Commercial Real Estate & Business News June 5, 2019

U.S. Economic Expansion Has Clear Runway to 2021, Says Wells Fargo Economist The current U.S. economic expansion – 120 months and counting – is poised to become the longest in modern U.S. history come July. Mark Vitner, senior economist at Wells Fargo Securities, says the runway is clear for additional growth until at least 2021 before the start of the next recession. The last time the U.S. economy expanded for such a…»
Fed Ready to Act if Economy Worsens, Powell Says
Federal Reserve Chairman Jerome Powell said the central bank is watching current economic developments and will do what it must to keep the near-record expansion going. Financial markets have been nervous lately over an escalating trade war that has spread from China and now could include Mexico. At the same, government bond yields are…»
The Monday Morning Quarterback
The big news last week was President Trump’s threat to impose substantial tariffs on Mexico until they helped stem the migrant surge. This was deemed by the President to be a national security issue. Such an increase in tariffs, starting next week at 5% and ratcheting up to 25% by October, would clearly hurt consumers. We are Mexico’s largest buyer of…»
Home Prices Will Increase 4.7% in the Next Year, Says New CoreLogic Estimate
Home prices will increase by 4.7% from April 2019 to April 2020, according to a new CoreLogic estimate. That will be a faster pace than the 3.6% gain in the prior year, the report said. CoreLogic’s projection is above forecasts by the Mortgage Bankers Association, Fannie Mae and the National Association of Realtors. MBA forecasts a 4.2% gain for…»
Phoenix Property Taxes Expected to Go Up Despite Lower Proposed Rate
The Phoenix City Council is planning to reduce the property tax rate, but that doesn’t mean residents should expect smaller bills. According to a Truth in Taxation notice published Monday as required by state law, property owners in the city will see an average tax increase of 3% if the proposed change is adopted. “Because of assessed valuation growth, as…»