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Commercial Real Estate & Business News December 31, 2019

For the First Time in History, the US Economy has Started and Ended a Decade Without a Recession There’s a saying among economists that “expansions don’t die of old age.”In the case of the American economy over the past decade, it rings true. As of December, the U.S. economy has expanded for a record 126 straight months, the longest time period in the country’s history according to the National Bureau of Economic…»
5 CRE Predictions for 2020
No one truly knows what the future will hold, but it doesn’t stop us from trying. Experts have stated their opinions of where the commercial real estate (CRE) market will go next year. Here are my five CRE predictions for 2020. The Federal Reserve took drastic measures in 2019 to keep our country out of a recession, including lowering…»
Fannie Mae Boosts 2020 Housing Forecast ‘Significantly’
Strong reads on the economy have researchers at mortgage giant Fannie Mae revising their 2020 housing forecast much higher. Fannie Mae’s Economic and Strategic Research Group predicts builders will expand production more than previously expected, due to a strong labor market and robust consumer spending. Low mortgage rates…»
‘Advanced Industries’ Grow Phoenix Economy at Double the US Rate
Phoenix’s economy grew by nearly double the rate of the rest of the country in 2018, according to new data from the U.S. Bureau of Economic Analysis. Job growth in “advanced industries” gets the credit – technology, health care, manufacturing and business and financial services – for the 4.5% increase, according to Eric Jay Toll with Phoenix Community and Economic…»
Arizona Wages are 5% Higher Than They Were a Year Ago
Arizonans continue to take home more money. New figures Thursday from the state Office of Economic Opportunity show that wages here are 5.4% higher now than they were a year earlier. That compares with a 3.2% year-over-year growth for the country as a whole. Arizona wages still lag behind the rest of the country, with average hourly earnings here at…»