Commercial Real Estate & Business News – December 18, 2014

The latest CoStar Commercial Repeat Sale Indices (CCRSI) continued to track the upward progress of property pricing trends, with commercial property values boosted by minimal speculative construction, a firming economic recovery and the combination of rising rental rates and low benchmark interest rates, such as the 10-year Treasury, which continued to decline in October… Read more »
Professional services that have traditionally led demand for office space, including finance, insurance and real estate, have finally made a comeback after a slump following the recession. Office market experts hope that the sectors, collectively referred to as FIRE, will now join with the tech and energy industries to heat up office demand in primary cities in 2015… Read more »
Overall, the forecast predicts that national economy will grow at 3% and the unemployment rate will decline to about 5%. The national economy will generate 200,000 to 260,000 jobs next year with employment compensation increasing to 3.2% in 2015 and 3.9% in 2016. California’s unemployment rate will decline steadily throughout 2015, meaning that by the end of 2016, it will be nearly identical to the national unemployment rate at 5.3%. Personal income will grow by 4.5% over the next two years, and payrolls will continue to grow steadily…Read more »
However, after commercial real estate underwriting standards eased for the third consecutive year in a row according to the Office of the Comptroller of the Currency’s 20th Annual Survey of Credit Underwriting, some are beginning to be concerned that perhaps lending standards are becoming too accommodating… Read more »
Commercial and multifamily mortgage debt reached a record high in the third quarter, the Mortgage Bankers Association said Tuesday. The 1.1% increase in outstanding debt brought the total to $2.59 trillion, with multifamily mortgages accounting for more than half the quarterly increase… Read more »