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Softening industrial markets, interest rate cuts in the summer and a robust shadow lending sector.
Not surprisingly, the most expensive areas are on the east and west coasts.
Some markets are flourishing even as development nationwide slows.
Many out-of-town home buyers have significantly higher incomes than local residents.
Where will the Fed take interest rates next year?
This is the largest office lease in the US for the year, according to the owners.
The luxury retailer paid $410 millioncfor 720 Fifth Ave.
The luxury retailer has been leasing the building since 1997.
The bank's entity paid $1.1 billion for a 20% equity interest in a $9 billion portfolio.
European co-owner Signa Holding needs the cash, according to the Financial Times.