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Quickies:
Gold Rush - the Gold Prospectors Assoc of America seen a 93% rise in membership from 2007 to 2008 with membership standing at 60,000 members. With ups-downs, overall the gold spot price shot up from $650 (2007) per ounce to $937 per ounce (2008). Due to inflation fears, American Eagle one-ounce gold coins made brisk sales from 47,500 (2007) to 86,000 (2008).
The only one trusted reliable source of wealth remains to be Gold. With demand more than supply and evidently so with the flagging world economy (though some begged to differ), inflation seemed to be the order of the day.
Luxury Real Estate Vultures - bankers, hedge funds managers are no longer the suitable candidates of the women in looking. What about their properties? Former MD of Fortress (hedge fund) now CEO of Concierge Auctions teamed up with Sotheby's selling luxury houses of owners who was high-riding the business world at one time. Better to have an exit than to get stuck with a carrying cost of some millions in mortgages or enter foreclosure.
Malls Think Outside the (Big) Box - with dismal retail climate and highest vacancy rate at 8.4% since REIS commercial real estate research firm started collecting data a decade ago, mall operators are starting to be creative when coming to their definition of a tenant. Formerly 4,900 sq. ft. space occupied by KB Toys at the Concord Mall, Elkhart, Ind., is now the evangelical Fresh Start Church. Nashville, One Hundred Oaks Mall is occupied by Vanderbilt Medical Center that took up the 436,000 sq. ft. or half the mall. One that had lost Macy's and Dillard's as anchor tenant, turned its empty space into an artist colony.
In total, 63 churches, 244 medical facilities, 172 schools moving into retail space in the 2nd quarter of 2009 alone as long as tenants agree to shorter leases and rent relief. However, critics from other mall owners prefer to keep the malls empty rather than to fill it with just any tenant.
