Commercial Real Estate & Business News – December 3, 2020

Arizona Treasury Department Optimistic Into 2021
Despite the pandemic’s devastation to state and local businesses this year, Arizona’s economic outlook in 2021 is fairly strong — at least, according to the office that manages the state budget. “Housing market continues to have impressive gains, up 11%, year…»
Arizona Economy Could Withstand Brief Shutdown, Economist Says
PHOENIX – Arizona’s financial resources could survive a short shutdown to slow the spread of the coronavirus, a Valley economist said, but any longer could be a problem. “If we shut down and it’s just going to be three weeks, I don’t think you’re…»
Lenders Remain Optimistic About Multifamily Sector
Fannie Mae, Freddie Mac, and the Department of Housing and Urban Development have provided stability for multifamily investors and owners during the COVID-19 pandemic and the economic downturn. “The key takeaway on the debt side of the equation…»
What Makes a Hotel Suitable for Conversion?
The lodging industry is still facing various challenges amid the COVID-19 pandemic. Being a people-centric, travel-dependent industry, it’s without a doubt that hotel owners and investors are starting to think more strategically about where the future of their assets lies…»
The Downside of the Hot 2020 Housing Market: Rapid Home-price Growth
Demand for housing was strong in early 2020, before the COVID-19 crisis hit. Mandated shut-down measures and the fear of what COVID would do to our economy temporarily immobilized the housing market, evinced by nine weeks of declines in the weekly…»