Suddenly, the Fed interest rate cut in December looks like it is very much back on the table
Asian stocks were down this morning and Europe was flat, but investors in U.S. equities were ignoring all that in renewed hopes that the U.S. Federal Reserve will cut interest rates in December, thus fueling asset markets with a new round of cheaper money. Nasdaq 100 futures were up 0.46% this morning, premarket. S&P 500 futures were up 0.25%, after the index closed up 0.98% on Friday. Last week, Wall Street seemed to have decided that a December cut was off the table…»
Report: Renters Growing Less Motivated to Buy, More Committed to Staying
Renting is no longer temporary, it’s a deliberate lifestyle decision, according to Knightvest Capital’s third annual “Multifamily Renter Sentiment Report.” In a poll conducted of over 2,000 apartment renters in September, more than half, 52%, say they do not view homeownership as a status symbol, up from 45% last year. In addition, roughly half say they are uninterested or neutral about owning a home in the next five years. “These findings underscore our renewed optimism…»
Nine straight months of declines push Phoenix multifamily rents down nearly 3%
Apartment rents in Phoenix dropped again in October, falling 0.8%. This is the ninth month in a row of declines and the biggest monthly drop so far this year. So far in 2025, rents are down 2.8%, compared to a 1.3% decrease during the same period in 2024. For perspective, between 2015 and 2019, rents typically rose about 4.5% in the first 10 months of the year. With weak performance through summer and fall, 2025 is almost certain to be the third straight year of negative…»
Luxury Scottsdale townhome development gets approval, could break ground next year
A luxury Scottsdale townhome development is a step closer to breaking ground. Updated site plans were unanimously approved by the Scottsdale Development Review Board during a Nov. 20 meeting. The Arden is a 23-unit project luxury townhome project that’s set to rise on roughly an acre of vacant land at North Miller and East McKellips roads, just minutes from the Indian Bend Wash Greenbelt. The project will include five three-story buildings, with…»
Empty Tempe shopping center to become affordable housing. What to know
Tempe City Council approved a plan that will include demolishing a vacant shopping center to clear the way for a new apartment complex and small grocery store at a meeting in early November. Tempe owns the land, located at Apache Boulevard and Dorsey Lane, at a light rail stop. When the former Food City store at the site closed in 2021, the city bought the site with the intent of seeking a developer to build affordable housing there. The city selected Dorsey Development…»