For Rent: Rentals on the move.
“The vacancy rate is better than it was in 2009,” Hoppe said. “At the end of 2009, the vacancy rate in Grand Junction was around 13.2 percent. We’ve worked our way back to a better rate.”
According to a recent statewide rental survey by the Colorado Division of Housing, the local vacancy rate was running around 6 percent in the second quarter of 2011. Hoppe said that the vacancy rate for rental properties managed by Bray has fallen to about 5 percent.
Forecast says double-dip recession is imminent
NEW YORK (CNNMoney) -- The U.S. economy is staring down another recession, according to a forecast from the Economic Cycle Research Institute.
"It's either just begun, or it's right in front of us," said Lakshman Achuthan, the managing director of ECRI. "But at this point that's a detail. The critical news is there's no turning back. We are going to have a new recession."
Personal income falls as spending rises in August
NEW YORK (CNNMoney) -- Americans earned less money last month than they did the month before, according to government data released Friday, but spending still rose.
The report showed personal income fell 0.1% in August, after increasing 0.1% the month before. It's the first time income has dropped in two years and a move that could mean less spending power at a time when the economy is in desperate need of a boost.
The Group CEO leaves job on Friday
Chuck McNeal, chairman and CEO of The Group Inc. Real Estate, Northern Colorado’s largest real estate company, is leaving the company to join CitiBank.
McNeal will become senior vice president and brand relations executive for the Global Partnership Channel at CitiBank but will continue to live in Fort Collins. He begins his new job as of Oct. 1.
Housing Prices Unlikely to Recover Before 2020, FICO Survey Finds
MINNEAPOLIS, Sep 30, 2011 (BUSINESS WIRE) -- FICO's latest quarterly survey of bank risk professionals offered a decidedly pessimistic outlook, reversing the growing optimism seen in late 2010 and early 2011. The survey, conducted for FICO by the Professional Risk Managers' International Association (PRMIA), shows that bankers expect delinquencies on consumer loans to rise, underwriting standards to become stricter, and the housing sector to continue struggling far into the future.