Yardi Matrix: LA’s Live
Despite only moderate growth in some of its major industries and a declining middle class, Los Angeles experienced among the best rent growth in the country last year.
Economy Watch: Construction Spending Sees Uptick in January
The Census Bureau reported that U.S. construction spending during January 2016 came in at an annualized rate of about $1.14 trillion.
Warren Buffett, Optimist
Warren Buffet makes a case for long-term optimism about the U.S. economy.
Yardi Matrix: Seattle’s Spirit
Buoyed by its technology sector and the metro’s appeal as a live-work-play environment, Seattle’s economy and multifamily market continue to break new ground.
GDP Estimate Up, So is Personal Income
February ended with a modicum of good news for the U.S. economy.
The Economy Suffers an Assortment of Setbacks
During the last week of February there were further indications that the U.S. economy is stumbling.
Economy Watch: Golden State Real Estate’s Golden
According to Allen Matkins-UCLA Anderson Forecast Commercial Real Estate Survey Spring 2016, there is once again a demand for real estate development in California.
Economy Watch: E-Commerce Continues Its Upward Trek
The Census Bureau reported this week that U.S. e-commerce retail sales were up 2.1 percent in the fourth quarter of 2015, compared with the third quarter.
Top 10 NYC Multifamily Sales in January 2016
The data is in! New York City multifamily real estate rocketed into 2016, with numerous eight-figure-plus sales. Manhattan, Brooklyn and the Bronx all jockeyed for the spotlight. Check out PropertyShark’s list of the top 10 most expensive multifamily deals recorded in NYC in January: 10. 4002-4004 & 4014-4016 Carpenter Ave., The Bronx Sale Price: $15,900,000 Buyer: Nysandy12 Cbp5 LLC Seller: Ecp Carpenter LLC The Real Deal reports that these two properties are part of a a much larger portfolio acquisition. In a partnership between Related and the New York City pension funds, a total of 737 Bronx apartments are being…
Market Pulse for March 2016
Market Pulse section compiled by Suzann Silverman. To comment, email ssilverman@cpexecutive.com. Multifamily Starts: In December 2015, housing starts of buildings with five or more units gave back a portion of the gains made in November 2015. After growing from 344,000 to 378,000, a 9.9 percent increase, between October and November, housing starts of buildings with five or more units fell by 3.4 percent to 365,000 over the month of December. Despite the one-month decline, the number of housing starts of buildings with five or more units in 2015, 385,000, exceeded the level in 2014, 342,000, by 12 percent. Since reaching…