As the market for office buildings crashes, speculators are now buying select properties they think will rebound in value when the crash hits bottom.
Tag: U.S. Economy
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AFTER BAD YEAR, AMTRAK PAYS MILLIONS IN EXECUTIVE BONUSES
After losing $1.7 billion in 2023 and failing to meet targets upgrading its Acela service between Boston and Washington, Amtrak paid $5 million in executive bonuses, including more than $200,000 to each of 14 top managers...
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HOME SALES FELL AGAIN IN MAY
In May, 409,759 homes were sold in the U.S., the third-lowest monthly number in the past 10 years.
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FED HOLDING BACK ON INTEREST RATE CUTS
The central banks of Canada and the European Union cut their interest rates this month for the first time in the current cycle, but the U.S. Federal Reserve is in no hurry to follow suit.
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U.S. SMALL BUSINESS SENTIMENT INCHES UP
Owners of small businesses felt slightly more confident in May about their current and future prospects than they did in April, according to the National Federation of Independent Business’s (NFIB) Small Business Optimism Index.
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CONSUMER BLUES
U.S. consumers’ gloom deepened again in June, according to the University of Michigan’s monthly survey of consumer sentiment, after also slipping in April and May.
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ECONOMIC UPDATE – MARKET OVERVIEW
Once upon a time, America was the Land of Opportunity, with good-paying jobs.
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SPOTLIGHT: BIGS GETTING BIGGER
Private equity firm Bain Capital is buying a controlling interest in PowerSchool, which provides school management software and cloud services, for $22.80 a share, which works out to a value of about $5.6 billion.
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TOP TREND 2023, OFFICE BUILDING BUST: LATE PAYMENTS, FORECLOSURES CLIMBING AMONG OFFICE BUILDING LOANS
In May, the proportion of late-paying loans on U.S. office buildings rose to 7 percent, almost doubling from 4 percent a year earlier, data service Trepp reported.