Nationwide, office properties have lost about 20 percent in value since the COVID War made remote work the new normal. However, in some key markets, the plunge has been far more severe.
Tag: U.S. Economy
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U.S. TRADE DEFICIT UP MORE THAN EXPECTED
The value of U.S. imports increased 1.1 percent in January while exports ticked up just 0.1 percent, widening the trade deficit by 5.1 percent over December’s gap to $67.4 billion, the most since April 2023 and larger than economists had forecast.
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FEBRUARY JOBS REPORT FUELS OPTIMISM OVER RATE CUTS
The pace of wage growth slowed in February and unemployment rose slightly to 3.9 percent, strengthening convictions that inflation will fall to the U.S. Federal Reserve’s 2-percent target without tipping the country into a recession.
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ECONOMIC GROWTH? LAYOFFS ON THE RISE
In February, U.S. employers announced plans to cut 84,638 workers, 3 percent more than in January and 9 percent more than a year earlier, outplacement firm Challenger, Gray & Christmas reported.
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ECONOMIC UPDATE – MARKET OVERVIEW
As we note just about every week, the “Bigs” keep getting bigger and the rich keep getting richer, while the average person—the plantation workers of Slavelandia—keeps getting poorer.
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TOP TREND 2024: BANKS GO BUST
Four private equity firms have together spent a reported $1.05 billion to buy stock in the ailing New York Community Bancorp (NYCB).
And the number of U.S. banks showing problems soared from eight to 52 in last year’s final three months, the sharpest spike since…
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TOP TREND 2024: EV GO FU
After investing a decade and billions of dollars, Apple has ended its efforts to produce an electric vehicle (EV).
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TOP TREND 2024: BANKS GO BUST
Fears for the banking industry were aggravated on 1 March when New York Community Bancorp (NYCB) admitted that the bank’s executives had found “material weakness” in the way the company monitors and weighs risks in its loan portfolio.
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MACY’S WILL CLOSE 150 STORES IN OWNERSHIP FIGHT
Macy’s announced that revenues and profits in 2023’s last quarter were better than expected.
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CONSUMER CONFIDENCE SLUMPS
After feeling more positive through the first half of February, U.S. consumers took a darker view of the nation’s economy just before March.