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Commercial Real Estate & Business News – December 28, 2017

President Trump signed the new Tax Cuts and Jobs Bill on Dec. 22, effectively putting the final seal of approval on the most substantive tax law changes that the country has seen in 30 years. It may take some time to crunch the numbers to determine just how much tax savings the new tax bill could generate for commercial real estate investors. The general view is that provisions specific to property owners and developers will deliver a net positive…»

Existing-home sales and price growth in the single-family sector, including for-sale apartments, are expected to slow in the coming year, the National Association of Realtors said Wednesday. The forecast of a slowdown is due mainly to homeowners’ diminished ability to claim deductions under the tax reform bill signed into law last week by President Trump. …»

It should come as no surprise that U.S. department stores fared, for the most part, much worse than their other retail peers in 2017. Faced with the rise of internet shopping hubs such as Amazon, the threat of fewer consumers going to malls to make purchases, a glut of unsold and out-of-style inventory, and big debts coming due…»

The real estate market benefited from inexpensive financing and a significant supply of equity capital in 2017. Despite the slowdown in rent growth, increase of supply and the new tax reform, investors should benefit from stability in the coming year as well. Doug Imber, co-founder & president of Essex Realty Group, discussed his predictions for the next 12 months. …»

Americans are ending 2017 feeling very good about the economy. Consumer confidence hit 122.1 in December, slightly below the 17-year high set in November, 128.6, according to the Conference Board’s index released Wednesday. “Despite the decline in confidence, consumers’ expectations remain at historically strong levels, suggesting economic growth will continue well into 2018,”…»