December saw 200,000 jobs added, beating expectations. Hiring was broad-based and wages saw their greatest increase since 2009.
Eliminating the SALT deduction increases the cost of local public services, and may lower house prices. It will be felt most strongly in towns with higher homeownership rates, suburbs, and higher-income communities.
Our near-term expectations.
The Bank of Korea—often considered a bellwether of interest rates in Asia—raised its benchmark rate at the end of November. Was that the start of a tightening cycle?
Q4 GDP growth of 2.6% came in under Q3's 3.2% and the 3.0% consensus estimate, reflecting some drag from net exports and inventories, which somewhat offset the quarter's strong consumer spending.
The new tax reform act lowers the cap on the mortgage interest deduction and extends the holding period for capital gains inclusion. While the latter is probably good, the former will do little for homeownership.
The new Tax Reform Act provides for a new and novel way to depreciate new capital investment—plant, equipment and buildings. In theory, the positive impact could be significant. In the current context, however, expensing raises some concerns.
Our rent index was lower in Q3. Here's why.
In multifamily investment, a market’s supply pipeline is a critical factor in site selection. Units under construction is the primary measure of supply risk, but it’s important to consider the risk posed by planned units as well.
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