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Is commercial real estate on a rebound? Is a commercial real-estate recovery under way? Interviews and reports during the past four weeks indicate guarded optimism about the outlook for industrial and office properties in the new year.
Feeding the Rental Appetite HUDSON COUNTY indisputably rules the rental housing market in New Jersey: It has the largest supply of Class A units — around 13,000, according to industry experts — and commands the highest average rental rates of any part of the state. This year and next, that rental kingdom is projected to grow rapidly. Developers are already at work on, or have recently announced, projects that will add several thousand more units in waterfront communities like Hoboken, Jersey City and Weehawken, and hundreds of other units elsewhere.
Obama presses Congress to step up aid for homeowners (Reuters) - President Barack Obama on Wednesday proposed a multi-billion-dollar package to help U.S. homeowners refinance and stave off foreclosure, part of an election-year push that is likely to face an uphill battle by the Republican opposition in Congress. Obama moved to counter Republican criticism that the proposal would use taxpayer money to bail out irresponsible borrowers by stressing that only homeowners current on their payments could benefit. The president had sketched out the plan in his State of the Union address last week. |
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