Expect The First Interest Rate Increase In 9.5 Years
It was a good week for the economy. The employment news was good, not only because the October numbers were well above expectations, but, August employment was revised upward. In addition the unemployment rate declined to 5.0% and the underemployment rate broke the 10% barrier. In addition, consumer credit data strongly confirmed the strength of the consumer. And while manufacturers? new orders were slightly down, the ISM manufacturing index still… Read more »
A Push To Give Mexican Shoppers Access To Phoenix-area Stores
Walking through Arizona Mills in Tempe announcements of sales can be heard echoing out of the outlet stores first in English, then in Spanish. ?I?m buying clothes for myself, my husband and my three kids,? said Rosela Figueroa, a shopper from Cananea, Sonora. ?They are all back home.? She carries big bags stuffed with clothes and shoes from from Ross, Forever21, Express and Famous Footwear… Read more »
Fed?s Rosengren Sees Possible Bubble In Commercial Real Estate
Eric Rosengren, the president of the Boston Fed, said Monday he is worried about the rapid rise in commercial real estate prices, becoming the latest U.S. central banker to be worried about financial stability concerns in the real estate sector with interest rates close to zero. Financial stability concerns appear to be on the rise at Fed. Last month, San Francisco Fed President John Williams also said he saw signs of imbalances showing up in real estate prices… Read more »
Does the Seniors Housing Sector Have Stamina to Absorb New Construction?
It is hard to believe that the U.S. business cycle is in its seventh year of expansion. The recovery from the deepest recession since the Great Depression has been filled with fits and starts and has generally been perceived as lackluster. Still, relative to the rest of the world, the U.S. expansion since 2009 has been solid. Job gains have averaged 201,000 per month since 2011 and there are 4 million more Americans employed today than at the prior job peak in 2008… Read more »
Caution: Multifamily Vacancies are Flat, and Supply is Rising
Ryan Severino, senior economist at Reis, pulls no punches in offering up a contrast to today?s exuberance at this year?s Economic Forecast session at the Multifamily Executive Conference. ?I?m not trying to be the grim reaper, but the reality you find when you look at the data is often far more nuanced and often counter-intuitive than what you?re going to read in the Wall Street Journal”… Read more »