Here are the news articles you might find interesting today for commercial real estate and business:
To view the Wells Fargo Monthly Economic Update for February 2013, click here…
Capital Economics: Rise in Household Wealth to Boost GDP With the increase in home and equity prices, Capital Economics suggests net household wealth may be on its way to rising above pre-recession levels later this year, which will lead to a boost to GDP. “This wealth effect should continue to boost the economy in future years too, although by not as much,” the analytics firm stated in a recent report. View article…
Phoenix Sky Harbor traffic declines in 2012 Passenger traffic at Phoenix Sky Harbor International Airport totaled 40.42 million in 2012 — down slightly from 2011 when 40.59 million passengers flew in and out of the airport. The 2012 totals are up from the years of the Great Recession (2008, 2009, 2010) but are down from 2007 when a record 42.18 million passengers used the airport, according to the Phoenix Aviation Department, which owns Sky Harbor. View article…
AMR, US Airways delay meeting on merger The boards of American Airlines parent AMR Corp. and US Airways have pushed back meeting on plans to consider a final merger, Associated Press sources say. A source close to the matter says the AMR board wants to meet in person, and that the US Airways board would only meet after the AMR board approves a deal. View article…
Fitch: CMBS Delinquencies Fall Again; Georgia Remains ‘Problem Spot’ The national delinquency rate for commercial mortgage-backed securities (CMBS) began the year with another decline, marking the eighth consecutive month of decreases, according to Fitch Ratings. The rating agency, however, noted regional struggles in Georgia. “Offsetting the positive movement in overall delinquencies is Georgia, which continues to be a problem spot,” Fitch said. View article…
HOUSING:
Luxury Condos Planned for Sterling at Silverleaf Sterling at Silverleaf, best-known for its multimillion-dollar, single-family homes with environmentally friendly components, will also offer 213 luxury condominiums. Construction on the condos is scheduled for Q4 2013. The condos, which are part of the property’s third phase, will average approximately 1,892 square feet in size. View article…
Phoenix-area housing: Today’s land sales, tomorrow’s growth Steady improvement in metro Phoenix’s new-home market has developers and homebuilders scrambling to buy property for dozens of new subdivisions projected to spring up over the next few years. Their land purchases offer a road map for population growth in the region for years to come. Where houses are planned, schools, retail and service businesses and other employers soon follow. Mesa, Gilbert, Chandler and Queen Creek, along with north Peoria, are the hottest spots for new-home sales now, but Surprise, Buckeye and Goodyear are expected to move up quickly. View article…
Homebuyer Interest Off to Strong Start in 2013 Homebuyer interest got off to a strong start in 2013, according to Redfin’s Real-Time Demand Pulse for February. The report, which reflects data for January, shows the number of Redfin customers requesting home tours rose 57.9 percent in January, up from 52.0 percent at the same time in 2012. View article…