Commercial Real Estate & Business News – May 1, 2017

Arizona State University real estate expert Mark Stapp says commercial real estate brokers are optimistic about President Donald Trump's moves to cut regulations and the push to cut corporate, personal income and investment taxes...»

The Phoenix Office market ended the first quarter 2017 with a vacancy rate of 15.4%. The vacancy rate was up over the previous quarter, with net absorption totaling positive 595,408 square feet in the first quarter. That compares to positive 740,287 square feet in the fourth quarter 2016. Vacant sublease space increased in the quarter, ending the quarter at 1,235,864 square feet...»

 

Last week, the Census Bureau said American homeownership was 63.6% in the first quarter, down a bit from the fourth quarter of 2016 but up from a year ago, which is economists' preferred way of gauging the data...»

Consumer optimism increased slightly in April, jumping just 0.1 percentage point, according to the Survey of Consumers conducted by the University of Michigan. The Index of Consumer Sentiment increased to 97 in April, up 0.1% from 96.9 in March and 9% from 89 in April last year. However, it is down from the beginning of April when the index increased to 98...»

Wednesday afternoon the White House released what it is calling a "first draft" of President Donald Trump's promised tax-cut plan. The outline, which fits on a single page, largely adheres to pledges Trump made on the campaign trail, as well as to the details that have slipped out in the frenzied days leading up to the announcement...»

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