts. Those would be real time savers IMO