As can be seen in the chart above of the unemployment rate in Miami-Dade for the year ending September 1, 2020, the unemployment rate as of September 1 went back up to 13.0%, not so far from its peak of 14.5% reached two months prior. This followed a welcome decline in the month between to […]
Stephen Ross, the chairman and majority owner of The Related Companies, a global real estate development firm he founded in 1972 that has been and continues to be very active in Miami, and owner of the Miami Dolphins, discusses reopening and the state of commercial real estate projects like Hudson Yards in New York in […]
Yields on 5-year U.S. Treasury Notes continue to remain at lows reached as we began the era of COVID. As can be seen in the chart above, these rates, most closely tracked for commercial real estate financing cost, plummeted from what were already considered low levels to under 50 basis points (0.5%), barely hovering over […]
From its peak of 14.5% reached in only the prior month, the unemployment rate in Miami-Dade county plummeted in August (8/1) to 8.1%, the lowest level since March when unemployment had jsut started to creep up but was still in low single digits (3.7%). The continuing effects of COVID-19 on employment, and thus the economy, […]
Yields on 5-year U.S. Treasury Notes remain at lows quickly reached as we entered the era of the COVID-19 pandemic. As can be seen in the chart embedded herein, these rates, most closely tracked for commercial real estate financing cost, plummeted from what were already considered low levels to under 50 basis points (0.5%), barely […]
In my commercial real estate brokerage business, I’ve noticed a trend of some buyers expecting lower prices on properties, sometimes even clearly taking offense at a seller not budging on price. There seems to be, with them a sense that they know better to such a degree that they are disgusted by the gall and […]
The effects of coronavirus on employment in the Miami area continue and are clearly evident in the May 1 unemployment rate of 11.3%. This is a drop, however, from the prior month’s level of 11.95%, and remains below the unemployment rate of 12.4% reached in August 2009. I think most people would have anticipated the […]
Video 1 of 2: Video 2 of 2: In this two part video series, CCIM Chief Economist K.C. Conway, CCIM, MAI, CRE, joins the host of America’s Commercial Real Estate Show to discuss what to expect move forward. Among the discussions expectations for jobs, property values, and economic recovery timing. He notes he is particularly […]
In this timely video, Brian Bailey, Real Estate Subject Matter Expert at the United States Federal Reserve Bank in Atlanta, discusses his views on commercial real estate in these COVID-19 affected times. As we continue our coverage on what’s next for the real estate industry, this show is certainly enlightening. He discusses what is going […]
The effects of coronavirus are clearly evident in the April unemployment rate spike in Miami-Dade as of April 1, 2020. At 11.95, the level of unemployment has yet to reach the 12.4% level reached in August 2009. Given the effects of coronavirus on commerce, however, the May 1 numbers, once released, will surely exceed that […]
At the end of April of 2019, intermediate yields remain at lows reached in recent weeks. This has, of course, been driven by reduced economic activity due to the COVID-19 pandemic. As can be seen in the accompanying chart, five year rates, which are most closely tracked for commercial property borrowing cost, found themselves under […]
As can be seen in the accompanying chart, after years of steady decline, the unemployment rate spiked notably in March of 2020. This surely is caused by the earlier stages of the COVID-19 Pandemics, and thus will likely be even higher in April. Higher unemployment is bad for the economy, and in turn for commercial […]
In this video prominent MIami area developers Jon Paul Perez of The Related Group, Edgardo Defortuna, and Shahab Karmely of KAR Properties discuss dealing with coronavirus with Amir Korangy of The Real Deal. Among the topics discussed are the things that most keep the awake at night, i.e. their biggest concerns, how they plan to […]
The is significant and growing international concern with regard to the potential human and economic impact of coronavirus, also referred to as COVID-19. Mitch Roschelle, Partner withPricewaterhouseCoopers , joins America’s Commercial Real Estate Show to talk about how markets may react and in turn how commercial real estate might be impacted. Among the topics discussed […]
A recent post by the St. Louis Fed, The Economic Effects of a Pandemic, discussed the economic effects of the Spanish Influenza of 1918-1920, referencing the chart, embedded herein, of average hourly earnings in various United States sectors. According to the Centers for Disease Control and Prevention, the Spanish Flu pandemic infected about a third […]
Part 1 of 2 Part 2 of 2 As the economic expansion continues into the year 2020, we all wonder what can be expected to drive the commercial real estate industry going into the future? In this two part video series, CCIM Chief Economist K.C. Conway joins the show host to offer views on the […]
