Commercial Real Estate & Business News – July 27, 2017

SAN FRANCISCO-With concerns in the air about overbuilding in some markets, the flip side is undersupply, which may be considerably more widespread. A new report from Apartment List says that only 10 of the nation’s 50 largest metro areas have produced enough new housing to keep pace with job growth in recent years…»
Since the past eight months, real estate experts have been bracing themselves for a comprehensive reform of the U.S. tax code. “Tax reform, done correctly, has the potential to spur economic growth that will help all sectors of the economy, including housing,” says J.P. Delmore, tax lobbyist and assistant vice president with the National Association of Home Builders (NAHB)…»
The Greater Phoenix industrial market posted strong performance in the first half of 2017 and all indicators point to an acceleration of activity in the final six months of the year. The predictions are part of the second quarter industrial market report from Colliers International in Greater Phoenix…»
Mesa has been ranked the most conservative city in the U.S. with a population over 250,000. The finding by Pew Research Center will appear in an upcoming issue of the American Political Science Review. The top five conservative cities were Mesa; Oklahoma City; Virginia Beach, Virginia; Colorado Springs, Colorado; and Jacksonville, Florida…»
New home sales increased in June by 0.8% from May and 9.1% from last year to 610,000 sales annually, however this growth will be limited if homebuilders don’t start to produce homes buyers are calling for. While new home sales increased over the past two months, one expert explained they will be limited if builders don’t start selling homes to first-time homebuyers…»