Arizona’s multifamily industry has been one of the most robust the past few years, even during the pandemic. While there is still plenty of runway as 2023 nears, there are some headwinds that could slow down the momentum. They include a lack of housing supply and a lack of affordable housing. “You can’t go a day without hearing about the housing supply and the lack of … [More]
Homebuyers’ Down Payments Doubled during the Pandemic, Says Report
The typical U.S. homebuyer who took out a mortgage in July made a $62,500 down payment, up 13.6% from a year earlier and almost twice the median $32,917 down payment in July 2019, before the pandemic. That’s according to a new report from Redfin, the technology-powered real estate brokerage. The combination of increased down payments and monthly mortgage payments near all-time … [More]
87% of Hotels Report Staffing Shortages, Says Survey
Nearly all hotels are experiencing staffing shortages, according to a new member survey conducted by the American Hotel & Lodging Association (AHLA). Eighty-seven percent (87%) of survey respondents indicated they are experiencing a staffing shortage, 36% severely so. The most critical staffing need is housekeeping, with 43% ranking it as their biggest … [More]
Typical Homebuyer’s Mortgage Payment Up 15% since Mid-August
The typical homebuyer’s monthly mortgage payment has climbed $337 (15%) over the past six weeks to a new high of $2,547, according to a new report from Redfin, the technology-powered real estate brokerage. The extreme volatility and recent surge in mortgage rates has caused many potential homebuyers to delay or cancel their plans to purchase a home altogether. Pending sales … [More]
Tumultuous Economy Challenges on Companies’ Consumer Relations
A potential worldwide recession may be on the horizon. Additionally, buyer priorities are changing in customer services and the overall customer experience. How will a tumultuous economic period such as this one impact the customer service industries as a whole? As we see the pandemic period ending and a potential worldwide recession on the horizon, we are starting to see … [More]
Most States Are Well Prepared to Weather a Recession, Not Arizona
The majority of US states have the resources needed to get through an economic recession, according to a new study from Moody’s Analytics. A record 43 states have the cash they need to weather an economic slump without having to resort to severe spending cuts or tax increases. “States have never been in a better position to make it through a recession,” … [More]
New Electric Vehicle Registrations Grew More Than 250% over the Last Five Years
Electric vehicles (EVs), once thought of as an industry outlier, have demonstrated their staying power, with new EV registrations growing more than 250% over the last five years. According to Experian’s Automotive Consumer Trends Report: Q2 2022 there are more than 1.7 million EVs in operation in the US today (compared with more than 400,000 EVs in Q2 2018). This number may … [More]
Layoffs Continue around the Country but Not in Arizona
With large-scale companies like Amazon, Gannett and Bed Bath and Beyond announcing layoffs recently, employees are growing increasingly concerned about job security. However, experts say that Arizona is not following this trend. Blake Quinlan of Express Employment Professionals, a top global staffing firm, says Arizona has only seen one major layoff in the last two years … [More]
