Commercial Real Estate & Business News – July 28, 2021

Hiring in the second quarter of 2021 narrowly beat economists’ expectations. In normal times, this would cause few changes to economic projections. But these aren’t normal times. Widespread vaccine deployment in the late spring led to improved health conditions, buoying expectations for recovery over…»

PHOENIX—Once a poster child for the foreclosure crisis, Phoenix’s housing market is booming again, boosted by robust population growth and relative affordability. Phoenix was a hot market before the pandemic, and it has been a major beneficiary of new remote-work policies, as workers in expensive cities decided to…»

In the second half of 2020 and the first half of 2021, roughly 363,000 rentals were delivered. Marcus & Millichap says this was the largest completion volume over a four-quarter stretch in at least two decades. The deliveries weren’t uniform throughout the nation. In fact, almost one-third of…»

Buoyed by positive headwinds in the market, multifamily loans will be well-positioned for refinance and sale transactions this year. Predictions of either distress or disruption to the sector have failed to materialize this year, despite eviction bans and foreclosure moratoriums initiated early in the COVID-19 pandemic⁠—and experts from…»

Lucid Motors’ factory complex is in Pinal County. The county in which it is located was incorrect in an earlier version of the article. The Arizona manufacturing sector could benefit to the tune of billions of dollars from the successful merger and stock listing of an emerging electric car company. Lucid Motors, which produces a...»