Fed minutes: No rate moves are coming ‘for some time’ even if the economy improves. Federal Reserve officials remained firmly committed to a “patient” policy stance at their meeting earlier this month, saying rates likely will remain unchanged well into the future. Full Story
Senate Bill 50 would have rewritten zoning laws and forced local governments to allow taller apartment buildings and other multi-family complexes near transit areas and job centers. it won’t be considered again until January 2020 Full Article
Fed officials, who gathered in Washington for their two-day policy setting meeting, unanimously recommitted to remain “patient,” agreeing to indefinitely stick with an extended pause on rate changes. They also signaled that the Fed wouldn’t hike rates in 2019. Read the Full Article.
1049-1057 Foothill Boulevard, La Canada Flintridge, CA 91011. Mike Maniscalchi, SIOR and Tony Maniscalchi, SIOR represented the seller in the sale of this 4,800 SF commercial/retail building on 12,922 SF of land. For more information, contact Mike, x135 or Tony, x126 at (818) 956-7001.
The Glendale City Clerk’s office rejected the petition circulated by a tenants union. Full story
The Fed voted unanimously to keep the rate at a target between 1.75% and 2%.
According to the Beacon Employment Report, the latest numbers from the California Employment Development Department show the state adding 52,700 jobs in December.
Nearly two-thirds of metros will end the year with vacancy rates below their historical averages. In these areas, demand continues to outpace supply, which allows rents to keep rising. Full Story