China’s economy continues to sputter
China’s central bank eased lending requirements by freeing up more liquidity to its banks, according to Bloomberg. All this does is accelerate China’s crackdown of the $16 trillion shadow banking sector. Tough times ahead.
Why it matters: The absence of China in the investment sales market has made its mark. Alternative capital sources are finally filling the void.
Quotable: SL Green’s Andrew Mathias told CO on the recovering investment sales market: Despite a decrease in sales volume, the pricing for NYC assets “has not eroded” significantly. Although foreign investment “took a step back, it took six months or so for the market to gather itself”. The uptick in recent activity is a positive sign for the market.
Where we stand: Sales volume is back up! In the first three months of this year, the city saw more than $12 billion worth of investment sales.