Commercial Real Estate & Business News – May 10, 2016

The economic data released last week was mixed but mostly positive. The growth in employment for April was a disappointment compared to the trend of the last 12 months and bears watching. Labor force participation also dipped slightly, reversing gains from prior months. However, credit card spending and motor vehicle sales were up significantly, which points to both improved consumer confidence and strength in the labor market. Also, manufacturing has expanded for the second consecutive month... Read more »
It’s no surprise to hear that the Phoenix-Mesa Greater Metro area is currently undergoing billions of dollars of development--anyone that drives around can see the money being spent: buildings going up, old facilities being renovated, new facilities being created from nothing. Coming along with this development has been the rise of the ‘Master Planned Community’, as they call it... Read more »
Grand Canyon Education Inc. (Nasdaq: LOPE) plans to spend $180 million in construction projects this year, but that number is expected to drop as supply finally catches up with demand. The Phoenix-based operator of Grand Canyon University spent $49.8 million during the first quarter of 2016... Read more »
More people are renting than buying these days and they’re not just millennials. Renters occupied about 36.3% of households last year, the highest figure in a decade, according to a new Census Bureau report out last week. At the same time, homeownership dropped to 63.6% compared to 69% ten years ago. This uptick in rentals (and drop in homeownership) is often attributed to millennials who are putting off life’s big milestones. The data, however, paints a slightly different picture: Individuals in their mid-30′s to mid-40′s are more likely to be living in rentals today than they were a decade ago... Read more »
Home prices have risen sharply in many parts of the country, and bargains are hard to find. However, the largest owners and managers of single-family rental homes continue to improve their property management in markets where they own properties. They also continue to make strategic acquisitions to fill out their portfolios...Read more »

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