Commercial Real Estate & Business News – December 31, 2024
2024 Employment Picture From November 2023 to November 2024, the total number of jobs decreased by 693,000, marking a 0.42 percent decline in total hires. Within the same timeframe, the total number of unemployed grew by 881,000, marking a 15.1 percent uptick in job losses…» Cavasson Keeps Growing Near Axon Remember all those 1950s sci-fi […]
Commercial Real Estate & Business News – December 30, 2024
Council Approves Long-Bashed Mercado Village Project And the “If At First You Don’t Succeed Award” goes to … If there was such an award in Scottsdale, few could argue it going to Mercado Village. By a 6-1 vote Dec. 4, City Council gave the project on Shea Boulevard and 92nd Street – across from HonorHealth […]
Commercial Real Estate & Business News – December 23, 2024
Economy was even stronger than it looked in the third quarter, GDP shows. Thank consumers The CRE industry has been monitoring bank lending — particularly delinquencies, net charge-offs, and criticized loans. While all are important, it’s worthwhile to examine originations. They seem on the mend. Trepp looked at trends in its Trepp’s Anonymized Loan-Level…» Only […]
Commercial Real Estate & Business News – December 20, 2024
Economy was even stronger than it looked in the third quarter, GDP shows. Thank consumers The shocking strength of the economy helps explain the Federal Reserve’s Scrooge-like plans for interest-rate cuts next year. And the latest update on GDP over the summer offers another reminder. The U.S. economy expanded at a frothy 3.1% annual pace […]
Commercial Real Estate & Business News – December 19, 2024
Fed cuts key interest rate but signals elevated inflation is likely to persist The Federal Reserve announced a quarter-point cut to its key interest rate Wednesday, an effort to keep what appears to be a steady but cooling economy stable. The move, the Fed’s third rate cut of the year, reduces the central bank’s target […]
Commercial Real Estate & Business News – December 18, 2024
Phoenix retail leasing volume accelerates to decade high Leasing volume is ramping up in the Phoenix retail market as sustained demand and an uptick in for-lease inventory encourage deals. The second and third quarters of 2024 each recorded an average of about 2.2 million square feet of new retail leases, marking the strongest…» Office, Multifamily […]