Real Estate Japan News Summary for the Week of June 20th, 2011
Editor’s Note: Real Estate Japan K.K. does not endorse the views expressed in any of the articles and the opinions expressed are solely those of the authors and publications included below. The information below is purely for informational purposes only.
This is a weekly news summary taken from Real Estate Japan’s Twitter feed. If you’d like to see these articles as they go online throughout the week, follow us on Twitter at “Real Estate Nihon”.
Let’s get started:
Disaster shines light on wisdom of renting in a debt-laden world (via The Japan Times)
The destruction wrought by the Great East Japan Earthquake has started to appear in statistics in its full force. The economy was in fact growing from January up to early March, but the huge impact of the March 11 earthquake and tsunami in the remaining weeks of the month pushed the whole quarter’s growth into negative territory. Click here to continue reading.
Global Market Remains Largely Buyer-Friendly For Multinationals (via Property Casualty 360)
“It is a very competitive environment, and that is good for clients,” says Sam Cargill, president of global accounts for Aon Risk Solutions. Rick Jensen, managing director for Willis International, a member of insurance broker Willis Group, adds that insurers are strongly defending their incumbent accounts and are willing to deal. Click here to continue reading.
E&O partners with Japan’s Mitsui (via HomeGuru.com.my)
Leading property developer, Eastern & Oriental Berhad (E&O), has signed a marketing collaboration agreement with Mitsui Real Estate Sales Co Ltd, the real estate brokerage arm of Japan’s largest property developer, Mitsui Fudosan Co. Click here to continue reading.
Sekisui House to sell 50 bln yen of convertible bonds (via Reuters)
Sekisui House , Japan’s largest homebuilder, said it would sell 50 billion yen ($620 million) of convertible bonds maturing in 2016 to raise money to invest in China and repay debt. Click here to continue reading.
Why not to invest in China: Let’s count the reasons (via The Globe and Mail)
Investors are fleeing from Sino-Forest (TRE-T3.19-0.15-4.49%) and other companies with operations in China. Some people see this as a buying opportunity; I disagree. In my opinion, China is slowly unravelling, and the imploding share prices of many Chinese companies are a symptom of deeper problems. This is a view I’ve held for some time and I believe the evidence is mounting that China’s economy is on the verge of a slowdown. Let me list some reasons…click here to continue reading.
Comparing National Debt: U.S. and Japan (via Seeking Alpha)
A couple of interesting articles caught my attention over the last few days. In the first, former Treasury Secretary and Presidential Economic Advisor Larry Summers wrote about the importance of further stimuli to keep a depression at bay and avoid a lost decade. The second, Pedro Nicolaci da Costa of Reuters wrote that Federal Reserve Chairman Ben Bernanke warned of a crisis if the federal debt level is not raised. Click here to continue reading.
Asia Housing Boom Stalls as Tightening Puts Brake on Prices (via Business Week)
From Mumbai to Melbourne, Asia’s property boom is stalling as the world’s highest interest rates and government efforts to curb prices take hold. “Across Asia-Pacific, you have seen a policy induced pullback,” said Rod Cornish, head of real estate strategy at Macquarie Capital Advisers in Sydney. “It’s a required pullback because if some of these markets had been allowed to continue, you would have had more overbuilding, more overvaluation, and a bigger correction down the track.” Click here to continue reading.
Japan Recovery Means BOJ Can Avoid Adding Stimulus, Muto Says (via Bloomberg)
Japan’s economy can recover from a March earthquake without additional asset purchases by the central bank because the slump isn’t too severe, former Bank of Japan Deputy Governor Toshiro Muto said. Click here to continue reading.
Ambitious Osaka property gets no Tokyo drift (via Reuters)
Three months after eastern Japan was struck by a massive earthquake and tsunami, gloom has once again settled over Osaka’s long-depressed property market. After lurching from one recession to the next over the last two decades, Osaka found a glimmer of hope when institutions and embassies flocked to the country’s second-largest economic centre to open emergency offices after the March 11 earthquake. But the mood quickly changed. Click here to continue reading.
Photo Credit: Jeff Maurone via Wikimedia Commons