drbubb

Philippines, plenty of borrowing capacity, to fuel infrastructure Build-outs I was a little surprised how GOOD the Debt figures now look for the Philippines ==== Government Debt to GDP : 42% (end 2016) Household Debt to GDP-- : 9 % (end 2016) = The combined total of : 51% is very low, and shows there is plenty of room to borrow for infrastructure improvements DEBT to GDP Compare with other countries: Country tot'l 2013 / Govt.: HseHD : Total-2016 Japan-------- : ????? / 250% + 62% = 312% USA----------- : 123% / 104% + 79% = 183% Singapore - : 105% / 105% + 62% = 167% Euro Area -- : ????? / 91 % + 59% = 150% Malaysia---- : 140% / 53 % + 89% = 142% OECD aver. : 134% / Thailand---- : ? 53%/ 44 % + 71% = 115% Hong Kong : ????? / 32 % + 67% = 99 % China, PRC : ????? / 44 % + 43% = 87 % Philippines : ???? / 42 % + 9 % = 51 % Indonesia-- : 38 % / 27 % + 17% = 44 % ========== > http://www.tradingeconomics.com/hong-kong/indicators > http://www.greenenergyinvestors.com/index.php?showtopic=18811&page=14

Philippines, plenty of borrowing capacity, to fuel infrastructure Build-outs I was a little surprised how GOOD the Debt figures now look for the Philippines ==== Government Debt to GDP : 42% (end 2016) Household Debt to GDP-- : 9 % (end 2016) That combined total of ---: 51% is very low, and shows there is plenty of room to borrow for infrastructure improvements == Compare with other countries: Country tot'l 2013 / Govt.: HseHD : Total-2016 Japan-------- : ???? / 250% + 62% = 312% USA----------- : 123% / 104% + 79% = 183% Singapore - : 105% / 105% + 62% = 167% Euro Area -- : ????? / 91 % + 59% = 150% Malaysia---- : 140% / 53 % + 89% = 142% OECD aver. : 134% / Thailand---- : ? 53% / 44 % + 71% = 115% Hong Kong : ????? / 32 % + 67% = 99 % China, PRC : ????? / 44 % + 43% = 87 % Philippines : ??? / 42 % + 9 % = 51 % Indonesia-- : 38 % / 27 % + 17% = 44 % > http://www.tradingeconomics.com/hong-kong/indicators > http://www.greenenergyinvestors.com/index.php?showtopic=18811&page=14

Philippines, plenty of borrowing capacity, to fuel infrastructure Build-outs I was a little surprised how GOOD the Debt figures now look for the Philippines ==== Government Debt to GDP : 42% (end 2016) Household Debt to GDP-- : 9 % (end 2016) That combined total of ---: 51% is very low, and shows there is plenty of room to borrow for infrastructure improvements == Compare with other countries: Country tot'l 2013 / Govt.: HseHD : Total-2016 Japan------- : ???? / 250% + 62% = 312% USA--------- : 123% / 104% + 79% = 183% Singapore - : 105% / 105% + 62% = 167% Euro Area-- : ????? / 91 % + 59% = 150% Malaysia---- : 140% / 53 % + 89% = 142% OECD aver. : 134% / Thailand--- : ? 53% / 44 % + 71% = 115% Hong Kong : ????? / 32 % + 67% = 99 % Philippines : ??? / 42 % + 9 % = 51 % Indonesia-- : 38 % / 27 % + 17% = 44 % ========== > http://www.tradingeconomics.com/hong-kong/indicators > http://www.greenenergyinvestors.com/index.php?showtopic=18811&page=14

(In answer to a Question on the PH Bubble thread): Is there a "massive built up of private debt" in PH? No! Philippines Public debt, owed externally, is falling - as a Percentage of GDP. I think that private debt in the PH banking system is growing at about 15-20% per annum, which is almost double the nominal growth of 8-10%. If i find a chart of private debt, i will post it here ======================= Household debt - US and several Asian countries (but not PH) Malaysia might have a problem (2013 data) -especially since oil prices have dropped by 2/3rds in USD terms Old data (2013); and it shows PH Household Debt down at 6%, up from 5% in 2010 A minority of Filipinos even have bank accounts, and so it is not easy for most citizens to borrow at all. Perhaps increasing sophistication explains who bank lending is climbing so fast. Philippines Household Debt | Economic Indicators - CEIC In the latest reports, Philippines's Household Debt accounted for 8.8 % of the country's Nominal GDP in Dec 2016. Money Supply M2 in Philippines increased ... == > https://www.ceicdata.com/en/indicator/philippines/household-debt == Compare with other countries: Country tot'l 2013 / Govt.: HseHD : Total-2016 Japan------- : ???? / 250% + 62% = 312% USA--------- : 123% / 104% + 79% = 183% Singapore - : 105% / 105% + 62% = 167% Euro Area-- : ????? / 91 % + 59% = 150% Malaysia---- : 140% / 53 % + 89% = 142% OECD aver. : 134% / Thailand--- : ? 53% / 44 % + 71% = 115% Hong Kong : ????? / 32 % + 67% = 99 % China, PRC : ????? / 44 % + 43% = 87 % Philippines : ??? / 42 % + 9 % = 51 % Indonesia-- : 38 % / 27 % + 17% = 44 % ========== > http://www.tradingeconomics.com/hong-kong/indicators

"massive built up of private debt" ? Philippines Public debt, owed externally, is falling - as a Percentage of GDP. I think that private debt in the PH banking system is growing at about 15-20% per annum, which is almost double the nominal growth of 8-10%. If i find a chart of private debt, i will post it here ======================= Household debt - US and several Asian countries (but not PH) Malaysia might have a problem (2013 data) -especially since oil prices have dropped by 2/3rds in USD terms Old data (2013); and it shows PH Household Debt down at 6%, up from 5% in 2010 A minority of Filipinos even have bank accounts, and so it is not easy for most citizens to borrow at all. Perhaps increasing sophistication explains who bank lending is climbing so fast. Philippines Household Debt | Economic Indicators - CEICIn the latest reports, Philippines's Household Debt accounted for 8.8 % of the country's Nominal GDP in Dec 2016. Money Supply M2 in Philippines increased ... == > https://www.ceicdata.com/en/indicator/philippines/household-debt

The important thing now is that MLP made it into the runoff Step one France faces its own EU referendum as far-right Europhobe Marine Le Pen and independent centrist Emmanuel Macron beat two main parties to go head to head in presidential elections after tight vote France could face 'Frexit' after far-right leader Marine Le Pen came second place ahead of election Le Pen and independent centrist Emmanuel Macron beat two main parties to go head-to-head on May 7 Republican candidate Francois Fillon conceded after he and far-left leader Jean-Luc Melenchon got 19.5% A polling station in Eastern France was forced to close as bomb squad was deployed to deal with a vehicle The worrying incident comes after a deadly ISIS gun attack on the Champs-Elysees in Paris on Thursday Read more: http://www.dailymail.co.uk/news/article-4437156/Leading-candidates-cast-votes-French-election.html#ixzz4fANIJsI8 Step two I had a Dream - the globalists will soon learn they are not as powerful as they think - their protections are eroding

Haha. Yeah, I know what you mean. I keep hoping to see a glimmer of genuine self-reflection and change from Old Ron. Sometimes I imagine it is there. But it soon winks out. He doesn't need a timer, the video he did without it, was exactly 10 minutes long. He does the same thing over and over, always repeating old habits, old mistakes. I think he will soon have another go at finding a scamming "savior". Let's see if he can still manage that Here's Ron's old youtube friend, KP, kauilapele 170316 Kp Notes about yesterday's Conference KP is very into Corey Goode's material, and so am I (so far). KP wanted to "hold the space" at the conference. RVD "holds the space" for liars and scam-artists... on the Paradoxman channel

First Singapore, then Hong Kong, London, and Vancouver... now Toronto imposed taxes on foreign buyers, aimed most acutely at Chinese buyers... Toronto imposes 15% property tax The government of the Province of Ontario announced a laundry list of measures to prick the crazy house price bubble in Toronto and surrounding areas. This includes a 15% transfer tax imposed on home sales to non-resident foreign investors, including corporations. It’s aimed at Chinese investors in China that buy homes in Canada to diversify their assets and get them out of harm’s way in their own country. For them, homes in Toronto (or anywhere outside China) are an asset class denominated in a foreign currency. But these homes also confer other benefits in the event some untoward mishaps occur in China, as these investors appear to half-expect. . . . > http://wolfstreet.com/2017/04/20/toronto-house-price-bubble-foreign-buyers-tax-double-ending-by-brokers-paper-flipping-by-property-scalpers/ Will these large Taxes push Chinese buyers towards over-supplied marlets, like Manila and Chiang-mai, who are now still welcoming to China buyers ??

Vancouver's Bubble versus the Non-bubble in NYC, Philly, etc David and Goliath: a priceless Vancouver academic retires, after 45 years grappling with unaffordability UBC geography professor David Ley has had a front-row seat to the epic transformation of a city He arrived in the city in 1972, a bearded Briton in flared jeans, armed with an Oxford degree and an activist streak that had already taken him to Philadelphia. There he had both studied and sought to alleviate the stressed conditions of African American residents of poor neighbourhoods, where vacant homes struggled to find buyers for US$1. The former was conducted through his PhD work at Pennsylvania State University, the latter through volunteer work at a Presbyterian church. He lived in the urban landscape he studied. The same would be true in Vancouver. He landed here when the city was undergoing the first throes of gentrification, in contrast to the decay he had seen in Philadelphia. But he noticed victims here too - residents evicted from rooming houses to make way for the first condo developments. He could never have guessed that he was securing a ringside seat for one of the world’s most remarkable urban transformations, turning modest Vancouver into one of the planet’s most unaffordable cities, its residents alternately enriched and overwhelmed by waves of foreign capital. A global test case and basket case. Is huge loophole being opened in Vancouver’s foreign buyer tax? His benchmark work, the peer-reviewed 2010 book Millionaire Migrants, lays out the case that Vancouver’s unaffordability woes are products of policy, international capital and wealth migration, and Goliath-like pro-development forces pushing the notion that answers lie in market-driven supply. Ley argues instead that market-driven condo development and on-the-ground unaffordability have gone hand in glove. Now Ley, 69, perhaps the most significant academic voice in the unaffordability debate, is retiring from UBC; the former head of the geography department taught his last class this month and he officially retires at the end of the year after a research sabbatical. He continues to study real estate bubbles around the world, and there will likely be another book at the end of it, examining and comparing Vancouver, Hong Kong, Singapore, Sydney and London. == > more: http://www.scmp.com/news/world/united-states-canada/article/2089031/david-and-goliath-priceless-vancouver-academic

Analyst Who Predicted Trump’s Ascendancy Bets on Le Pen Win by Sid Verma April 21, 2017 Undecided voters bad news for Macron, says GaveKal’s founder Recommends overweight sterling, large-caps; bond shorts How Will Markets React to Elections in France? Don’t bank on a relief rally in the euro area anytime soon. Markets are underpricing the prospect of Marine Le Pen emerging victorious in the French election as a sea of undecided voters throws into sharp relief pronounced apathy for center-leftist Emmanuel Macron -- the front-runner by a whisker -- and the backlash against the European Union project. That’s the conclusion drawn by Charles Gave, founder of Hong-Kong based asset-allocation consultancy GaveKal Research, who predicted the triumph of Donald Trump in the U.S. election, and is now betting on a win for the anti-euro National Front candidate. “Le Pen’s momentum is a slow-moving reaction against the men of Davos -- as we have seen with Brexit and Trump -- but markets don’t want to believe it,” he said by phone before the first round of the French poll on April 23. Given the prospect of a Le Pen victory, Gave, who has been researching tactical asset allocation for more than 40 years, is advising clients to adopt long positioning in the pound as the U.K. would benefit from haven bids, and shorts on inflation-linked German bonds amid the risk of deflation in the euro area. == > more: https://www.bloomberg.com/news/articles/2017-04-21/analyst-who-predicted-trump-ascendancy-is-betting-on-le-pen-win

AFTER the latest Flash-crash, some changes Bitcoin / USD Index and Sanity Checks Due a price flash crash, and the halting of fiat deposits and withdrawals at a number of exchanges recently, we have made numerous changes to our Bitcoin / USD (.BXBT) Index. Below is a list of the current constituent exchanges in the index. They are equally weighted. Bitstamp GDAX We have added various index sanity checks to prevent the mark price crash that occurred last Saturday. Please read the blog post New Protections for BitMEX Indices for more details. Bitcoin / USD Swap Funding Rate Calculation Changes Due to the ongoing issues at various Bitcoin exchanges with regards to depositing and withdrawing fiat currencies, there has become no credible source for overnight USD and Bitcoin lending rates. The BitMEX Bitcoin / USD Swap, XBTUSD, currently uses the Bitfinex overnight USD and Bitcoin lending rate in the funding rate calculation. The interest rate component of the funding rate calculation will be fixed at a positive 0.03% per day. To arrive at this number, we calculated the average difference between the Bitfinex daily USD and Bitcoin lending rates for a 12 month period ending 31 March 2017 to arrive at the positive 0.03% rate. (by email, from the Bitmex exchange)

Colliers Summarizing their year-end (Q4-2016) report, for those who would rather Listen than Read Colliers Market Update: Philippine Residential Sector Residential vacancies were at 10% at year-end 2016, up 2% from the first half, and are climbing on the influx of supply. Residents are drawn to fringe areas, where they can get bargains "We see condominium prices continuing to rise, with yields going down" Landlords should target young workers and expats (how?) Philippines' Property Boom A report in Bloomberg says that Inflows from OFW's is fueling the (continuing) boom in prices (Because buyers seem to be willing to ignore falling rents?) OFW's account for 40% of foreign sales - and developers are targeting them in places like HK == Bloomberg's David Ingles in Hong Kong > https://www.bloomberg.com/news/videos/b/bec8eb97-566a-40d3-a9e3-623aaec96a58

(from the Stock chat thread): A decent profit after one month TAKING PROFITS, on the "thought trade", because the "easy money" may have been made on MEG, and AGI. With MEG/Megaworld up to P4.10, and is at/near expected resistance. That's 15.5% above the level (P3.55) where I flagged it as a possible Buy. If I was in one of the above trades as a Short Term punt, I would consider taking profits now 1/ SELL : 10,000 shs. SMPH : P28.30 at Php 283,000 / now P29.65 - P296,500 (loss:-P13,500) and Hedge by: BUY : 22,000 shs. AGI : P12.88 at Php 283,360 / now P14.70 - P323,400 (gain: P40,040) = Net: (Php 360) = Overall Gain: Php 26,540-> +9.4% on the Face value, of a well-hedged trade or: 2/ BUY : 40,000 shs. MEG : P 3.55 at Php 142,000 / now P 4.10 - P164,000 (gain: P22,000) BUY : 84,000 shs. FLI : P 1.68 at Php 141,120 / now P 1.66 - P139,440 (loss: -P 1,680) = Net: (Php 120) = Overall Gain: Php 6,820-> +2.4% on the Face value, of a well-hedged trade ===== I would probably only unwind the 1st part (MEG vs. 5,000 shs SMPH) of the 2nd trade, and continue to stay short SMPH vs long FLI

TAKING PROFITS, on the "thought trade", because the "easy money" may have been made on MEG, and AGI. With MEG/Megaworld up to P4.10, and is at/near expected resistance. That's 15.5% above the level (P3.55) where I flagged it as a possible Buy. If I was in one of the above trades as a Short Term punt, I would consider taking profits now 1/ SELL : 10,000 shs. SMPH : P28.30 at Php 283,000 / now P29.65 - P296,500 (loss:-P13,500) and Hedge by: BUY : 22,000 shs. AGI : P12.88 at Php 283,360 / now P14.70 - P323,400 (gain: P40,040) = Net: (Php 360) = Overall Gain: Php 26,540-> +9.4% on the Face value, of a well-hedged trade or: 2/ BUY : 40,000 shs. MEG : P 3.55 at Php 142,000 / now P 4.10 - P164,000 (gain: P22,000) BUY : 84,000 shs. FLI : P 1.68 at Php 141,120 / now P 1.66 - P139,440 (loss: -P 1,680) = Net: (Php 120) = Overall Gain: Php 6,820-> +2.4% on the Face value, of a well-hedged trade ===== I would probably only unwind the 1st part (MEG vs. 5,000 shs SMPH) of the 2nd trade, and continue to stay short SMPH vs long FLI

Another possible (but unlikely?) dream: the Manila "Bay City of Pearl" Future of Philippines - Bay City of Manila April 22, 2017 "may not happen" Among the evidence that the country is developing economically is the presence of technology, high-rise establishments, advanced and modernized equipment especially in the field of medication, agriculture, labor and etc. But how far this improvement will go? A Filipino-Chinese conglomerate is said to begin an extensive reclamation project that will give rise to the “most integrated central business district” in the heart of Manila, “The New Manila Bay City of Pearl.” Watch the video below. If this project will push through, it would open a gateway to investors. The project will also open lots of job opportunities particularly in marketing, construction, business, and to name a few. While some are overwhelmed by the so-called development that the country may take, others pronounced that this might not happen. == > http://www.notey.com/@philnews_unofficial/external/15490665/the-future-of-the-philippines-introducing-the-%E2%80%9Cnew-manila-bay-city-of-pearl%E2%80%9D.html

(Manila Bay developments were a "bet" on infrastructure improvements): The Beginning of “The Glory Age of Infrastructure” M E T R O M A N I L A M A R K E T V I E W - Q3-2016 CBRE Research New expressway connecting Terminals 1 and 2 of the Ninoy Aquino International Airport (NAIA) to the Entertainment City. With the new expressway open to all motorists, the travel time from the airport terminals to the different hotels and casinos in the area was substantially decreased. The new infrastructure will allegedly benefit the hospitality sector as added convenience attracts more tourist visits subsequently improving revenues of hotels in the Bay Area. Location and accessibility are two of the most important factors influencing real estate investment decisions and tourism activities. This fact establishes the critical part that transport infrastructure plays in the determination of the next best location for property investment and development. The NAIA expressway’s lessening traffic congestion in surrounding cities will increase the desirability of investing in the southern Metro Manila area. Wanting to partake of the pie, major developers have been shifting to the Bay Area not only in terms of residential projects but commercial and office developments as well. Aside from the high supply of land for development, lined-up infrastructure projects increase the potential of the area thus drawing real estate investments across all sectors Ayala Land, Inc. (ALI) plans to open a new mall within the Entertainment City next year. The said Ayala mall will have an approximate area of 600,000 square meters, making it larger than SM Mall of Asia. Furthermore, ALI intends to develop a Business Process Outsourcing (BPO) building and a 12-storey hotel within the mall complex. The Bay Area is at present regarded as one of the biggest contributors to the Business Process Outsourcing Boom in the Philippines. Visa, Inc. has recently opened a new BPO hub in Bay City. The hub occupies a 6,300-square-meter... > Q3-2016 : http://www.cbre.com.ph/wp-content/uploads/2016/12/Q3-2016-Metro-Manila-Market-View.pdf This video shows the excitement The Future City Masterplan of Mall of Asia Complex and Manila Bay Area Published on Aug 15, 2016 Start investing now in your own Condominium Rental Property and earn a PASSIVE income for you in years to come. We are offering very affordable units with zero interest down payment in Prime locations all over Metro Manila.

Mega Manila Subway Project This one looks like it may happen - there is a very serious need. Moving people from Quezon City, to Ortigas, then south of Edsa through BGC and to FTI / ARCA South, then NAIA Watch: President Duterte`s Mega Manila Subway Project & PNR North to South for 2018 #Buildbuildbuild https://www.youtube.com/watch?v=ztV4zEzTso4 . The Beginning of “The Glory Age of Infrastructure” M E T R O M A N I L A M A R K E T V I E W - Q3-2016 CBRE Research New expressway connecting Terminals 1 and 2 of the Ninoy Aquino International Airport (NAIA) to the Entertainment City. > Q3-2016 : http://www.cbre.com.ph/wp-content/uploads/2016/12/Q3-2016-Metro-Manila-Market-View.pdf

An interesting documentary - who can say how much of this is true Atlantis - You are so much more. Antarctica The positive things said about the Illiminati, makes it easy to guess who made it

NOTES - on 4/21/2017 Meeting ======== Topics discussed earlier revolved around 2 major topics, brought to us primarily by conversations by Fe, Will and Vlad. Topics are: Agro Industrial Developments and Deathcare - Columbarium Investments. Agro industrial investments: *interesting opportunities coming from foreign investors. Might not be accessible to all on the demand side, but on the supply side (landholders) could potentially be lucrative. *full service consulting and financing has been repeatedly done before. * arrangement rates are good * if you have land in Luzon, or know someone, then coordination in this could be good Other trivia: * Thailand based CP (Charoen pohpkhand something hehehe) is heavily investing in the PHILS. And offers fairer terms compared to SAn Miguel to their contract growers. * better eat free range chicken if you want a more humane treatment for your food. Some growers are forcefully fattening chicken in ways I would rather not describe here *Central Luzon opportunities due to agricultural investments may open up and could be a good thing to look into Deathcare And Columbariums: Update: HVN / Golden MV Holdings - has been a great investment! One of the best performers Deathcare as an industry- *sensitive *in primary market, predominantly composed of mature sellers/agents, with capacity to be empathic as a key factor *expanding market in mature economies like US, but growing in the Philippines as well *supply either accesses the market pre-need, at need, and post-need, with varying prices enjoyed * euphemism filled(?) - called home to glory = death Columabariums (and other notes on memorial parks and the like) *Villar company going IPO in this space ( HVN, Golden MV Holdings ) * In terms of pricing, seems similar to condo market in terms of the developer dictating price increases at pre-selling stage. Increases are at about 30 ++ percent per annum during a certain period, at least until secondary market absorbs majority of sellable inventory *low cost of entry - with 35k ++ at preselling stage, installment basis * at secondary market - double or triple, some selling for 100k plus to 150 plus (final note): I may have missed a lot of other points. Feel free to contribute here - I. M.

Makati MEET-UP! Join us for Face-to-face Discussions ... MeetUp website > LINK to Phl. REITs charts & data: pg.3: There is a popular Meet-up focusing on property investing every two weeks (or so) in Makati. Join the discussion online (here or through the Meet-up site, or Join us in person. We usually meet at Seattle's Best Coffee* in Greenbelt #3* mall on Saturday morning / see new venue* *( Note: In 2022 location is now most often at Coffee Bean at Greenbelt, from 1030 am.) But sometimes we meet in other locations, and there are periods when we meet on consecutive Saturdays So Check the Meet-Up site for details of coming events > Makati Mastermind / MANILA INVESTORS: https://www.meetup.com/Manila-Real-Estate-Investors/ (Note: those who attend may also be invited to join a Viber discussion group - No spammers please !) ===== ===== How to JOIN the Discussion on threads here - It's Free To join the chats & the community here at Makati Prime, ... and also participate in the various GEI forums Go Read the instructions in post #2 of the GEI Landing page. (However to get past security, you will need to be able to answer a question concerning Dr B's favorite animal. Hint: It is not an animal at all it is THIS GUY, Admiral Byrd, who spells his name with a "Y", and not an "I") Photo of one of the Meet-up groups, Manila Real Estate Investors : Membership to the Makati Prime forums on GEI is free, and once you have joined, you can post on the Forums here. The Meet-up Groups are also Free to attend. Sometimes there are limits on numbers, so book early. === *Starting in 2024, we have moved the Venue to ... COFFEE PROJECT, on Aguirre St. (Behind AIM, near Greenbelt), from 10:30am We meet there almost every Saturday morning

Philly still rising (+8.53%), but not as fast as NYC (+11.1%) O : 132,000: 7.32% : 615,000 : 8.08% : 190.48 : 5.31% : 263.26: 182.27 : 184.14 : 215.68 : 192.32 : N : 132,000: 8.20% : 622,000 : 8.19% : 192.18 : 5.31% : 264.59: 184.31 : 184.61 : 215.76 : 193.19 : D : 132,600: 9.59% : 627,000 : 10.1% : 193.97 : 5.53% : 268.63: 186.07 : 185.26 : 216.46 : 194.16 : J. : 133,700: 10.5% : 630,600 : 10.8% : 195.47 : 5.48% : 271.15: 186.75 : 185.16 : 217.12 : 194.93 : F : 134,100: 9.92% : 631,300 : 10.4% : M : 136,100: 8.53% : 650,000 : 11.1% : mo Ph-Zhv : YoYr : Nyc_Zhc : YoYr : 20cityI : YoYr : condo: C-NYC : C-NyNs: C-Wash C-Bost. === Zillow: Philly : ------> : NYC-Z : -------> : 20-city: 20c-Nsa: condo: NY-rsa: /(NSA): NYC : Wash : Bost === Neighborhood: Cobbs Creek Median Zestimate $78,000 + 8.6% : Past 12 months Market temp Very Hot Foreclosures (per 10K) 9.5 Cobbs Creek vs: 5.3 Philadelphia : 1.5 United States Zillow predicts Cobbs Creek home values will increase 0.5% next year, compared to a 3.5% increase for Philadelphia as a whole. > US Property thread: http://www.greenenergyinvestors.com/index.php?showtopic=20764&page=1

Interesting bulletinpoint: Densification opportunities in major markets

Movie theater planned for revamped Gallery mall, city records show Philly.com-13 Jan 2017 A permit application filed with Philadelphia's Department of Licenses and Inspections for work at the Gallery at Market East shopping mall refer ...

Pennsylvania Real Estate Investment Trust (PEI) Settles Into New 52-Week Low on March 22 Session Pennsylvania Real Estate Investment Trust is a self-managed and self-administered REIT in the United States. It is engaged in the ownership, management, leasing, acquisition, redevelopment, development and disposition of retail shopping malls. Pennsylvania Real Estate Investment Trust has 347 employees, is led by CEO Joseph F. Coradino, and makes its home in Philadelphia, PA. Equities Staff | 22 March 2017 / stock chart updated to 4/21/2017 Stock chart : Pennsylvania Real Estate Investment Trust (PEI) ... All-data : 5-yrs : 2-yrs : 6-mos : Update: 8/1/17: $11.97 Meantime ... Pennsylvania Real Estate Investment Trust is a Invests in retail shopping malls Last Price $ 15.16 Last Trade Apr/21 - 16:01 Change $ -0.12 Change Percent -0.79 % Open $ 15.34 Prev Close $ 15.28 High $ 15.34 low $ 14.98 52 Week High $ 25.67 52 Week Low $ 13.76 Market Cap 1,053,325,183 PE Ratio 1.90 Volume 942,013 Exchange NYE PEI - Market Data & News PEI - Stock Valuation Report Trade Shares of Pennsylvania Real Estate Investment Trust (PEI) sank into a new 52-week low yesterday, and could be a company to watch at the open. The company’s stock fell to as low as $13.76 yesterday after opening at $14.41. By the closing bell, the company's stock was at $13.95 a share for a loss of 3.53%. While no company wants to see their stocks fall into a new 52-week low, opportune investors may have reason to celebrate. Bullish investors with a healthy tolerance for risk may view this as a chance to buy stocks as distressed prices before a bounce back. With that said, whenever a stock falls into new negative territory, there usually is a compelling reason for it. Investors bearish on the stock might see the stock reaching its lowest price in a year as a sign of growing downward momentum and take it as a good reason to sell their shares. Bulls, though, could likely see a new 52-week low as the stock hitting its low point and anticipate a recovery in the share price. Pennsylvania Real Estate Investment Trust saw 1.76 million shares of its stock trade hands, that's out of 69.48 million shares outstand. The stock has an average daily volume of 751,657 shares. After hitting a new 52-week low, Pennsylvania Real Estate Investment Trust enters the new trading day with a market cap of 969.25 million, a 50-day SMA of $16.82 and a 200-day SMA of $20.12 For a complete fundamental analysis analysis of Pennsylvania Real Estate Investment Trust, check out Equities.com’s Stock Valuation Analysis report for PEI. PREIT (NYSE:PEI) is a publicly traded real estate investment trust that owns and manages quality properties in compelling markets. PREIT’s 23 million square feet of carefully curated retail and lifestyle offerings mixed with destination dining and entertainment experiences are located primarily in the eastern U.S. with concentrations in the mid-Atlantic’s top MSAs. Since 2012, the company has driven a transformation guided by an emphasis on portfolio quality and balance sheet strength driven by disciplined capital expenditures. Additional information is available at www.preit.com or on Twitter or LinkedIn. PORTFOLIO (24 malls, including these) Plymouth Meeting Mall*: Plymouth Meeting, PA : adding Legoland Willow Grove Park----- : Willow Grove, PA Capital City Mall-------- : Camp Hill, PA Exton Square----------- : Exton, PA Logan Valley Mall------ : Altoona, PA Springfield Mall*------- : Springfield, PA : develop surrounding land? Viewmont Mall---------- : Scranton, PA Wyoming Valley Mall0 : Wilkes-Barre, PA Susquehanna Valley-- : Selinsgrove, PA (outside PA, 13 malls) Cherry Hill Mall---------- : Cherry Hill, NJ Mall @ Prince Georges: Hyattsville, MD Springfield Town Center: Springfield, VA Woodland Mall---------- : Grand Rapids, MI Cumberland Mall------- : Vineland, NJ Dartmouth Mall--------- : Dartmouth, MA 7 Others----------------- : 2xMD, NJ, NC, SC, VA, WI ======= *Value creation underway (and highlighted in presentation) Disposals: 16 malls sold since 2012, generating $720 million This disposed malls were generating ave. sales of $276 psf SEARS exposure reduced from 27 stores to 10. Macy replacements too > see: https://www.preit.com/properties/mall-portfolio/ > presentation : https://investors.preit.com/investors/overview/default.aspx

The Gallery Mall's parent co's are struggling Mall owner, PEI's stock took a big hit. The operator, MAC's did too - Why? Stock------------- : -High- : -Low- : -Last- :change: Yield : P/E : H.x50.0% PEI - : Penn REIT : $25.7 : $13.76: $15.16 - 41.0% : 5.54% : N/A : $12.85 MAC : Macerich-- : $94.0 : $62.14: $65.05 - 30.8% : 4.37% : 92.9 : $47.00 THIS may be why: "Something Snapped": US Department Store Sales Crash Most On Record On the other hand, one particular chart revealed in the latest monthly Bank of America debit and credit card spending report shows that things may be about to get a whole lot worse for America's department stores, as well as malls where they are for the most part the anchor tenants. Of note: while official US retail sales data will be released tomorrow (BofA data always comes several days ahead of the official release), what is especially ominous is that the collapse in department store spending was the biggest on record: http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2017/03/06/bigger%20short_0.jpg Breaking down the headline number into components shows a notable decline across virtually all subsegments, with the exception of Cruise Ships (clearly not a concern for much of middle-class America), Home improvement stores and Home goods. Everything else was flat to down substantially. http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2017/03/06/sector%20level%20sales_0_0.jpg To be sure, Bank of America tries to explain the sudden February weakness with the previously documented delay in tax refunds, although that hypothesis does not conform with last week's Gallup survey according to which February Consumer spending was the highest since 2008. This is what BofA says: "We believe that a delay in tax refunds likely biased spending lower in February relative to prior years. Comparing debit and credit card spend is a good indication since presumably usage of debit cards should be more sensitive to the tax refund (proxy for cash) than credit cards (leverage). Indeed, we found that retail sales ex-autos for debit cards declined 1.7% mom while credit card spending was up 1.8% mom. The second test we looked at was by income cohort -- the tax changes are more likely to impact the lower income households given that the EITC and ACTC are aimed at assisting lower-income households. We see this clearly in our data where the lowest income quintile reduced spending by 3.4% while the highest income quintile actually increased spending by 0.9% mom. We combine these two factors in the Chart of the Month to show weaker debit card spending, particularly for lower income households. > more: http://www.zerohedge.com/news/2017-03-14/something-snapped-us-department-store-sales-crash-most-record