In Case You Missed It: Week of March 28, 2016

The Employment Situation – March 2016
U.S. Bureau of Labor Statistics
April 1, 2016
“Total nonfarm payroll employment rose by 215,000 in March, and the unemployment rate was little changed at 5.0 percent, the U.S. Bureau of Labor Statistics reported today. Employment increased in retail trade, construction, and health care. Job losses occurred in manufacturing and mining.”

Housing will have its best year in a decade
Freddie Mac 
March 31, 2016
“This year is shaping up to be the best year for housing in a decade.  Home sales, construction housing starts and house prices are set to reach decade-level highs. Here are several reasons why we think this will happen.”

Hell without the L?: Here’s how real estate players are bracing for the train shutdown
The Real Deal
March 30, 2016
“The Real Deal spoke to residential and commercial brokers, developers and business owners to gain some insights into what North Brooklyn will look like after 2018, without the L train (or, as in the MTA’s alternate plan, an L train with no night and weekend service for five years). Here’s what they had to say:”

What Inning Are We In? Let’s Play Two!
National Association of Real Estate Investment Managers
March 28, 2016
 “Commercial property investors are at a confusing spot. After growing at a double digit pace in the last few years, both property prices and volume have now fallen. When positive trends were steady, experts and professionals at industry conferences were asking the same question, “What inning are we in?” We are now in game two of a double header.”

NYC March 2016 Economic Snapshot
New York City Economic Development Corporation
March 28, 2016
“Private employment in New York City increased 4,200 between January and February 2016. The unemployment rate increased to 5.4%, down from 6.3% this time last year.”

The Drop in Oil Prices Has Had a Negligible Impact on CRE
National Real Estate Investor
March 24, 2016
“further volatility in oil prices will continue to affect stock market prices and potentially the real estate market, but largely in a macroeconomic and indirect way by creating uncertainty on the decision making of market participants. As long as job growth remains positive, the real estate market will remain positive as well. Some smaller areas that have shed jobs from drilling and ancillary oil demand will continue to decline, but these markets are isolated and generally small.”