For Real Estate Professionals Seeking a Market Edge
G-20 Pledges to Continue to Assist World Economies
The G-20, also known as the Group of 20 Countries, announced last week that stimulus measures will remain in place to preserve the ongoing support for world economies. Investors saw the agreement as a signal that interest rates would remain low; and that the U.S. dollar will remain weaker than other currencies due to low [U.S.] interest rates. As such, the dollar is being used as “carry trade,” to finance purchases of investments in other countries; a trend that devalues the dollar when such purchases are made.
The U.S. dollar index, which measures the greenback against a basket of foreign currencies, fell more than 1 percent to its lowest level of the year. The index began sliding for the past eight months since major stock indicators bounced off 12-year lows. Although investors have based most of their buy/sell decisions on the economy, have also followed a pattern of funneling money into stocks when the dollar weakens, and pulling it out when the currency rises.
We will keep you posted…
Hot Money
Investment Group Seeking to Acquire Single Tenant Goodwill Stores
Penstar is currently working with a buyer seeking to acquire free-standing single-tenant Goodwill stores located in Arizona, California, and Nevada. The purchaser is acquiring properties on an all-cash basis; but will consider assuming existing debt. The buyer is seeking to add to his three recent Goodwill acquisitions with additional West Coast purchases through the first quarter of 2010. To learn mor, please contact Steven Hamermesh at (818) 883-9609 or Hamer@PenstarAdvisors.com.
Helpful Humor
The best antidote for those challenging transactions is to take a moment to have a hearty laugh. Helpful humor is our way of infusing laughter into your work-week
“Art Appreciation” The artist responds, with somber emotion, “I paint what I feel inside me.” “Have you ever tried Alka-Seltzer?” she asked. |
30
Day Libor |
10-Year
Treasury |
Prime |
0.32% |
3.74% |
3.25% |
Penstar Realty Advisors can be reached at (818) 883-9600.
Our offices located at:
21700 Oxnard Street, Suite 1870, Woodland Hills, CA 91367