For Real Estate Professionals Seeking a Market Edge
The U.S Economy is Showing Recovery, but Jobs Remain a Significant Concern
The economy continues to struggle toward recovery, but one major hurdle remains: excessively high unemployment. Until the nation shows strong job growth, consumer spending will likely remain weak. Consumers continue to be apprehensive about spending: an anxiety that in turn holds retail numbers at all-time lows; and with consumer spending accounting for more than 70% of the nation's economy, sustained long-term GDP growth is unlikely anytime soon.
Although the unemployment rate dropped in January, it remains close to a 30-year high of 10%; and January payroll data indicates that the nation continues to lose jobs. Perhaps equally disconcerting is the low ratio of available new jobs in comparison to a high number of available workers: such a disparity has led to a significant increase in those persons unemployed for more than 26 weeks.
If the United States economy continues to demonstrate improvement while the number of employed workers does not rise, analysts believe that it will take an extended period before economic indicators to return to balanced levels.
We will keep you posted…
$7,500,000 Multi-Tenant Retail Loan Quote
This week, Penstar obtained a refinance loan quote for the cash-out of a non-traditional anchored retail center in Southern California. Roll-over risk is mitigated as the center offers a strong location with a history of high occupancy and below market rents. Loan terms are: 60% LTV, a 6.90% fixed rate of interest for 10 years, 25-year amortization, yield maintenance prepayment, and a repayment guarantee from the borrower. To discuss, please contact David Stepanchak at (818) 883-9611 or DStep@PenstarAdvisors.com.
Helpful Humor
The best antidote for those challenging transactions is to take a moment to have a hearty laugh. Helpful humor is our way of infusing laughter into your work-week
“Horsing Around” His second friend says: “I think my wife is having an affair with the plumber. Yesterday I discovered a pipe wrench under the bed and it doesn't belong to me.” After a brief pause, Peter admits: “I think my wife is having an affair, too;” “with a horse.” Both his friends look at him in utter disbelief. “I’m serious!” exclaims Peter. “The other day I came home and found a jockey under our bed.” |
30
Day Libor |
10-Year
Treasury |
Prime |
0.23% |
3.64% |
3.25% |
Penstar Realty Advisors can be reached at (818) 883-9600.
Our offices located at:
21700 Oxnard Street, Suite 1870, Woodland Hills, CA 91367