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Newspaper
News
Location
Frederick, Maryland, United States of America
Date
Nov 30, 1979
Page
2
In the 1980s big real estate money targets well located, well designed office buildings with low rents and expiring leases. John R. White of Landauer Associates foresees rising rents, inflation hedges via indexed leases, and continued investor interest in central city hotels and urban properties driven by international tourism and conventions.
Washington AP report says savings and loan associations will reduce mortgage lending by more than 25 percent in the coming year while earnings erode. Jay Janis told Congress earnings will be halved by early 1980 due to high money market rates and jumbo certificates. He noted S&Ls pay record highs to attract savers and must raise rates on new issues, squeezing housing finance as mortgage costs rise. The sector links savings to the housing market, with only about 15 percent of buyers able to afford a new home amid 13 to 14 percent rates and high inflation.
Michael C. Evans and Regina E. Staley join Kefauver Realty Gallery of Homes as sales counselors. Evans, based in Frederick, has seven years in law enforcement. Staley, also from Frederick, previously worked at Fort Detrick’s Army Medical and Research Development Command and belongs to several local groups. Loyola Federal Savings names 14 officers, promoting Rhodes to VP in Towson and adding VPs Calebaugh Gill Cougnet, McCracken, and others. branch managers Stash, Barr, Favinger, Feldman, Neville, Schmitt, Smith, and Willey also named.
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