March 24, 2020

U.S. stocks had the best day in almost a dozen years as investors rediscovered their appetite for risk with Congress closing in on an unprecedented spending bill to prop up the slumping economy. The dollar halted a 10-day winning streak. The S&P 500 rebounded

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Retailing in the digital age transformed itself to compete with the likes of Amazon, but as a result, this industry is better prepared to perform during the current health crisis. Although no one could have imagined the way the current health crisis would have such a profound impact

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During the longest economic run in U.S. history, the low, slow growth flummoxed economists across the board. Predictions of an impending recession kept being pushed further away as inflation remained in check and money stayed cheap along with labor and energy. But none of the predictions

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Across the United States, schools and businesses have shut down in an effort to prevent the spread of the coronavirus. But instead of hunkering down on the couch and binge-watching sitcoms, many Americans are learning at home, hanging out with friends

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Some investors are seeing opportunity in the current state of the market. Specifically, long-term private investors are seeing a potential pricing adjustment and opportunity for portfolio growth. Atlas Real Estate, a firm focused on providing financial autonomy

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March 23, 2020

The market continued its downward trajectory on Monday in spite of a sweeping pledge from the Federal Reserve to support the economy as coronavirus shutdowns accelerated around the country. With consumer spending crippled by “stay at home” orders, many workplaces

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The multifamily housing industry is mobilizing to help residents and employees as the novel coronavirus (COVID-19) outbreak continues to escalate nationwide. Property owners and managers across the nation are putting plans in place to assist their residents

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In an extraordinary move to keep credit lines open, the Federal Reserve announced Monday morning that it would not put a cap on its purchases of Treasury and mortgage securities. It also said that it would begin purchasing CMBS that are issued by the GSEs, keeping the flow of capital to apartment buildings open. This is the first

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The outbreak of coronavirus has already had swift effects on several business sectors around the country, and the commercial real estate industry is looking for ways to best prepare for immediate issues such as tenants unable to pay rent, possible construction delays

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It’s been a week since I wrote the last MMQ. It seems like a lot longer ago than that. The changes that occurred this past week in response to the Coronavirus have really changed the world for most people. The number of Covid-19 cases are still expanding

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March 21, 2020

The coronavirus pandemic is causing some homebuilders to close their sales offices in the Valley at a time when low mortgage interest rates are creating a window for homebuyers.
Given the current COVID-19 pandemic, Scottsdale-based

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Banyan Residential announced the start of construction on the long-anticipated Scottsdale Entrada development this morning. Located at the northeast corner of 64th Street and McDowell Road, Scottsdale Entrada will revitalize a long-vacant 33-acre lot

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Arizona’s technology scene continues to grow and a new report shows increases in the number of tech jobs, wages and average pay in the past year. The Arizona Technology Council’s quarterly Arizona Technology Industry Impact Report shows that in Q4

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In what could be the end of its upward trend as the coronavirus outbreak rages on, cap rates in Phoenix compressed across nearly all asset classes in the second half of 2019. According to a new report from CBRE, multifamily, industrial, retail and hotels all saw reduced cap

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Walmart today announced plans to provide a special cash bonus for hourly associates for their hard work and dedication to serving customers in a time of an unprecedented national health crisis. The bonus is for all U.S. hourly associates in stores, clubs, supply chain

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March 19, 2020

The city of Casa Grande hit a real estate milestone today, as oil and gas company Nacero Inc. said it would build a $3.3B gas production facility there. Considered “drive-through” country between Phoenix and Tucson, Casa Grande is part of the fast-growing Interstate 10 business

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Mesa, Chandler and Gilbert were once viewed as sleepy bedroom communities. Today, they’re evolving into cutting-edge hubs of innovation and home to some of the most forward-thinking, technology-driven, innovative companies in the nation. Tempe, once seen as a raucous college

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The medical office market in Phoenix has seen increasing demand, with a falling vacancy rate since 2012. In the West I-10 submarket, the vacancy rate is as low 4%. However, this year, the vacancy rate is expected to increase, not because of the pandemic, but because new construction projects expected to deliver

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Mortgage rates could dip again, after recent moves by the Federal Reserve to prevent a coronavirus-led recession. Market watchers say the Feds announcements Sunday to cut interest rates to 0% and begin purchasing $200 billion in mortgage-backed bonds

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Metro Phoenix renters facing eviction could stay in their homes until at least early April. Due to the coronavirus crisis, Maricopa County Justice Courts have asked justices of the peace to delay eviction hearings. Nearly 2,000 Valley residents are facing

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March 18, 2020

As the impact from the measures to stem the spread of COVID-19 takes hold of virtually every sector of the U.S. economy, real estate economists are revisiting their predictions for 2020 made at the beginning of the year. Just over two months ago, industry economists

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Many industries are being hit hard by the effects of the COVID-19 pandemic, with many employees working remotely and businesses like restaurants and bars offering carry-out only. One industry that needs employees on-site is the construction industry, which is still up and running

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In the first month of the year, Phoenix employment growth was off to a promising start. But that was before the coronavirus pandemic. Before the black swan event occurred, the economy was on solid footing. Phoenix employment expanded 3.2% over the past 12 months, with the addition of 67,800 jobs

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Hines, the international real estate firm, together with funds managed by Oaktree Capital Management, L.P. (“Oaktree”), today announced they have closed on the property for the future development of two speculative industrial buildings, each 569,520 square feet in size

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Mortgage lenders Fannie Mae and Freddie Mac will suspend foreclosures and evictions for at least 60 days as federal and business leaders respond to the growing COVID-19 crisis that will cost people their jobs and likely tip the economy into a recession

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