Commercial Real Estate & Business News – August 23, 2017

In the wake of tough talk from President Donald Trump toward North Korea and Senate Majority Leader Mitch McConnell, Sen. Jeff Flake, a Republican and sometimes outspoken critic of the president, says he’s willing to give him “a little space.” The gradual, if not spectacular, recovery in recent years has pushed economic stories and reports out of the limelight. “Across the U.S. and especially out West, there has been a full recovery from the housing crash and recession,” said John Williams, the Federal Reserve’s top official in the West…»
There is a 73% chance the next recession in the United States will begin by the end of 2020, according to a panel of economic and housing experts but the property market is unlikely to be hammered. Those taking part in the third quarter Zillow home price expectations survey don’t expect the housing market to play as big a role as in past recessions. Instead, they anticipate a geopolitical crisis could trigger the next recession…»
Rents are a cost-burden for younger Americans, as might be expected, but also older generations who rent, according to a new report by Abodo. The firm analyzed Census Bureau data to determine renter cost burdens in the 100 most populous MSAs, then divided the data into the three generation groups based on the age of the renter. Of the 65.5 percent of millennials who rent, 46.5 percent spend more than 30 percent of their income on housing costs…»
PHOENIX – Eight months into 2017, we’ve had more than 50 restaurants either open their doors for the first time in the Valley or open second, third, and fourth locations. The openings include everything from modern Japanese cuisine to Chicago deep-dish pizza, Mexican cuisine, Hawaiian-inspired poke, and fast-casual breakfast joints. What can we expect for the rest of the year and into 2018? So far, we’ve found more than 40 restaurants with plans to open around the Valley…»
Sprint (NYSE:S) continues to expand its presence and investment in the Southwest with plans to add 44 new retail locations throughout parts of Arizona, Colorado, Nevada, Utah and West Texas by the end of 2017. New jobs for about 300 people will include a combination of retail, operations and technical experts. Currently, Sprint counts more than 2,250 regional employees, inclusive of employees in Idaho and New Mexico, and operates nearly 400 branded retail locations throughout the Southwest region…»