European Stars And Stripes (Newspaper) - October 12, 1988, Darmstadt, Hesse Page 6 the stars and stripes wednesday october 12,1988 stateside Chimney dismantled to free Homeowner , Wash. Up firefighters had to dismantle a Chimney Brick by Brick o fret a Man who tried the Santa Claus method of Home entry after he incited himself out officials said. Leroy Townsend s cries for help alien he became wedged in inc 18-Inch opening were heard by neigh Bors who called firefighters. Tnwnsend was treated for minor injuries when he was freed an hour after firefighters arrived a Tacoma fire department spokesman said. West coast log exports Down Agency reports Portland Ore. Up log exports from the Weil coast were Down in july but lumber shipments were up slightly according to figures released by the Pacific Northwest research station. The station a Branch of the Forest service last week said log exports in july dropped 19.7 percent from june although they were up 7.2 percent from july 1987. But lumber exports were up 2,8 percent from june and up 75.z percent from inc same month one year ago. The figures cover Oregon Washington Alaska and Northern California. Japanese buyers focus shifts from Hawaii to California los Angeles up japanese investors apparently having worn out i hair Welcome in Hawaii s Satu rated real estate Market arc now buying up More real estate on the . Mainland an accounting firm re ported investors have spent �8.96 billion on . Commercial and residential real estate this year $2.48 billion or 28 percent of the total in California according to a study by Kenneth and co. At the current rate japanese spending will surpass 198ts . Real estate investment total of nearly $1 i Bil lion. By 1989, the number will reach $ 16 billion said Jack Barthell a Leven Hal partner who co wrote the study. Despite increased investment the japanese still rank third among top foreign owners of . Real estate. Bar i Hill rates England at billion As of 1985, and the Netherlands. $36 billion ahead of Japan s $3s billion. The Impact of japanese real estate investment on the Southern California Job Market is significant bar Thill of jobs in Southern California alone result from this Type of japanese investment even though the enact Impact on jobs is hard to quantify Barthell said. In Hawaii their Money is keeping a Lotof people Busy from professionals like architects and engineers Down to it is that heavy japanese investment in everything from housing tracts to major resorts that i turning off hawaiian politicians and business people. They own almost All the landmark resort and residential property on the islands and thai has upset the locals Barthell said. Thucie Are now proposed restrictions on foreign investment in he said mis Souri and Nebraska already have restrictions. But Here in los Angeles and California the Japa Nese arc finding a great climate a Good business environment and the potential for three or four times the return on investments compared with real estate in Japan he said. New York stale and Illinois rank second and third behind California with Hawaii slipping from its Lead ing rank to fourth this year. Japanese spending noncommercial property in Georgia and other Southern states also is rising Barthell said. Overall japanese investment is headed upward rapidly. In 1980, japanese owned about j5 billion in . Real estate. By 1985, i trumped to $19 billion. By 1990, it will hit $69 billion Barthell said. Life insurance companies real estate developers and individual investment companies spending Money for commercial office properties still dominate the Japa Nese list the study showed. But such new investors a sporting goods makers and textile manufacturers arc getting into the game Barthell said. Japanese investment also is coming in new forms most notably joint ventures with . Companies such As a $60 million. 350-room hotel project in los an Geles. That project is financed by japanese investors but it involves both Domestic and japanese contractors and Bankers Barthell said. 51 billion a res listed still headed by Wafon new York
