Exclusive outtakes from industry leaders
Audio – Cranes cast long shadow over real estate business
When one of the leaders of General Electric’s real estate operations travels to scope out opportunities in the U.S. or elsewhere, he uses his plane’s landing as a chance to scan a city’s skyline for an overabundance of cranes.
Too much construction is often a bad sign, indicating excess supply and possibly disappointing prices, Alec Burger, head of GE Real Estate‘s North American lending division, told the Reuters Global Real Estate Summit. Of course, the parent company might not exit a crowded skyline emptyhanded — GE’s leasing arm helps builders obtain cranes worldwide.