Categories
#GreaterPrincetonNJ

Matthew Fiorovanti: Litigation Emerging as Negotiating Tool in Real Estate | New Jersey Law Journal – Law.com

Reading Time: < 1 minute
Matthew Fiorovanti

For Matthew Fiorovanti, who represents developers and land owners at Giordano, Halleran & Ciesla in Red Bank, the hot real estate market has brought about a resurgence in parties’ use of litigation as a negotiating tool.

Litigants who have spent a lot of money obtaining land use approvals can find it frustrating to face an adversary seeking to change its negotiating stance with a breach of contract claim, said Fiorovanti.

Categories
#GreaterPrincetonNJ

Lack of Homes for Sale as Sale Prices Continue to Rise According to New Report – MyChesCo

Reading Time: 6 minutes
new home 2095489 1920

DEVON, PA — “With the start of 2022, we are still seeing continued trends from this time last year. The lack of homes for sale, paired with high demand from buyers, is resulting in steadily rising average sale prices,” remarks Berkshire Hathaway HomeServices (BHHS) Fox & Roach President Joan Docktor. “There is no end in sight for the continued inventory shortage so we are expecting a continuation of increased prices in 2022,” Docktor adds.

Number of Properties Sold Decreased Slightly

The number of properties sold overall in January of 2022, in the 12-county greater Philadelphia region, decreased by 4.6 percent from this time last year, according to (BHHS) Fox & Roach’s January HomExpert Market Report©. There were 6,184 homes sold in January 2022, compared to 6,481 sold in January 2021.

  • In BHHS Fox & Roach’s Pennsylvania market areas, the number of properties sold was down by an average of 1 percent, with 3,760 sold in January 2022, compared to January 2021’s 3,798 homes sold. Montgomery County had the biggest decrease, down 12.6 percent and Chester County had the second biggest decrease, down 7.1 percent compared to January 2021. Delaware County had a 4.7 percent decrease compared to January 2021.
  • In BHHS Fox & Roach’s New Jersey market areas, the number of properties sold decreased by an average of 7.1 percent, with 1,729 sold in January 2022 and 1,862 sold in January 2021. Gloucester County had the largest decrease, down 14.9 percent and Mercer County had the second largest decrease, down 10 percent compared to January 2021. Camden County had a 7.4 percent decrease.

Monthly Average Inventory Decreased

The number of homes for sale overall in the 12-county Greater Philadelphia region is down by 19.9 percent, with 16,059 homes on the market in January 2022, compared to 20,060 for sale in January 2021.

  • In BHHS Fox & Roach’s Pennsylvania market areas, the average inventory is down by 18.3 percent, with 10,376 for sale in January 2022 and 12,693 for sale in January 2021. Chester County decreased 32.9 percent and Montgomery County decreased 30.7 percent. Bucks County decreased 22.5 percent and Philadelphia County decreased 11.9 percent compared to January 2021.
  • In BHHS Fox & Roach’s New Jersey market areas, the average inventory is down by 27 percent, with 3,940 sold in January 2022 and 5,395 sold in January 2021. Gloucester County had the largest drop, down by 34.2 percent and Burlington County had the second largest drop, down by 27.2 percent. Mercer County had a 25.7 percent decrease and Camden County had a 24 percent decrease compared to January 2021.

Average Days on Market Decreased

The average days a house stayed on the market overall in the 12-county greater Philadelphia area has decreased by 8.8 percent compared to January 2021, with 31 average days on market in January 2022 and 34 average days on market in January 2021.

  • In BHHS Fox & Roach’s Pennsylvania market areas, the average days on market decreased 11.4 percent, from 29.6 days in 2022 to 33.4 average days on the market in January 2021. Bucks County’s average days on market decreased 29 percent and Chester County’s average days on market decreased 24 percent. Montgomery County’s average days on market decreased 16 percent.
  • In BHHS Fox & Roach’s New Jersey market areas, the average days on market decreased 12 percent, from 38 average days on market in January 2021 to 34 average days on market in January 2022. Mercer County’s average days on market decreased by 23.8 percent and Salem County’s decreased by 15.1 percent. Burlington County’s average days on market decreased by 5.9 percent, compared to January 2021.

Average Sale Prices Increased

The average sale price in the 12-county greater Philadelphia region increased by 8.7 percent compared to January 2021, from $332,123 in January 2021 to $361,172 in January 2022.

  • In BHHS Fox & Roach’s Pennsylvania market areas, the average sale price was $410,946 in January 2022 compared to $384,232 showing a 7 percent increase. Delaware County had the highest increase of 18.3 percent compared to January 2021. Chester County had the second highest increase in average sale price by 9.4 percent and Philadelphia County had a 6.3 percent increase.
  • In BHHS Fox & Roach’s New Jersey market areas, the average sale price was $309,395 in January 2022 compared to $272,721, showing a 13.4 percent increase from January 2021. Camden County had the highest increase in sale price of 17.7 percent. Burlington County had a 14.8 percent increase, and Mercer County had a 14.3 percent increase compared to January 2021.

Properties Under Contract Decreased

The number of properties under contract overall in the 12-county greater Philadelphia region is down by 5.7 percent, with 6,538 homes under contract in January 2022, compared to 6,932 homes under contract in January 2021.

  • In BHHS Fox & Roach’s Pennsylvania market areas, properties under contract have decreased by 3.9 percent, from 4,017 under contract in January 2022 to 4,178 in January 2021. Chester County had the biggest decrease compared to January 2021, of 20 percent, while Montgomery County decreased 12.3 percent compared to January 2021 and Bucks County decreased 3.9 percent.
  • In BHHS Fox & Roach’s New Jersey market areas, properties under contract have decreased by 11.9 percent from 1,966 under contract in January 2021 to 1,732 in January 2022. Gloucester County had the biggest decrease compared to January 2021, of 21.6 percent, while Camden County decreased 16.7 percent compared to January 2021.

Other January 2022 HomExpert Market Report© findings:

Main Line:

  • Home sales on the Main Line’s nine major municipalities/townships have decreased 10.1 percent, with 196 homes sold in January 2022, compared to 218 homes sold in January 2021.
  • Average sale price decreased by 1.6 percent, from $737,734 in January 2021 to $726,100 in January 2022.
  • Properties under contract have decreased by 26.9 percent, with 198 in January 2022 and 271 in January 2021.
  • Monthly average inventory decreased by 40.9 percent, with 381 homes for sale in January 2022 and 645 homes for sale in January 2021.
  • Average days on market decreased by 6 percent, with 34 days on market in January 2022 and 36 days on market in January 2021.

Delaware:

  • Total properties sold in Kent and New Castle Counties are up by 11.6 percent, from 804 sold in January 2021 to 683 sold in January 2022. New Castle County had an 11.1 percent increase in properties sold in January 2022, compared to January 2021 and Kent County increased by 24 percent.
  • Average sale price in Delaware is up by 14.2 percent, from $278,787 in January 2021 to $318,326 in January 2022. New Castle County sale price increased 15 percent and Kent County increased 13.2 percent.
  • Average days on market in Delaware decreased by 14.3 percent, from 28 days in January 2021 to 24 days in January 2022. The average days on market in New Castle County decreased 35.5 percent.
  • Monthly average inventory in Delaware decreased by 11.6 percent, from 963 homes for sale in January 2021 to 851 for sale in January 2022. In New Castle County, there were 13.3 percent less homes for sale, and in Kent County, there were 8.4 percent less homes for sale.
  • Properties under contract in Delaware decreased by 0.4 percent, from 774 properties under contract in January 2021 to 771 properties in January 2022.

Jersey Shore:

  • Atlantic County’s home sales decreased by 34.6 percent, with 308 homes sold in January 2022 and 471 homes sold in January 2021. Average prices of homes are up by 3 percent, from $438,347 in January 2021 to $450,726 in January 2022. Properties under contract decreased by 23.7 percent, from 619 under contract in January 2021 to 472 under contract in January 2022. Average days on market is up by 10.9 percent compared to January 2022. Monthly average inventory is down by 18.2 percent.
  • Cape May County home sales decreased 27.8 percent, with 174 homes sold in January 2022 and 241 sold in January 2021. The average price of properties sold increased by 29 percent, from $682,117 in January 2021 to $878,040 in January 2022. The monthly average inventory is down by 17.3 percent and properties under contract are down by 36.6 percent, compared to January 2021.

Lehigh Valley:

  • Home sales in the Lehigh Valley decreased by 0.9 percent, with 530 homes sold in January 2022 compared to 535 homes sold in January 2021.
  • Average sale price on homes is up by 17.2 percent, from $266,033 in January 2021 to $311,912 in January 2022.
  • Monthly average inventory is down by 33.2 percent, with 1,246 homes for sale in January 2022 compared to 1,864 homes for sale in January 2021.
  • Average days on market is down by 8.2 percent, from 25 days in January 2021 compared to 23 days in January 2022.
  • Properties under contract have decreased by 3.1 percent, with 529 properties under contract in January 2022 and 546 under contract in January 2021.

The Greater Philadelphia region includes counties in Southeastern Pennsylvania, Southern New Jersey and Delaware, which are: Philadelphia, Bucks, Chester, Delaware, Montgomery, Burlington, Camden, Gloucester, Mercer, Salem, Kent and New Castle. Main Line data includes Malvern Borough, Tredyffrin Township, Willistown Township, Easttown Township, Haverford, Newtown, Radnor, Narberth, and Lower Merion. Center City data includes zip codes 19102, 19103 (Rittenhouse Square), 19106 (Old City), 19107 (Washington Square), 19123 (Northern Liberties/Fishtown), and 19130 (Fairmount/Art Museum). The Lehigh Valley region includes both Lehigh and Northampton Counties. Additional charts and graphs available upon request. Top municipalities listed include 20 or more sales. Days on Market (DOM) data measures the number of days a property is listed from initial list date in the multiple listing service (MLS) until the property goes under contract.

Thanks for visiting! MyChesCo brings reliable information and resources to Chester County, Pennsylvania. Please consider supporting us in our efforts. Your generous donation will help us continue this work and keep it free of charge. Show your support today by clicking here and becoming a patron.

Categories
#GreaterPrincetonNJ

U.S. labor market still tightening; freezing temperatures chill homebuilding – Reuters

Reading Time: 4 minutes
HKKP3BBCI5MWLF352EEMHOA7V4
  • Weekly jobless claims increase 23,000 to 248,000
  • Continuing claims fall 26,000 to 1.593 million
  • Housing starts drop 4.1% in January; permits rise 0.7%
  • Single-family starts fall 5.6%; permits jump 6.8%

WASHINGTON, Feb 17 (Reuters) – The number of Americans filing new claims for jobless benefits unexpectedly rose last week, but remained below pre-pandemic levels as labor market conditions continue to tighten.

The first increase in a month reported by the Labor Department on Thursday did not change economists’ expectations for another month of solid employment gains in February.

There is an acute shortage of workers, which has seen employers boosting wages and offering other incentives to retain their workforce as well as attract labor. Economists blamed the rise in claims on week-to-week volatility in the data and harsh weather in some parts of the country.

Register now for FREE unlimited access to Reuters.com

“Given the regular noise in the data and the range of factors that can impact filings we don’t think the recent jump in initial claims filings is particularly worrisome at this point,” said Daniel Silver, an economist at JPMorgan in New York. “Overall, we think that the labor market remains tight.”

Initial claims for state unemployment benefits increased 23,000 to a seasonally adjusted 248,000 for the week ended Feb. 12. Economists polled by Reuters had forecast 219,000 applications for the latest week.

Unadjusted claims climbed 7,742 to 238,482 last week, lifted by big increases in Missouri, Ohio and Kentucky, which offset notable declines in Pennsylvania, New Jersey and Wisconsin.

Claims had been declining since hitting a three-month high in mid-January as coronavirus cases, fueled by the Omicron variant, raged across the country. Infections have dropped significantly in recent weeks.

There were a near record 10.9 million job openings at the end of December. Claims have plunged from an all-time high of 6.149 million in early April 2020.

Last week’s data covered the period during which the government surveyed business establishments for the nonfarm payrolls portion of February’s employment report. Claims are well below their 290,000 level in mid-January. The economy created 467,000 jobs in January.

Stocks on Wall Street slumped amid escalating tensions between the West and Russia over Ukraine. The dollar rose against a basket of currencies. U.S. Treasury yields fell.

MAXIMUM EMPLOYMENT

A survey from the Philadelphia Federal Reserve on Thursday showed employment at factories in the mid-Atlantic region rose strongly in February, and manufacturers also increased hours for workers. But factory activity in the region that covers eastern Pennsylvania, southern New Jersey and Delaware, grew moderately because of persistent supply constraints.

Strong wages gains from the tight labor market and snarled supply chains are boosting inflation.

Minutes of the Federal Reserve’s Jan. 25-26 meeting published on Wednesday showed “many” officials at the U.S. central bank “viewed labor market conditions as already at or very close to those consistent with maximum employment.”

The Fed is expected to start raising interest rates in March to quell inflation, with economists anticipating as much as seven hikes this year.

The claims report also showed that the number of people receiving benefits after an initial week of aid dropped 26,000 to 1.593 million in the week ended Feb. 5.

“There are no signs here of a change in labor market trends,” said Conrad DeQuadros, senior economic advisor at Brean Capital in New York.

Freezing temperatures depressed homebuilding in January. A third report from the Commerce Department showed housing starts dropped 4.1% to a seasonally adjusted annual rate of 1.638 million units last month.

Temperatures were below average from the Midwest and Tennessee Valley to the Northeast in January, according to the National Centers for Environmental Information.

Single-family housing starts, which account for the biggest share of homebuilding, tumbled 5.6% to a rate of 1.116 million. Starts fell in the Northeast, Midwest and South, but rose in the West. Last month’s decline is, however, probably temporary as building permits rose 0.7% to a rate of 1.899 million units, the highest since May 2006. Single-family permits surged 6.8% to a rate of 1.205 million units, a one-year high.

The supply of previously owned homes on the market is at record lows. But builders are facing challenges from soaring prices for inputs.

Prices for softwood lumber, which is used for framing, shot up 25.4% in January, government data showed this week.

The National Association of Homebuilders said on Wednesday that building material production bottlenecks were delaying projects, noting that “many builders are waiting months to receive cabinets, garage doors, countertops and appliances.”

The supply squeeze was underscored by a surge in the backlog of houses approved for construction but not yet started to a record last month.

Rising mortgage rates could also slow demand for housing, especially among first-time buyers. The 30-year fixed mortgage rate jumped above 4% last week for the first time since 2019, according to the Mortgage Bankers Association.

“Rising mortgage rates pose a significant risk to housing demand, but it’s unclear what type of lag would exist for this impact to appear in the construction data,” said Isfar Munir, an economist at Citigroup in New York.

“New homes can be sold before they are started, and last-bid attempts to buy homes before mortgage rates increase further could boost new home sales before the Fed actually begins hiking, this would be a positive tailwind for housing starts, at least for a few months.”

Register now for FREE unlimited access to Reuters.com

Reporting by Lucia Mutikani; Editing by Chizu Nomiyama and Andrea Ricci

Our Standards: The Thomson Reuters Trust Principles.

Categories
#GreaterPrincetonNJ

US weekly real estate update | | caledonianrecord.com – Caledonian Record

Reading Time: < 1 minute
621036d44f3b3.preview

Categories
#GreaterPrincetonNJ

Rising prices for farmland: ‘They’re not making any more of the stuff’ – Herald-Mail Media

Reading Time: < 1 minute

This content is only available to subscribers.

$1 for 6 Months.

Subscribe Now

Your subscription supports:

Investigative reporting that makes our community a better place to work, live and play

Expert coverage of high school sports teams

The best tips on places to eat and things to do

Daily newsletter with top news to know

Mobile apps including immersive storytelling

Categories
#GreaterPrincetonNJ

Facility Management for The Hotel Market a Comprehensive Study by Key Players OCS Group, Founders3 Real Estate, Sodexo, ABM – ZNews Africa – ZNews Africa

Reading Time: 4 minutes

Latest published market study on Global Facility Management for The Hotel Market provides an overview of the current market dynamics in the Facility Management for The Hotel space, as well as what our survey respondents—all outsourcing decision-makers—predict the market will look like in 2028. The study breaks market by revenue and volume (wherever applicable) and price history to estimates size and trend analysis and identifying gaps and opportunities. Some of the players that are in coverage of the study are OCS Group, Founders3 Real Estate, Sodexo, ABM, Jones Lang LaSalle, Vanguard Resources, Mitie Group PLC, Medxcel, Ecolab USA, ISS World Services, Compass Group & Aramark.

Get ready to identify the pros and cons of regulatory framework, local reforms and its impact on the Industry. Know how Leaders in Facility Management for The Hotel are keeping themselves one step forward with our latest survey analysis

Click to get Global Facility Management for The Hotel Market Research Sample PDF Copy Here @: https://www.htfmarketreport.com/sample-report/2960046-global-facility-management-for-the-hotel-market-report-2022-by-key-players-types-applications-countries-market-size-forecast-to-2028

Major highlights from the Study along with most frequently asked questions:

1) What so unique about this Global Facility Management for The Hotel Assessment?

Market Factor Analysis: In this economic slowdown, impact on various industries is huge. Moreover, the increase in demand & supply gap as a resultant of sluggish supply chain and production line have made market worth observing. It also discusses technological, regulatory and economic trends that are affecting the market. It also explains the major drivers and regional dynamics of the global market and current trends within the industry.

Market Concentration: Includes C4 Index, HHI, Comparative Facility Management for The Hotel Market Share Analysis (Y-o-Y), Major Companies, Emerging Players with Heat Map Analysis

Market Entropy: Randomness of the market highlighting aggressive steps that players are taking to overcome current scenario. Development activity and steps like expansions, technological advancement, M&A, joint ventures, launches are highlighted here.

Patent Analysis: Comparison of patents issued by each players per year.

Peer Analysis: An evaluation of players by financial metrics such as EBITDA, Net Profit, Gross Margin, Total Revenue, Segmented Market Share, Assets etc to understand management effectiveness, operation and liquidity status.

2)Why only few Companies are profiled in the report?
Industry standards like NAICS, ICB etc are considered to derive the most important manufacturers. More emphasis is given on SMEs that are emerging and evolving in the market with their product presence and technological upgraded modes, current version includes players like “OCS Group, Founders3 Real Estate, Sodexo, ABM, Jones Lang LaSalle, Vanguard Resources, Mitie Group PLC, Medxcel, Ecolab USA, ISS World Services, Compass Group & Aramark” etc and many more.

** Companies reported may vary subject to Name Change / Merger etc.

Browse for Full Report at @: https://www.htfmarketreport.com/reports/2960046-global-facility-management-for-the-hotel-market-report-2022-by-key-players-types-applications-countries-market-size-forecast-to-2028

3) What details will competitive landscape will provide?
A value proposition chapter to gauge Facility Management for The Hotel market. 2-Page profiles of all listed company with 3 to 5 years financial data to track and comparison of business overview, product specification etc.

4) What all regional segmentation covered? Can specific country of interest be added?
Country that are included in the analysis are North America (Covered in Chapter 6 and 13), United States, Canada, Mexico, Europe (Covered in Chapter 7 and 13), Germany, UK, France, Italy, Spain, Russia, Others, Asia-Pacific (Covered in Chapter 8 and 13), China, Japan, South Korea, Australia, India, Southeast Asia, Others, Middle East and Africa (Covered in Chapter 9 and 13), Saudi Arabia, UAE, Egypt, Nigeria, South Africa, Others, South America (Covered in Chapter 10 and 13), Brazil, Argentina, Columbia, Chile & Others
** Countries of primary interest can be added if missing.

5) Is it possible to limit/customize scope of study to applications of our interest?
Yes, general version of study is broad, however if you have limited application in your scope & target, then study can also be customize to only those application. As of now it covers applications Luxury Hotel, Chain Hotel & Others.

** Depending upon the requirement the deliverable time may vary.

To comprehend Global Facility Management for The Hotel market dynamics in the world mainly, the worldwide Facility Management for The Hotel market is analyzed across major global regions. Customized study by specific regional or country can be provided, usually client prefers below

• North America: United States of America (US), Canada, and Mexico.
• South & Central America: Argentina, Chile, Colombia and Brazil.
• Middle East & Africa: Kingdom of Saudi Arabia, United Arab Emirates, Turkey, Israel, Egypt and South Africa.
• Europe: the UK, France, Italy, Germany, Spain, NORDICs, BALTIC Countries, Russia, Austria and Rest of Europe.
• Asia: India, China, Japan, South Korea, Taiwan, Southeast Asia (Singapore, Thailand, Malaysia, Indonesia, Philippines & Vietnam etc) & Rest
• Oceania: Australia & New Zealand

Enquire for customization in Report @ https://www.htfmarketreport.com/enquiry-before-buy/2960046-global-facility-management-for-the-hotel-market-report-2022-by-key-players-types-applications-countries-market-size-forecast-to-2028

Basic Segmentation Details
Global Facility Management for The Hotel Product Types In-Depth: , Catering, Gardening & Others

Global Facility Management for The Hotel Major Applications/End users: Luxury Hotel, Chain Hotel & Others

Geographical Analysis: North America (Covered in Chapter 6 and 13), United States, Canada, Mexico, Europe (Covered in Chapter 7 and 13), Germany, UK, France, Italy, Spain, Russia, Others, Asia-Pacific (Covered in Chapter 8 and 13), China, Japan, South Korea, Australia, India, Southeast Asia, Others, Middle East and Africa (Covered in Chapter 9 and 13), Saudi Arabia, UAE, Egypt, Nigeria, South Africa, Others, South America (Covered in Chapter 10 and 13), Brazil, Argentina, Columbia, Chile & Others & Rest of World

For deep analysis of Facility Management for The Hotel Market Size, Competition Analysis is provided which includes Revenue (M USD) by Players (2019-2022E) & Market Share (%) by Players (2019-2022E) complimented with concentration rate.

Complete Purchase of Global Facility Management for The Hotel Report 2022 at Revised Offered Price @ https://www.htfmarketreport.com/buy-now?format=1&report=2960046

Actual Numbers & In-Depth Analysis of Global Facility Management for The Hotel Market Size Estimation and Trends Available in Full Version of the Report.

Thanks for reading this article, you can also make sectional purchase or opt-in for regional report by limiting the scope to only North America, ANZ, Europe or MENA Countries, Eastern Europe or European Union.


Contact US :
Craig Francis (PR & Marketing Manager)
HTF Market Intelligence Consulting Private Limited
Unit No. 429, Parsonage Road Edison, NJ
New Jersey USA – 08837
Phone: +1 (206) 317 1218
[email protected]

Connect with us at LinkedIn | Facebook | Twitter

Categories
#GreaterPrincetonNJ

With an influx of new residents recently, Sheridan faces a lack of housing options – Wyoming Public Media

Reading Time: 4 minutes
?url=http%3A%2F%2Fnpr brightspot.s3.amazonaws.com%2F88%2F34%2F4b0dcc864f549974e7848dd81a85%2F20220201 131945

The population of Sheridan has grown over the past two decades, but an ever-increasing number of new residents have put stress on the housing market, with too few properties available for those looking to buy and rent. This is largely due to relocation trends that have occurred during the pandemic.

“People are very intentional about how they want to live now, and they will look for a place to live that gives them the lifestyle that they want, and then find out how to either move their business or work there,” said Marie Lowe, an Associate Broker at Century 21 BHJ in Sheridan. “It’s not following a job.”

Lowe stated that the number of inquiries for real estate skyrocketed during the pandemic. And despite the notion that some people have about new residents not caring about Sheridan or Wyoming, she said that isn’t true.

“I would say the majority of the people moving in have a connection with Sheridan or Wyoming,” she said. “They either grew up here, their parents move here, their kids moved here.”

Lowe also said that the number of new arrivals to the area isn’t insignificant and equates to approximately 20 percent of real estate sales. She said the quality of life issues are among the chief reasons for relocating as well as the friendly tax incentives Wyoming offers. She also said that its many outdoor opportunities are also a draw.

They’re not coming from anyone specific state or region either, she said.

Zoning Map

“We have a map in our office, and we put pins where people come from, and there are more pins from Colorado, California, Oregon recently, Washington, Texas, New Jersey, New York, all of those states,” Lowe said. “But really, all over the country.”

Though many of her clients are older or in the later stages of their careers, she’s also dealt with many younger people, including young families.

“Sheridan is getting more and more desirable,” she said. “You know, we now have reliable airline service so you can commute or if you have to travel for work, we have more restaurants, we have trail systems to draw young people,” she said.

Lowe stated other areas of Sheridan County have been popular as well, including Dayton, Ranchester, Big Horn, and Story. She said those moving to those communities usually have to pay more there than in Sheridan.

To better understand the housing situation in the area, including what is needed to meet the demand the city, county, and the Sheridan Economic and Educational Development Authority hired Gruen Gruen Associates. They are a research firm that studies housing and real estate as part of its research analysis profile.

“We found that the community was very housing supply-constrained.” So, for example, residential construction has been at much lower levels than before the Great Recession. There just hasn’t been as much housing built,” said Debra Jeans, a principal with Gruen Gruen Associates.

Their study concluded that approximately 1,000 housing units will need to be constructed in Sheridan County over the next decade, the majority of which will need to be in or near Sheridan.

“Much of the demand going forward, and in the more recent years, is really due to two, two or three groups: employment opportunities, and the aging of households who are either aging within the town or moving in and they’re out of their prime working years,” said Aaron Gruens. a principle with Gruen Gruen Associates “The households that are moving from other areas because of the desirability of Sheridan as a retirement or destination or haven, they generally have relative affluence, even if they don’t have high incomes. So, they can afford higher-priced housing in essentially the kind of semi-custom or custom homes that typically are built in Sheridan.”

City officials and the Sheridan Economic and Educational Development Association have actively been courting certain types of businesses in an effort to diversify the local economy. Several have done so over the past several years, including those in specialized manufacturing. Gruen said wages at some of these companies are approximately $20 an hour. But he also said these kinds of wages can’t keep up with housing and rental prices.

“We had stories of businesses telling us they offer jobs to people who are not in town, younger people, out of school, and by the time the kids got to, you know the young adults, the recent graduates got to town to look for the apartment, the apartment was gone, so they were starting their jobs working from outside the region,” Gruen said.

However, this poses some unique problems. Seniors who are looking to downsize have few options for smaller residences, such as condos. And younger people, especially ones with families are being priced out of the market.

“One of the recommendations was to reduce, to change the rules, the regulations, to allow more homes on a given parcel of land so the homes wouldn’t have to be as big, and they could be lower-priced,” Gruen said. “And what that would do is encourage the folks that are in very large homes there were for their families to free up houses that would then become available to family households.”

Wade Sanner is the Community Development Director for the City of Sheridan. He said the housing study was commissioned due to economic development reasons.

“We have a number of businesses that we’ve been actively recruiting to diversify our local economy, and what had happened was some of those businesses that we were looking at started giving us a head’s up that ‘Hey, we can’t locate to Sheridan because the cost of housing, the cost to employ some people because of housing is too high,'” he said.

Initial ideas of population growth were overestimated but are significantly higher than they were just a few years ago, Sanner said.

“We just thought it was growing very rapidly, just from what we had read with influx from California and Colorado,” Sanner said. “When Gruen and Gruen had done it, then we found out it wasn’t as high, but it is a substantial amount.”

Future expansion in Sheridan is set to spread out in all directions, though some areas are more accessible and equipped than others.

“We primarily have looked at the north and west of our city boundaries just because that’s where land became available, so then we started planning that, but the market has been driving to the south, so that kind of does its own thing,” Sanner said. “The east side hasn’t had [it] because we have the highway right there. A lot of that, we do have some residential out there, but that’s just a purely logistic [thing].”

According to the 2020 Census figures, Sheridan County’s population was 30,921, while the City of Sheridan was 18,787.

Categories
#GreaterPrincetonNJ

Five-day office workweeks may be gone forever. So what happens to all those office parks? – NorthJersey.com

Reading Time: < 1 minute

This content is only available to subscribers.

Twosday Flash Sale. Today Only!​

2 Years for $22

Subscribe Now

Your subscription supports:

Investigative reports that give you the scoop on New Jersey schools, politics, environment and the mob.

Unmatched North Jersey high school sports from our Varsity Aces team.

Dining out? We’ll get you to the hottest places in North Jersey.

Daily newsletter with top news to know.

Mobile apps including immersive storytelling.

Categories
#GreaterPrincetonNJ

Pension Real Estate Market is set to Fly High Growth in Years to Come | Cofinimmo, Korian, Orpea – Materials Handling – Materials Handling

Reading Time: 4 minutes

Pension Real Estate Market, Global Outlook and Forecast 2022-2028 is latest research study released by HTF MI evaluating the market risk side analysis, highlighting opportunities and leveraged with strategic and tactical decision-making support (2022-2028). The report provides information on market trends and development, growth drivers, technologies, and the changing investment structure of the Pension Real Estate Market. Some of the key players profiled in the study are China Poly Group Corporation, China Vanke Co.,Ltd, China Resources Land Holdings Limited, Capital Land Limited, Greenland Holdings Corporation Limited, Zhejiang Yuntian Group Co., Ltd, Del E. Webb Construction Company, Groupe Primonial, Cofinimmo, Korian, Orpea, Domusvi, Silver Care, Dussmann & Tertianum Group.

Click to Get Free Sample PDF (Including Full TOC, Table & Figures) @ https://www.htfmarketreport.com/sample-report/3874607-pension-real-estate-market

Pension Real Estate Market Overview:

The study provides comprehensive outlook vital to keep market knowledge up to date segmented by High Income Class, Middle Class & Low-income Group, , Global Pension Real Estate Market Segment Percentages, by Type, Apartments for The Elderly, Dedicated Senior Living Quarters, Newly Built Residential Area Suitable for Aging General Housing, The Original House Is Suitable for Aging Renovation & Others and 18+ countries across the globe along with insights on emerging & major players. If you want to analyse different companies involved in the Pension Real Estate industry according to your targeted objective or geography we offer customization according to requirements.

Pension Real Estate Market: Demand Analysis & Opportunity Outlook 2028

Pension Real Estate research study defines market size of various segments & countries by historical years and forecast the values for next 6 years. The report is assembled to comprise qualitative and quantitative elements of Pension Real Estate industry including: market share, market size (value and volume 2015-2020, and forecast to 2028) that admires each country concerned in the competitive marketplace. Further, the study also caters and provides in-depth statistics about the crucial elements of Pension Real Estate which includes drivers & restraining factors that helps estimate future growth outlook of the market.

The segments and sub-section of Pension Real Estate market is shown below:

The Study is segmented by following Product/Service Type: Apartments for The Elderly, Dedicated Senior Living Quarters, Newly Built Residential Area Suitable for Aging General Housing, The Original House Is Suitable for Aging Renovation & Others

Major applications/end-users industry are as follows: High Income Class, Middle Class & Low-income Group

Some of the key players involved in the Market are: China Poly Group Corporation, China Vanke Co.,Ltd, China Resources Land Holdings Limited, Capital Land Limited, Greenland Holdings Corporation Limited, Zhejiang Yuntian Group Co., Ltd, Del E. Webb Construction Company, Groupe Primonial, Cofinimmo, Korian, Orpea, Domusvi, Silver Care, Dussmann & Tertianum Group

Enquire for customization in Report @ https://www.htfmarketreport.com/enquiry-before-buy/3874607-pension-real-estate-market

Important years considered in the Pension Real Estate study:
Historical year – 2015-2020; Base year – 2021; Forecast period** – 2022 to 2028 [** unless otherwise stated]

If opting for the Global version of Pension Real Estate Market; then below country analysis would be included:
• North America (USA, Canada and Mexico)
• Europe (Germany, France, the United Kingdom, Netherlands, Italy, Nordic Nations, Spain, Switzerland and Rest of Europe)
• Asia-Pacific (China, Japan, Australia, New Zealand, South Korea, India, Southeast Asia and Rest of APAC)
• South America (Brazil, Argentina, Chile, Colombia, Rest of countries etc.)
• Middle East and Africa (Saudi Arabia, United Arab Emirates, Israel, Egypt, Turkey, Nigeria, South Africa, Rest of MEA)

Buy Pension Real Estate research report @ https://www.htfmarketreport.com/buy-now?format=1&report=3874607

Key Questions Answered with this Study
1) What makes Pension Real Estate Market feasible for long term investment?
2) Know value chain areas where players can create value?
3) Teritorry that may see steep rise in CAGR & Y-O-Y growth?
4) What geographic region would have better demand for product/services?
5) What opportunity emerging territory would offer to established and new entrants in Pension Real Estate market?
6) Risk side analysis connected with service providers?
7) How influencing factors driving the demand of Pension Real Estate in next few years?
8) What is the impact analysis of various factors in the Pension Real Estate market growth?
9) What strategies of big players help them acquire share in mature market?
10) How Technology and Customer-Centric Innovation is bringing big Change in Pension Real Estate Market?

Browse Executive Summary and Complete Table of Content @ https://www.htfmarketreport.com/reports/3874607-pension-real-estate-market

There are 15 Chapters to display the Pension Real Estate Market
Chapter 1, Overview to describe Definition, Specifications and Classification of Pension Real Estate market, Applications [High Income Class, Middle Class & Low-income Group], Market Segment by Types , Global Pension Real Estate Market Segment Percentages, by Type, Apartments for The Elderly, Dedicated Senior Living Quarters, Newly Built Residential Area Suitable for Aging General Housing, The Original House Is Suitable for Aging Renovation & Others;
Chapter 2, objective of the study.
Chapter 3, Research methodology, measures, assumptions and analytical tools
Chapter 4 and 5, Pension Real Estate Market Trend Analysis, Drivers, Challenges by consumer behaviour, Marketing Channels, Value Chain Analysis
Chapter 6 and 7, to show the Pension Real Estate Market Analysis, segmentation analysis, characteristics;
Chapter 8 and 9, to show Five forces (bargaining Power of buyers/suppliers), Threats to new entrants and market condition;
Chapter 10 and 11, to show analysis by regional segmentation [United States, Europe, Asia, China & Rest of World], comparison, leading countries and opportunities; Customer Behaviour
Chapter 12, to identify major decision framework accumulated through Industry experts and strategic decision makers;
Chapter 13 and 14, about competition landscape (classification and Market Ranking)
Chapter 15, deals with Pension Real Estate Market sales channel, research findings and conclusion, appendix and data source.

Thanks for showing interest in Pension Real Estate Industry Research Publication; you can also get individual chapter wise section or region wise report version like North America, LATAM, United States, GCC, Southeast Asia, Europe, APAC, United Kingdom, India or China etc

About Author:
HTF Market Intelligence consulting is uniquely positioned empower and inspire with research and consulting services to empower businesses with growth strategies, by offering services with extraordinary depth and breadth of thought leadership, research, tools, events and experience that assist in decision making.


Contact US:
Craig Francis (PR & Marketing Manager)
HTF Market Intelligence Consulting Private Limited
Unit No. 429, Parsonage Road Edison, NJ
New Jersey USA – 08837
Phone: +1 (206) 317 1218
[email protected]

Connect with us at LinkedIn | Facebook | Twitter

Categories
#GreaterPrincetonNJ

If Inflation Recedes, Kean, Jr. Will Lose – InsiderNJ

Reading Time: 4 minutes
tommalinow

The race for the US House of Representatives seat from the New Jersey Seventh Congressional District is a remarkable microcosm of most of the nation’s “swing” districts with a Democratic incumbent. 

The major social issues of gun violence and abortion choice decisively favor incumbent Democratic Congressman Tom Malinowski. 

So does the continuing “Trump factor,” especially as the news of the legal situation of the former president worsens. 

The economic issues truly are a double-edge sword. 

Most of the economic news is actually favorable to Democratic incumbents, although the Democratic Party has performed abysmally in messaging the good news.  The prime example of this is job growth.   Individuals who lost their jobs during the Trump administration, especially during the height of the Covid, are returning to work during the Biden administration, either to their former jobs or to new or better jobs. 

The problem for Democratic incumbents is that inflation continues to be the dominant economic issue in the political sphere, especially in view of the recent Labor Department report for the month of January, 2022 reporting an annual increase in the Consumer Price Index of 7.5 percent.   

This inflationary growth outpaces wage growth, resulting in a more difficult economic situation for working and middle-class families. 

The current round of inflation is not due to the increase in monetary quantity per se. That increase by the Federal Reserve in the monetary supply since the onset of the Covid (i.e., “quantitative easing”) was effectuated in order to 1) finance the various financial assistance programs for Americans ravaged by the financial impact of the Covid; and 2) stimulate the economy overall, which had sunk to a negative growth state.

The prevailing inflation is a result of the increase in monetary velocity rather than solely monetary quantity growth.  “Monetary velocity” is defined by economists as the rate at which one unit of money supply currency is being transacted for goods and services in an economy. In layman’s terms, monetary velocity is the rate at which consumers and businesses in an economy collectively spend money. Inflation is the product of both monetary growth and monetary velocity. 

The economic philosophy of monetarism, i.e., the belief that inflation is solely an impact of monetary growth without considering monetary velocity has largely been discredited since the tenure of former Federal Reserve Chair Paul Volcker in the early 1980s.  The flaw in monetarism is that if the quantity of money increases yet consumers and businesses “park” the money rather than spend it, there is no resulting inflation. 

This flaw in the philosophy of monetarism was decisively proven when in spite of the unprecedented quantitative easing implemented by the Fed in early 2020, the inflation rate remained very low.  Inflation resulted later from the dramatic increase in monetary velocity resulting from the reentry of consumers into the market place after the initial and worst period of the Covid.  

During that initial Covid period, consumers purchased a minimal amount of household, food, and fuel products and instead used their dollars to acquire Covid-related services.  In other words, monetary velocity remained low, and so did inflation.  In a nutshell, the low inflation of the initial Covid period, in spite of the overwhelming growth of the monetary supply, was due to consumers and businesses “parking“ their money. 

The post-initial Covid period consumer reentry into the marketplace was characterized by an overwhelming sudden increase in the purchase of such household, food and fuel products.   Consumers and businesses were no longer parking their money.  This huge increase in the demand for products as opposed to services was the compelling factor in the astronomic rise in monetary velocity, causing the inflation we now experience. 

Domestic monetary supply growth can be predicted fairly accurately by monitoring the policies of the Federal Reserve Board, i.e., discount rates, purchases of federal securities, etc.  By contrast, monetary velocity is more dependent on events and trends extraneous to government policy. Examples of such extraneous factors include international conflict, domestic ethnic and racial discord, natural disasters, health catastrophes, scientific advances, and climate disturbance.  Given the unpredictability of these extraneous matters, monetary velocity also is largely unpredictable. 

Since inflation is a product of both monetary growth and monetary velocity, the continuing future uncertainty of monetary velocity makes it most problematic to predict the length and extent of the current inflation. 

Yet it is possible to predict, with reliable assurance the political consequences of either the acceleration, continuance, or diminishment of the current inflation as to the forthcoming Congressional midterm elections. 

The most compelling factor promoting the likelihood of the election of Tom Kean, Jr. is the current prevailing inflation.  Yet in spite of the virulence of this inflation, the Greenberg Quinlan Rosner Research poll released this week showed Kean running no better than even with Tom Malinowski.   

If this inflation significantly recedes before September, Tom Kean, Jr. is likely to lose – as will a number of other Republican challengers to Democratic Congressional incumbents this November. 

Last in a four-part series on the Malinowski-Kean race. 

Alan J. Steinberg served as regional administrator of Region 2 EPA during the administration of former President George W. Bush and as executive director of the New Jersey Meadowlands Commission. 

(Visited 206 times, 9 visits today)