Anna Spiewak
Economy Watch: Jobs Created Across Economic Sectors; Income, Federal Deficit Drop
A number of major sectors of the economy created jobs in November. Personal income decreased 0.1 percent in October compared with September. And the federal government ran a budget deficit of $231 billion for the first two months of fiscal year 2014 – October and November of this year – which was $61 billion less than the shortfall recorded in October and November of 2012.
Beech Street Capital Refinances 8 Housing Communities for $158M
Beech Street Capital closed a refinancing deal on seven Fannie Mae loans for eight housing commmunities totaling $158 million.
Economy Watch: 200k+ Jobs Created in November; GDP Expands on Inventory Growth
The U.S. economy created 203,000 jobs in November, roughly the same as in October. And the real gross domestic product increased at an annual rate of 3.6 percent in the third quarter of 2013.
Economy Watch: New Home Sales Jump in October; Beige Book: Moderate & Modest Growth, Again; ADP: Strong Employment Gains
New home sales spiked by 25.4 percent month over month in October. Economic growth was described as moderate and modest in the latest Federal Reserve Beige Book. And according to ADP, the private sector created a relatively strong 215,000 jobs.
Retail REITs – Improving Fundamentals Support Stable Credit Outlook for Sector
By Merrie Frankel, Vice President/Senior Credit Officer, Moody’s Investors Service: Real estate fundamentals for retail properties continued to improve this year, with occupancy, leasing spreads and renewals all rising, which bodes well for the credit ratings of retail REITs.
Economy Watch: Home Price Increases Slowing Down; New Car Sales Robust in November; Restaurants Did Better in October
The increase in home prices nationally slowed down in October, rising only 0.2 percent compared with September. New light vehicle sales increased by 8.3 percent in November, compared to the previous month. And the Restaurant Performance Index rose to a four-month high in October.
Craig Meyer: High Velocity Big-Box Market Index: Industrial Takes Off – But Not Everywhere
Warehouses of all sizes—particularly in the 500,000 square feet and larger range—are a hot commodity, and only getting hotter, according to JLL’s Big Box Outlook report. Featuring a new Big Box Velocity Index, the report finds that big box real estate market demand is strongest in traditional distribution corridors, especially in the Northeast, though investment
How will the next round of budget, debt ceiling talks go compared to the last one?
About the same, prepare for shutdown part two(37%) Moderately better, there won’t be a shutdown, but we are looking at a last minute deal (33%) Much worse, pitchforks and torches (12%) Worse, shutdown and debt default (10%) Much better, everyone will be on their best behavior with midterm elections on the horizon(8%)
Federal Effects
It’s been quite a year. From inauguration to sequestration to the extension of quantitative easing to the two-week shutdown, the federal government’s actions have taken the country on an economic roller-coaster ride. While overall the economy has grown and employment has improved, the ups and downs that have occurred along the way have injected at least a twinge of uncertainty into the business sector, real estate included. Certainly, the low interest rates continue to buoy the real estate investment market—however artificially, given the high prices in the most desirable markets. But the dearth of attractive yields is creating a kind…
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