Commercial Real Estate & Business News – May 26, 2020

ULI forecast: Pandemic-induced Recession Will be Short, but Many Unknowns Remain
The Urban Land Institute’s latest Real Estate Economic Forecast shows that, while the COVID-19 crisis has sent shockwaves throughout the world, U.S. real estate economists are predicting some light at the end of the tunnel, with a short-lived recession…»
National Multifamily Report – April 2020
National rent growth is beginning to show signs of weakness, with April rent growth increasing only 1.6 percent year-over-year. According to a Yardi Matrix report of 127 markets, national rent growth has reached its lowest point since October 2017…»
Poll: Less Than Half of Arizonans Think We Have Enough Affordable Housing
One in three Arizonans doesn’t believe there is enough affordable housing in their communities, according to a new ASU Morrison Institute-Arizona Republic poll. Some 40% of 813 residents polled in late April and early May are satisfied there is enough…»
Greenlight Communities Breaks Ground on New Apartments in Scottsdale; Offering Affordable Rents As Rising Housing Costs Challenge Renters
Scottsdale-based Greenlight Communities has broken ground on an 89-unit community, Cabana on Hayden, which will offer Scottsdale residents brand new, affordable and centrally located rental homes. Cabana on Hayden is located at Hayden Road and Oak Street, with construction…»
Are Mortgage Rates About to Fall Below 3%
Until about three months ago, it was basically unthinkable that interest rates would ever fall below their record low of 3.31%, which was set in November 2012. But then the coronavirus happened. And as the virus was wreaking havoc on the world and its economy, interest rates not only broke that record…»