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Mixed real estate market: Retail down, office sales slow, industrial up. Last week Dealmaker brought you AZRE’s “greatest hits” version of this Colliers International report. This week PBJ takes a whack, with its glance at sales data for commercial office, industrial and retail buildings. http://bit.ly/2qsI04a
Pollack: Despite politics, key economic factors remain strong. TheMonday Morning Quarterback notes that “so far, the tumult caused by the ongoing craziness between the two major parties has not prevented the current period of moderate economic strength from continuing.” This week’s MMQ “Snapshots” include… U.S.: Job Claims (w/chart), GDP, Consumer Sentiment & Prices, Manufacturing, Mortgage Rates. AZ: Home Prices – Phoenix & Tucson, Home Supply (good news!… for sellers). http://bit.ly/2qoTgAv
Builder confidence highest since December. Mortgage News Daily also points out that an HMI of 70 in May was the “second highest level since well before the housing crisis began.” Tap through for the HMI regional breakdown. Plus, see what NAHB head honchos say about “builders’ optimism” and expectations for “new construction moving forward.” —> http://bit.ly/2pT3SUk
First quarter home sales set blistering pace. “The strongest quarterly sales pace in exactly a decade [up 1.4% to 5.62 million] put significant downward pressure on inventory levels [6.6% below 1Q – 2016] and caused price growth to further accelerate [up 6.9% from year before]….” NAR Chief Economist Lawrence Yun discusses the findings, in Builder. http://bit.ly/2rnn5PY
Think home prices are high now? Why they’re likely to keep going up. Lawrence Yun: “Several metro areas with the healthiest job gains in recent years continue to see a large upswing in buyer demand but lack the commensurate ramp up in new home construction… This is why many of these areas — in particular several parts of the South and West — are seeing unhealthy price appreciation that far exceeds incomes.” For more insight from Yun — and from Realtor.com® Senior Economist Joseph Kirchner — tap on: http://bit.ly/2rnrYZo
INDEPENDENCE DAY – Peoria city manager to retire. “City Manager Carl Swenson announced his retirement, effective July 4, 2017…. ‘My time with the city of Peoria has been the highlight of my 35 years in city government, and I’m very proud of our many accomplishments.’” Check out some of those accomplishments, along with words of praise for City Manager Swenson from Mayor Cathy Carlat, who wishes him “all the best in his retirement,” inYourWestValley. (Whatever his future endeavors, we, too, wish City Manager Swenson all the best.) http://bit.ly/2rnqMFs
Dealmaker BONUS: I bought a ‘pre-need’ funeral package for my mother. She didn’t mind. In this Mother’s Day piece for the Los Angeles Times, Jordan Rose and Court Rich’s Uncle Bert Stratton reminisces about his mom (Grandma Julie to Jordan and Court), describing her as “hard to rile” and “always flexible,” a description driven home in humorous fashion in the story’s lead anecdote. We won’t spoil it for you, but here’s a tease: “She joked about the funeral-home call for a couple of weeks.” http://bit.ly/2rn0Zwu
Cameron’s $5M + deals of the day – http://bit.ly/2qoDLc0
As a supplement to the Dealmaker, we thought you might enjoy these articles!
How to protect yourself from the global ransomware attack; Lauren Reynolds, Rose Law Group litigator focusing on cybersecurity, weighs in. Law enforcement officials have called Friday’s worldwide computer hijacking “the biggest such attack in history.” The Washington Post explains what you need to know about the WannaCry ransomware attack that forced victims in “more than 150 countries” to part with their money and, true to its name, likely made many of them weep. Lauren Reynolds offers this: “Businesses and individuals can easily become unsuspecting victims of such ransomware. Simple proactive steps, however, can help lower that risk. Some of these steps include making sure to back up your most important information and files, installing appropriate software updates, using complex passwords, and treating emails, links, and websites with caution.” http://bit.ly/2rnbbox
Citizenship applications soar, and that means more potential homeowners. “Immigrants who are not citizens hold a homeownership rate of 39.3%… However, once these immigrants become citizens, that number nearly doubles…” HousingWire looks at Pew Research data that shows citizen applications are “up significantly from 2015 and higher than any point in the past four years.” http://bit.ly/2pHtqbS
Wanting freedom from the First Amendment: From the Rose Law Group Growlery. With the “continued rise in conflicts over freedom of speech and freedom of the press,” Senior Reporter/Writer Phil Riske looks at the “purveyors of censorship, story loading and fake news” and the “efforts to remain free of the First Amendment.” He concludes with a rallying-cry exhortation “whenever attempts to control the free flow of factual information are made.” http://bit.ly/2rnigFP
State senator announces bid for Congress. “Sen. Steve Smith, R-Maricopa… announced today he’ll run for office in Arizona’s 1st Congressional District, a seat held by U.S. Rep. Tom O’Halleran, a former Republican turned Independent turned Democrat.” More on the announcement, plus find out who’s planning to run for the “senate seat Smith is vacating,” in Arizona Capitol Times. http://bit.ly/2qsPSm9
Water Hole: No running water on Navajo Nation reservation. “40 percent of Navajo Nation members don’t have access to running water in their homes.” Some “residents…see it as… part of their lifestyle,” while others “wouldn’t use running water even if they had access, because they believe it’s been contaminated by… uranium mining.” The founder of the Navajo Water Project calls the water-access situation “abysmal.” Find out what’s being done to address the issue, in Cronkite News. http://bit.ly/2qoH1El
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