Investors continued to buy less commercial real estate in both the second quarter and the first half of 2017 compared to the same periods a year ago, a trend that started in 2016 as steady fundamentals that have resulted in generally robust occupancies and rental rate gains have boosted valuations across most property types.
However, CRE investment sales are still running about 10% above the historical sales volume average over the past 10 years, according to preliminary U.S. investment sales data collected by CoStar's nationwide research team. In the second quarter, preliminary volume fell to $106.7 billion compared with $129.2 billion in second-quarter 2016.
For the first time ever, Asia's economic giant will allow imports of American rice, the U.S. Department of Agriculture announced Thursday. That comes as a welcome signal after annual trade talks between the two nations broke down this week without a concrete outcome. And although it is just a small part of an expansive trade relationship, the rice deal signals that, at least for now, the threat of a trade war is tabled as each side is still engaging the other.Click here to download a pdf of this article, Missile.pdf
The Republican-led U.S. House of Representatives took a new step toward tax reform legislation on Wednesday by approving a fiscal 2018 budget resolution that would allow the Senate to pass a sweeping tax code overhaul without Democratic support.Click here to download a pdf of this article, Missile.pdf
“People say ICOs are great for ethereum because, look at the price, but it’s a ticking time-bomb,” Charles Hoskinson said in an interview. “There’s an over-tokenization of things as companies are issuing tokens when the same tasks can be achieved with existing blockchains. People are blinded by fast and easy money.”Click here to download a pdf of this article, Missile.pdf
House Republicans on Tuesday are unveiling a 2018 budget that ignores Trump’s request for $54 billion in cuts to departments and agencies such as State and the National Institutes of Health. Instead, spending outside of defense would be reduced by $5 billion. The GOP proposal would boost funding for the nation’s defense by $72 billion, $18 billion more than Trump sought.Click here to download a pdf of this article, Missile.pdf
Some 33 states reported lower revenues than initially projected in the latest fiscal year, the highest number of states to come up short since the recession blew a giant hole in state budgets in 2010, according to the National Association of State Budget Officers.
States are also bracing for the potential impact of new policies out of Washington that threaten to put great financial strain on their budgets.
Next week, U.S. Trade Representative Robert Lighthizer is due to outline the administration's goals for the NAFTA talks to Congress and the farm lobby has turned up the heat in the past weeks to ensure that its interests will make Lighthizer's list.Click here to download a pdf of this article, Missile.pdf
The Gymboree Corp., which filed for Chapter 11 bankruptcy reorganization, announced it intends to close approximately 350 stores, mainly across its Gymboree and Crazy 8 brands.
The San Francisco-based apparel retailer operates more than 1,300 specialty stores under three brands: mid-level Gymboree, higher-end Janie & Jack and Crazy 8, a value-oriented line.
"As Washington fails to deliver on those two priorities small-business optimism is dropping," said Juanita Duggan, president of NFIB. "Gridlock is driving down small-business optimism, which will eventually drive down the economy."Click here to download a pdf of this article, Missile.pdf
Almost 19 percent of people 65 or older were working at least part-time in the second quarter of 2017, according to the U.S. jobs report released on Friday. The age group’s employment/population ratio hasn’t been higher in 55 years, before American retirees won better health care and Social Security benefits starting in the late 1960sClick here to download a pdf of this article, Missile.pdf
© 2015 R.J. O'Brien & Associates LLC
Futures trading involves the substantial risk of loss and is not suitable for all investors. Past performance is not indicative of future results.