Job 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…
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Mounting inflation pressure, a severe labor shortage, supply chain issues, and emerging COVID variants cloud the CRE landscape…
Read MoreConsumer spending sturdy last month. Unfazed by the end of federal unemployment benefits and other dissipating stimulus, core retail sales increased 0.7 percent in September and 13.5 percent from the same period last year. Although inflation, which climbed 0.4 percent last month, was a contributing factor to the rise, the overall spending picture remained brighter than anticipated…
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Elevated prices for Multifamily and Industrial is unsurprising as both asset types registered strong rent growth and falling vacancy. Suburban Office prices are driven more by the future outlook…
Read MoreHiring slows again in September. The complete expiration of federal unemployment insurance did not translate into accelerated job growth last month as the health crisis continued to present challenges. Employers added 194,000 personnel to payrolls in September, barely above the monthly average…
Read MoreTight multifamily vacancy supports permit surge. Across residential sector, permit activity climbed in August. The rise was mostly attributed to multifamily, as flings for single-family houses remained relatively in line with preceding months. Meanwhile, apartment permits soared 15 percent month over month…
Read MoreCore retails sales reverse course in August. Shoppers remained active at the end of the summer, driven by online spending and back-to-school sales. Overall, core retail sales increased by 2.0 percent between July and August, largely due to an increase in nonstore spending of 5.3 percent…
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