Greysteel's Washington, D.C. team members joined forces with SOME (So Others Might Eat) on July 11 to help feed the homeless.

The 10-year Treasury rate decreased to 2.00% at the end of June, down 14 basis points from the previous month, on fears of further escalation in trade tensions between the U.S. and China. On July 1st, after the G-20 meeting between President Trump and Chinese leader Xi Jinping, Treasury yields rose slightly after the two agreed to resume trade negotiations. With U.S.-China trade talks back on track, analysts are anticipating a more modest quarter point decrease by the Federal Reserve at its next policy meeting at the end of July.

D.C. Council Approves Increase in Transfer and Recordation Taxes

As Portland’s population continues to grow into the future, its multifamily market is actively answering the call for more housing. Currently, there are more than 9,700 units under construction in the city, a 69.3% increase over Q1 2018. In order to accommodate the large number of new employees that firms are hiring, Portland’s office market is also seeing growth in its amount of square footage under construction. High profile corporations such as Nike and Adidas are currently building expansion campuses which, combined, total over 1,125,000 million square feet. The growing multifamily and…

Seattle possesses a strong multifamily housing market that has shown excellent growth in almost every conceivable category in terms of both long- and short-term lenses. As of Q1 2019, the city’s number of inventory units sits at 150,728 – an increase of approximately 7,800 since Q1 2018 and 29,500 since Q1 2015. In addition, rents have also seen growth, posting a modest 1.5% increase since Q1 2018, as well as a staggering 18.9% increase since Q1 2015. The city’s rents are expected to jump in the near future, too, with CoStar projecting the Q1 2020 market asking rent to be at $1,903, a 7.5…

On June 11, 2019, New York State Assembly Speaker Carl Heastie and Senate Majority Leader Andrea Stewart-Cousins reached an agreement on a comprehensive rent reform package that will limit or eliminate many previous laws and regulations, which includes the elimination of High-Income and High-Rent deregulation as well as limits to the Major Capital Improvement (MCI) and Individual Apartment Improvement (IAI) programs. However, the Rent Reform package did not include a universal rent control measure, which would have allowed the creation of new rent stabilized units, nor did…

Greysteel's Phoenix team members and their families joined forces with Feed My Starving Children (FMSC) on June 6th to pack enough food to pack 41,904 meals, enough to feed 114 children in Thailand for a year!

As trade war fears rose and economic data disappointed, Treasury yields declined in May. The 10-year Treasury rate decreased to 2.14% at the end of May, down 37 basis points from the previous month. The stock market fared no better, either, as the S&P 500 lost 6.6% in May. These decreases, paired with the Trump administration’s recent move to impose punitive tariffs on Mexico, have investors anticipating a potential near-term economic downturn with a second front in the global trade fight. However, in early June, Fed Chairman Powell suggested trade tensions could lead the central bank…