Preparing for Eventual Construction Downturn
By Rebekah Morris for AZBEX Business as usual will not last long. As Arizona construction projects continue for the most part, a near total economic shutdown is happening all around us. The abrupt economic shock is resulting in dramatic increases in unemployment and simultaneous record-setting federal government stimulus spending. At some point, economic contraction translates into less demand for construction. […]
Ariz. Economy May Expect Solid Recovery
By George W. Hammond for AZ Big Media There is still a huge amount of uncertainty about the future of the outbreak and the economic impacts on the Arizona economy associated with it. Regarding the outbreak, the question at this point is when government and self-imposed social distancing will ease. The April 2020 U.S. forecast from IHS Markit, […]
Cities Brace for Pandemic Impacts
By Jen Fifield for The Arizona Republic Up until this month, many Arizona cities were riding high on good times. Populations were growing, jobs were booming, and cash was flowing in. Cities were preparing to put a bow on the optimistic budgets they had worked on since the fall for the next fiscal year starting in July. Then, […]
Covid-19 Living Through Econ. & Social History P. 1
By: Thomas M. Brophy for Colliers International Multifamily Times AZBEX Note: Thomas M. Brophy is National Director of Research & Analytics | Multifamily Investments for the Colliers Cooke Multifamily Team. This column was distributed March 18, and all data were considered current at that time. Even though it has been edited for length, you will notice it is appreciably […]
Construction to Remain Active, but Tempered, in 2019
Forecast Event Shows Impending Doom Seems Highly Unlikely By Roland Murphy for Arizona Builder’s Exchange 2018 was an excellent year, if not quite as excellent as experts predicted at the outset. 2019 will also be excellent, if, perhaps, somewhat less so than the year that preceded it. After that, things will taper off, but it […]
Nonres. Const. Maintains Momentum in Dec.
Source: Associated Builders and Contractors Nonresidential construction spending expanded 0.8 percent in December, totaling $720.4B on a seasonally adjusted basis, according to Associated Builders and Contractors’ analysis of data released by the U.S. Census Bureau. This represents the fifth consecutive month during which the pace of nonresidential spending has increased. Nonresidential spending expanded 0.1 percent […]
Experts Weigh in on State of Development
By Roland Murphy for Arizona Builder’s Exchange Four commercial real estate and development leaders gave their predictions for what lies ahead in 2018 at Valley Partnership’s Friday Morning Breakfast program, Jan. 26. Following a brief address by Republican U.S. Senate candidate, and current congressional representative, Martha McSally, moderator Mark Detmer, managing director of JLL, introduced […]
Nonres. Const. Employment Ends 2017 Up
Source Associated Builders and Contractors The nonresidential construction sector added 11,800 net new jobs in December, representing nearly 10 percent of the nation’s jobs created during the month, according to an Associated Builders and Contractors analysis of data released by the Bureau of Labor Statistics. The nation’s overall construction sector added 30,000 net new jobs […]
RE Optimistic Though “Trump Bump” Fades
By Roland Murphy for Arizona Builder’s Exchange With the uncertainty of the U.S. presidential election over and promises of major infrastructure investment soon to come, the national real estate market experienced a pronounced bump in optimism between midyear 2016 and year end. Halfway through 2017, though that optimism has tempered somewhat, the industry experts have […]