Commercial Real Estate & Business News – November 30, 2023

Growth in the US economy continues to surprise to the upside while inflation declines. New data from the Bureau of Economic Analysis revealed the US economy grew at a 5.2% annualized pace in the third quarter, revised up from the 4.9% reported in the advance estimate a month…»

It seems that the financial planets have aligned and driven many to decide that the Federal Reserve will be compelled to lower interest rates. It’s what Deutsche Bank’s economists are predicting — 175 basis points off the current federal funds rate range of 5.25% to 5.5%, according to a Reuters…»

A record number of people shopped over the five-day holiday weekend as Black Friday continued its streak as the most popular shopping day of the entire weekend. The day after Thanksgiving saw 76.2 million shoppers visit brick-and-mortar stores, up from 72.9 million in 2022, according…»

With just under 1 million multifamily units under construction in the U.S. at the end of the third quarter, there has been a great deal of focus on which major markets are facing the highest risk of oversupply. While it’s certainly possible to analyze this with a broad-brush approach from a market…»

The planned VAI Resort in Glendale is expected to have a $32 million annual economic impact, or about $800 million over 25 years to the city of Glendale, according to an economic impact report released Tuesday. When the resort project was unveiled in 2020 as the Crystal Lagoons Island…»