While the U.S. job recovery is in full swing, it has not been equal across all metro areas. Strong variation across metro areas depend heavily on factors including affordability and tourism…
Read More
New home listings elevate, but dynamics tell a different story. In the month of October, the number of new homes available for purchase soared to a height last witnessed in late 2008 as the market adjusted to the housing bubble. Nonetheless, the for-sale count is enlarged by houses still in planning phases, masking the nature of the current environment…
Read MoreConsumer spending healthy in October. Core retail sales, which excludes gasoline and motor vehicles, rose 1.4 percent last month. Year over year, the increase was 14.9 percent as shoppers are flush with capital from pandemic-relief bills and the economic recovery that has pushed unemployment…
Read More
he big question on many investors’ minds - “Is a bubble forming in CRE?” From a macro level, Retail, Urban Office, and Suburban Office are not in a bubble. These assets have experienced moderate price growth and fundamentals that keep pace with price gains. While apartment values have climbed considerably…
Read More
Since COVID, the Fed has been buying $120B per month of bonds and MBS/CMBS to support market liquidity, backstop lending and encourage economic growth. Per Jerome Powell’s announcement last week, the central bank will reduce purchasing…
Read MoreJob creation picks back up. After a slowdown in August and September, hiring improved in October as 531,000 personnel were added to staffs. A downshift in the number of coronavirus infections and the expiration of federal unemployment benefits likely contributed to the greater job creation…
Read MoreEconomic recovery downshifts in third quarter. GDP expanded at a 2.0 percent annualized rate in the third quarter as myriad headwinds weighed on growth. Supply chain issues are hampering consumption despite a record level of savings. Additionally, government stimulus from early 2021 that fueled personal expenditures in the second quarter have largely dissipated by the third quarter…
Read More