Greysteel's Ryan Floyd and Scott Whitfield were featured in the November 2018 issue of the Colorado Real Estate Journal to discuss the State of the Market as Strong Economic and Population Growth Continues in Denver.
Denver has been a premier destination for job seekers in this growth cycle, especially for educated millennials, and current labor conditions reinforce this proposition today. Net migration and total employment growth remain well above the national average.
The 10-year Treasury rate dropped 16 bps in the month of November, kicking off December below 3.00%. While there is still confidence in the strength of the U.S. economy, some investors have concerns of a weakening economy on the horizon. Most economists still anticipate the Fed will increase short-term rates before the end of 2018, but there is uncertainty about the number of increases in 2019 as the Fed assesses economic conditions heading into the New Year.
While the stock market experienced significant weakness and volatility in October (with the worst month for the S&P 500 and Nasdaq in over seven years), other economic indicators remain strong. Wages have grown 2.9% in the past 12 months, with a tightening labor market finally pushing up wages, and unemployment has stayed steady at 3.7%. Interest rates fluctuated throughout October, but the 10-year Treasury rate finished at 3.12%, an increase of just 3 bps for the month. Additional Q3 earnings reports, mid-term election results, as well as further clarity on the economic impact of…
Proposition 10, the California Ballot Initiative coming this November being sold as the “Affordable Housing Act,” if passed, will repeal the Costa-Hawkins Rental Housing Act and affect the interests of every California property owner.