While the Federal Reserve hiked its benchmark interest rate a quarter point last week as expected (to a range of 2.00% to 2.25%), some of its additional commentary was noteworthy. Projecting one more rate hike before the end of the year and three more in 2019, the Fed revised its 2018 GDP estimate up, from a 2.8% increase to 3.1%. Despite the optimistic view by the Fed, committee members are projecting declining growth in GDP over the next few years, with a 1.8% growth rate anticipated by 2021.
Greysteel's Ari Azarbarzin was featured in the September 2018 issue of the Mid Atlantic Real Estate Journal to discuss the Baltimore State of the Market.
Baltimore seems to be suffering from an identity crisis. Depending on whom you ask or what news sources you consume, you could de-rive two very different conclusions about Maryland’s largest city. For example, in January 2018, Baltimore was named amongst The New York Times “52 Best Places to Visit” while the very next month, USA today labelled it “America’s Most Dangerous City.”