Narrow group of industries dominates June employment gains. Total U.S. employment rose by 147,000 jobs in June as the unemployment rate edged down to 4.1 percent. Private hiring was led by expansions in the education, healthcare, leisure and hospitality sectors, which accounted for over 90 percent of net non-government employment gains. Nearly all other private sectors posted minimal…

Seven key provisions that could impact CRE investment strategies Will increased bonus depreciation bolster CRE returns? Greater tax clarity may reinvigorate investor decision making                  

Clarity on Tax Policies Reduce Uncertainty and Reinforce Appeal of Real Estate Investment Codified tax breaks provide policy certainty. The newly passed “One Big Beautiful Bill” Act extends core elements of the 2017 Tax Cuts and Jobs Act while codifying several key tax provisions into permanent law, including 100 percent bonus depreciation, the Qualified Business Income deduction and Low-Income Housing Tax Credits. The legislation provides measured support rather than dramatic stimulus, yet reinforces real estate’s… Read More

Interest rates have come down, but will they hold? How the end of the tariff pause could impact uncertainty Could the new tax bill put upward pressure on interest rates?                

The big picture is just part of the story… Multifamily, Retail and Office – the markets where rents are outperforming How capital flows can transform investment results              

New inflation risks that could restrain the Fed for remainder of the year Key retail sales trends and why they may be misleading Why consumers may prove more durable than many expect              

Fed maintains wait-and-see approach. The Federal Open Market Committee opted to not adjust the overnight lending rate at its June meeting, marking six months at a 4.25 percent lower bound. This decision indicates that the FOMC has a favorable view of both the current state of the labor market and inflation. The U.S. unemployment rate has held under 4.5 percent — around the level of full employment — for almost four years, while the…

Tariff pass-through absent for now, but services remain sticky. May’s CPI report reflected a modest increase in prices. Headline inflation rose 0.1 percent month over month, bringing the annual rate to 2.4 percent. The data suggests price pressures from tariffs have yet to pass through to consumers; Core Goods CPI stayed flat in May and the year-over-year rate held at just 0.3 percent. Apparel and vehicle prices continued to…

Generally positive labor report carries caveats. Employers brought on 139,000 new personnel on net in May, marking the second-most active month for hiring this year, behind only April. This most recent job creation tally, however, trails the 2024 monthly average by about 29,000 positions. Last month’s greater headcount was also highly concentrated, with 90 percent of the net employment gain stemming from…

Inflationary effects of tariffs will take time to materialize The Fed continues to hold interest rates steady amid uncertainty CRE buyers and sellers may both benefit from taking action soon