Economic Update – January 5, 2024
1. DECEMBER JOBS REPORT • US nonfarm payrolls increased by 216,000 in December, above November’s growth of 173,000 jobs and exceeding the consensus estimate of 170,000 according to the Census Bureau’s latest employment report. • Meanwhile, initial jobless claims fell...
Economic Update – December 22, 2023
1. 2024 US MULTIFAMILY OUTLOOK • According to a recent forecast by Yardi Matrix, the US multifamily sector faces a mixed outlook in 2024. While apartments have performed relatively healthily during the Fed’s ongoing tightening cycle, sector valuations will face...
Economic Update – December 8, 2023
1. INFLATION AND FALLING ENERGY PRICES • The latest PCE price index rose in line with consensus expectations in October, but the divergence between the core and headline numbers reflects the disinflationary impact of falling energy prices in recent months. • According...
2023 Commercial Property Insurance Midyear Market Outlook – Deeley Insurance Group
The last several years have seen the commercial property insurance market progressively harden, evidenced by ongoing rate increases over the past 22 consecutive quarters. Such rate hikes showed some signs of stagnation throughout 2022 by largely remaining within...
Economic Update – November 24, 2023
1. CPI INFLATION • The Consumer Price Index (CPI) fell to 3.2% year-over-year in October, 50 basis points below the September reading, and follows two consecutive increases in annual CPI. • Monthly CPI was flat, marking the first time the economy has experienced no...
Economic Update – November 10, 2023
1. WEWORK BANKRUPTCY, CRE IMPACT • On November 6th, co-working trailblazer WeWork filed for Chapter 11 bankruptcy, bringing additional unease to an office sector battered from the residual effects of the remote-work revolution. • Over the previous decade, including...