Labor market at turning point as wage growth hits recovery high. Meaningful wage growth has been a missing ingredient in the expansion for the past eight years. Yet now, with unemployment holding steady at 4.1 percent, employers are finally feeling the pressure to increase wage hikes to attract and maintain their human capital. Further evidence of tight labor conditions can be found in job openings at or near record levels of 6 million positions over the past 12 months.
Market Trends
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If You’re Hesitant To Hire A Broker For Your Multifamily Property Read This
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Continue readingExisting single-family home sales increased a modest 1 percent over 2017 as limited for-sale inventory kept the market from gaining traction. While many of the factors contributing to a restriction in sales velocity remain the same, changes to the tax code remove some of the incentives to homeownership, and anticipated interest rate increases this spring will bring additional challenges to the future of the housing market.
Led by numerous corporate relocations from the suburbs, job growth in Chicago’s core has ignited apartment construction as young professionals seek an urban lifestyle.
New Tax Law Holds Favorable Prospects for Commercial Real Estate; Potential to Boost Space Demand and Capital Flows
The first significant tax law revision in 32 years could spark important changes for commercial real estate.
A New York real estate investor paid $94 million for an apartment complex in north suburban Vernon Hills, another addition to the long list of suburban Chicago multifamily properties that have changed hands this year.