Good morning investors, in today’s commercial real estate news—the Vice Chairman of the Fed foresees two more rate hikes this year, retailers keep a wary eye on tourism numbers, and a small town debate on creative affordable housing.
Federal Reserve Vice Chairman Stanley Fischer said two more interest rate hikes this year will likely be “about right.” Fischer said the Fed is watching the Trump administration and will respond to whatever their economic plan is.
The Trump administration’s attempts at a travel ban may be hurting more than just immigrants. Around the world, the US is becoming seen as inhospitable to foreign travelers. The slowing international tourism may negatively impact retailers who rely on the money rich travelers bring with them.
Wonderful piece from the New York Times covering unique solutions to affordable housing and the conflicts that can arise from them. Apalachicola, NY is well known for its historic houses, should they be renovated to provide lower income families with homes? The debate is causing a stir in the small town.