National
Economy Watch: Gas Prices to Drift Lower
The U.S. Energy Information Agency predicted that the economy—consumers and businesses and anyone else concerned with driving a gas-power vehicle—is going to catch a break next year because of lower gas prices.
TODAY’S DEALS: Berkeley Point Lands $28.5M for Washington Apartment Refinance
Berkeley Point Capital refinances a community in Lakewood, Wash.; Cornerstone closes its third affordable housing fund; and IPA brokers a 220-unit sale in Dallas/Fort Worth.
Economy Watch: Oil Production, Consumption Patterns Seeing Radical Shifts
Improved extraction technology and higher prices are opening up new oil resources, but that doesn’t mean the world is on the verge of an era of oil abundance, according to the International Energy Agency’s 2013 edition of World Energy Outlook.
TODAY’S DEALS: Raia Buys a Tallahassee Apartment for $42.2M
ARA brokers a Tallahassee sale; HFF brokers the sale of 1,130 units in Chicagoland; and NorthMarq secures $17 million for a Houston-area portfolio.
Economy Watch: Some City Budgets Rearch Pre-Recessionary Levels
According to a study released by the Pew Charitable Trusts on Monday, some of the largest U.S. cities have seen their municipal budgets recover from the lows of the recession, when steep drops in tax revenue and other income cut into city coffers.
TODAY’S DEALS: Raia Buys a Tallahassee Apartment for $42.2M
ARA brokers a Tallahassee sale; Steel Castle buys a 296-unit apartment in San Antonio; and Centerline provides $4.5 million to refinance a community in Florida.
Economy Watch: October Job Report Details
The unexpectedly strong employment report for October—204,000 jobs created—spotlighted various positive employment trends for the economy.
TODAY’S DEALS: Tricap, National Equity Buy 354 Luxury Units in Columbus
Tricap Residential Group and National Equity buy two Ohio apartment assets; Charles Dunn Co. completes a 22-unit sale in Santa Monica; and NorthMarq arranges $143.4 million in refinancings for eight apartment loans.
Millennials are ‘Renter Generation,’ Study Reports
When the Great Recession struck in 2008, the Millennial Generation was among the hardest hit. Caught in a plummeting economy characterized by enormous job cuts and limited new hiring, these underpaid and unemployed new-to-the-workforce folks didn’t have the economic wherewithal to move out on their own as previous generations did.
Economy Watch: Jobs Uptick in October
The delayed jobs report for October came out on Friday, with the Bureau of Labor Statistics finding that the economy created 204,000 jobs during the month, an improvement from the September, and more than the average monthly growth for the last previous 12 months of 190,000.