Commercial Real Estate & Business News December 13, 2019

Fed Holds Steady, Signals no Interest Rate Changes Through 2020 The Federal Reserve left its benchmark rate unchanged on Wednesday and signaled it plans to hold steady through 2020, barring unexpected economic news. All the members of the Federal Open Market Committee supported the decision to keep the rate in the 1.5% to 1.75% range, the first unanimous vote since its May meeting. “The committee judges that…»
What Will Arizona’s Economy Look Like in 2020? ASU Releases Annual Forecast
Arizona’s economy is still growing, but growth likely will be slower in 2020 than in the previous two years, an annual economic forecast from Arizona State University predicted Wednesday. Arizona likely will continue attracting new residents at one of the highest rates in the country next year, though that could be a smaller total number…»
How Growth Is Changing Phoenix Neighborhoods
Phoenix leaders like to promote the city being the fastest growing in the country. But growth isn’t necessarily a good thing in the eyes of some residents. It’s a story playing out across the 518 square miles that make up Phoenix. In September, it brought residents from north of Deer Valley 35 miles south to a City Council meeting downtown to…»
Plans Revealed for $157M Valley Office Project on Tribal Land
Palmer Development, the company behind several major projects on the Salt River Pima-Maricopa Indian Community near Scottsdale, has plans for another $157 million office complex on the reservation. The new development, called the Sydney, will be built at the southeast corner of Pima Road and Loop 101, directly south of another planned…»
Zillow: Rents to Stabilize in 2020 at 2% Growth
U.S. renters spent a cumulative $4.5 trillion on rent during the 2010s, according to a new Zillow® analysis. In 2019 alone, renters spent more than $512 billion on housing – the most of any year in this decade. Altogether, renters spent 2.9% more on rent this year than they did in 2018 and 46.5% more than in 2009 ($349.8 billion). The current…»