construction Eugene Schuldinger

10 Must Reads for the CRE Industry Today (January 8, 2018)

The Securities and Exchanges Commission is investigating Jared Kushner’s real-estate firm’s use of the EB-5 visa program, the Wall Street Journal reports. This year, a construction boom is likely, according to CNBC. These are among today’s must reads from around the commercial real estate industry.

  1. By All Measures, a Construction Boom Is Shaping Up for 2018 “All signs and numbers point to a huge year for the construction industry. Even in December, with much of the nation frozen, the construction industry added 30,000 jobs, according to the Bureau of Labor Statistics. For all of 2017, construction added 210,000 jobs, a 35 percent increase over 2016.” (CNBC)
  2. SEC Looks Into Kushner Cos. Over Use of EB-5 Program for Immigrant Investors “The Securities and Exchange Commission is investigating the real-estate company run by the family of President Donald Trump’s senior adviser and son-in-law Jared Kushner for its use of a federal investment-for-visa program known as EB-5, according to people familiar with the matter.” (Wall Street Journal, subscription required)
  3. London Beats Out New York Among Foreign Investors in Real Estate “New York City took a double hit in an annual survey of real estate investors, which saw London overtake it in first place globally and Los Angeles tie it for top U.S. city.” (Bloomberg)
  4. Department, Discount Stores Drive Retail Job Losses in Weak Jobs Report “Department stores and general merchandisers led job losses in the retail industry for the month of December.” (CNBC)
  5. Luxury Brands Are Cleaning Up Their Image – And It Could Be Bad News for TJ Maxx “TJ Maxx has defied the retail apocalypse: it reported same-store sales growth for 21 consecutive years, and early in 2017, it announced plans to open 1,800 stores globally. But the tide may be turning as the brands TJ Maxx stocks start to sharpen up their image and send less inventory to off-price stores.” (Business Insider)
  6. Fed Officials Are Already Plotting How to Combat the Next Downturn “The economic outlook, if not the weather, was sunny in Philadelphia this weekend, where the economics profession gathered for its annual conference and job fair. Federal Reserve officials appearing here chose to spend little time stressing the positives like low unemployment and eight years of slow-but-steady economic growth.” (MarketWatch)
  7. Powell Backed Fed’s Bond-Buying Plan With Reservations in 2012 “Federal Reserve governor Jerome Powell supported an aggressive expansion of the Fed’s controversial bond-buying program in 2012 but expressed reservations behind closed doors over longer-run risks, according to transcripts of central bank policy meetings released by the central bank on Friday.” (Wall Street Journal, subscription required)
  8. CBRE Report Describes Industrial Land Boom “In markets nationwide, development to support e-commerce fulfillment has driven the cost of industrial land sharply higher in the past year.” (Commercial Property Executive)
  9. The Top 10 Biggest Real Estate Projects Coming to NYC “A massive mixed-use project coming to East Harlem courtesy of the Richman Group was the biggest project filed with the city last month.” (The Real Deal)
  10. Condo Debating Removing Trump Name Could Face Suit “A Manhattan condominium debating whether to dump the Trump name from its exterior could face a lawsuit from the President’s namesake business.” (New York Post)
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