Is the American Dream alive? “[A]s access to homeownership becomes harder and harder for a bigger and bigger share of American people,” is it “time to sever the mental and emotional ties between the American Dream and the aspiration to be a homeowner”? Many think so. But Builder’s John McManus has other thoughts on the matter. http://bit.ly/2ilxyYD
Homeownership rate approaches 64%. “U.S. homeownership rate is at 63.9% in the third quarter 2017, which is statistically unchanged from its last quarter reading of 63.7%… Compared to the peak of 69.2% in 2004, the homeownership rate is below by 5.3% and remains below the 25-year average rate of 66.3%” More from the Census Bureau’s Housing Vacancy Survey at Eye On Housing. http://bit.ly/2gV6BdW
Cash sales retreat as a share of new home purchases. “NAHB analysis of the most recent Quarterly Sales by Price and Financing published by the Census Bureau reveals that cash sales accounted for just 4.8% of the total, down from 6.5% in the second quarter.” Enjoy pie charts? Eye On Housing has one in its “New Home Sales by Financing Source” breakdown. –> http://bit.ly/2zYYtRp
HPI BUZZ – Case-Shiller Index reaches new high. “[A] 6.1% annual gain in August, up from 5.9% in the previous month.” And that’s not all that’s happinin’, people! Builder also rolls out numbers for the 10- and 20-city composites. But before you split the scene and trip on over to scope out all the primo data (including vibes coming outta Phoenix), dig this righteous HPI quote: “Home price increases appear to be unstoppable… Most prices across the rest of the economy are barely moving compared to housing.” Whoaaa! http://bit.ly/2h3lCye
Technology equation that makes Lennar and CalAtlantic combo work.“[E]verything from Lennar’s Everything’s Included floorplan portfolio to its rigorous balance-sheet management systems suggests that its strategic leaders expect data to play a lead role in making the CalAtlantic acquisition work.” Another piece by John McManus, this time in the “housing, innovation, vision and economics” site, HiveForHousing. http://bit.ly/2hvuidq
Fitch, Moody’s bullish on massive Lennar-CalAtlantic merger. “Both Fitch Ratings and Moody’s Investor Service have a positive view of the impact of the pending merger between Lennar and CalAtlantic Group… In brief notes sent Tuesday to clients, Fitch and Moody’s noted the strength and size of the combined company as a significant benefit of the deal.” HousingWire. http://bit.ly/2z4NbM6
Charley Freericks joins Novus Innovation Corridor project. AzBigMediareports that Catellus Development Corporation has added former DMB prez “Charley Freericks to its Arizona office leading the development of the Novus Innovation Corridor at Arizona State University’s Tempe Campus.” Much more on Charley Freericks and the role he’ll have in the development of the 330-acre Novus Innovation Corridor project, right here: http://bit.ly/2z6nTPU
East Valley a strong spot In a strong Phoenix market. In a Phoenix office-market piece that also ends up being a crafty way to plug an upcoming sponsored event, Bisnow spotlights a Kidder Mathews report which names Tempe and Chandler as “[t]wo especially hot submarkets in the third quarter.” As for the event, it’s “Bisnow’s Phoenix State of the Market on Thursday at One Arizona Center.” http://bit.ly/2lBq8oQ
Here’s how infrastructure propels development forward for Arizona.AzBigMedia’s David McGlothlin examines both realized and potential impacts of Valley Metro Rail and the proposed Interstate 11, along with the part Valley Partnership plays in facilitating such infrastructure projects. http://bit.ly/2h2lizE
Phoenix releases 1st progress report on T2050. “[Transporation 2050] was approved by voters in August, 2015 to fund aggressive expansion for the city’s long-term transportation goals.” AZBEX Roland Murphy looks into the report, which details “plans launched and goals met during the Transportation 2050 initiative’s first 18 months of operation.” –> http://bit.ly/2z54ooJ
Overpass groundbreaking set for Nov. 20. “A formal groundbreaking for the construction of an overpass on State Route 347 across the Union Pacific Railroad tracks will take place Nov. 20. A ceremony is set at 10 a.m. at the northeast corner of John Wayne Parkway and Honeycutt Road.” And as long as we’re looking that far down the road, InMaricopa also reports that Ames Construction has “750 days to complete the project,” which, according to our calculation (actually Google’s), puts the opening date for the overpass no later than Tuesday, December 20, 2019. http://bit.ly/2z5UO7u
Cameron’s $5M + deals of the day – http://bit.ly/2A6CeK9
Arizona House now has written policy against sex harassment after complaint. “[Arizona] House Speaker J.D. Mesnard, R-Chandler, has now spelled out on paper behaviors that are off-limits, as well as the procedures that should be followed when a complaint is made… [The] formal policy follows a Facebook post more than a week ago by Rep. Michelle Ugenti-Rita, R-Scottsdale, saying that from the moment she took office in 2011 she experienced ‘unwanted sexual advances and lewd and suggestive comments regarding my body and appearance from male colleagues.’ ” By Capitol Media Services/Howard Fischer in Arizona Daily Star. http://bit.ly/2z4qJCx
Maricopa County elections boss tells voter criticizing mail-in ballot to ‘go F- yourself.’ “When a Goodyear voter complained on Facebook that his Nov. 7 ballot was confusing, Maricopa County Recorder Adrian Fontes insulted him, attacked the voter’s mother and told him to ‘go F- yourself.’ (It’s a “tirade” that had many around Dealmaker HQ wondering if telling someone to go do that would qualify as a violation under Speaker Mesnard’s new policy on “behaviors that are off limits.” Meanwhile, a click-through will get you two, with this RELATED item, also from AZCentral: “Surprise campaign mailer made to look like a newspaper.”) http://bit.ly/2lBreRu
Students march for DACA, against Arizona Attorney General’s lawsuit. “The march was not only a show of support for DACA students but a protest against Arizona Attorney General Mark Brnovich… [who] sued the Arizona Board of Regents for offering in-state tuition to DACA students. Brnovich cited Proposition 300 as the basis for the lawsuit, which says in-state tuition only applies to students with lawful immigration status.” Cronkite News. http://bit.ly/2z9vzk9
South Tucson mayor, council mystify residents with public notice. “South Tucson residents are questioning a recent posting found outside of City Hall announcing the Council’s intent to hold meetings for the ‘sole purpose of strategizing on the campaign for the recall elections set on March 13, 2018.’ ” And ADI reports that, not only does this “Public Notice” mystify residents (one described it as “very odd”), but it also “appears to violate Arizona’s Open Meeting laws.” http://bit.ly/2z3MZip
Pima County Attorney called on to step aside as legal counsel in RICO spending. “[County Attorney Barbara LaWall’s] own use of RICO funds has been questionable [e.g., the approval of two grand in RICO funds for ‘the Greater Tucson Leadership group to fund a retirement party of sorts for former Sheriff Clarence Dupnik’]… [Now, former Maricopa County Attorney Rick Romley] is advising… LaWall to step aside in the RICO spending approval process…. Questions as to who should assist the supervisors in performing a review and approval of RICO spending by the County Attorney’s Office arise from a recent change in Arizona law.” http://bit.ly/2zbDhdt
WHEN THE ‘CHIP’s DOWN… Ducey looking at ‘rainy day fund’ to cover free health care for poor children. “Cash for CHIP [the Children’s Health Insurance Program] ran out when the federal fiscal year ended on Sept. 30.” Capitol Media Services Howard Fischer reports that “Gov. Doug Ducey may tap the state’s ‘rainy day fund’ to keep health care coverage for 23,000 Arizona children until Congress finally acts… Ducey, however, would need legislative approval to shift around those dollars.” (To borrow from Monty Python, “Now for something completely different”: “Bisbee to change disposable bag ordinance to duck budget hit” — also in Arizona Capitol Times.) http://bit.ly/2lDCQDD
How to fix facebook? We asked 9 experts. No, not us here at Dealmaker; it’s the New York Times that “asked nine technologists, academics, politicians and journalists to propose the steps they would take to improve Facebook — as a product, a company or both.” Tap through for their responses. http://bit.ly/2iTRHZz
