November 23, 2015
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Ready for a rate hike?
In its October 2015 Economic and Mortgage Finance Commentary, the Washington, D.C.-based Mortgage Bankers Association indicated it anticipates nearly $905 billion in purchase mortgage originations in 2016, which is a 10 percent increase from 2015, and refinance originations to decrease by nearly 33 percent to $415 billion due to the likelihood of rising rates. Dan […]
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Economists offer tempered enthusiasm for 2016
If there was excitement about the economic forecast for 2016, it was tempered inside the Gainey Conference Center at Cornerstone University last week. Economic experts from four of West Michigan’s faith-based colleges preached caution and lowered expectations for the next fiscal year at the Economic Symposium at Cornerstone Wednesday. As the nation’s economic growth begins […]
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Doorbusters a bust?
(As seen on WZZM TV 13) Consumers might want to be a tad wary of Black Friday deals this year, according to a NerdWallet study. NerdWallet, a personal finance website, analyzed 21 Black Friday advertisements and found 95 percent of those retailers plan to run the same deals this year as last. The analysis also […]
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Street Talk: Economic reality check
Michigan Future Inc. recently released its first report in nearly a decade evaluating the performance of the state during an “expanding Michigan economy.” Although there were a number of positive highlights — the state led the nation in terms of job growth during 2010 and 2014 with an 8.6 percent increase compared to the country’s […]
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Public Record
MORTGAGES Selected mortgages filed with Kent County Register of Deeds BLURY, Nathan Anthony II et al, Guaranteed Rate, Marlo Farms, Lot 3, $238,750 IRISH, Farid et al, Mortgage Research Center LLC, Hidden Hills No. 5, Lot 110, $231,392 HANENBURG, Robert A. Jr. et al, Ark-La-Tex Financial Services, Waters Edge No. 2, Lot 45, $231,680 ROERSMA […]
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Stronger dollar, weaker global economy impact input prices
The Producer Price Index for inputs to construction industries declined for a fourth consecutive month in October, according to an analysis of the Bureau of Labor Statistics data released this month. The index stands at its lowest level since the first quarter of 2011 as prices for construction inputs declined 0.2 percent on a monthly […]
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Your name matters to your business prospects — or does it?
Here is a question I’ve received more than a hundred times in one form or another: How do I make a (better) name for myself? Here is the premise, the definition and the answer: In sales it’s not who you know, it’s who knows you. The challenge is not just making a name for yourself […]
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Change Ups: AgriScience facility opens for training
Phase one of a multi-phase renovation project to the former Providence Christian High School building in Fremont was recently completed. It will house the 50,000-square-foot Regional Center for AgriScience and Career Advancement and will serve Newaygo County by training workers for careers in agriculture, food and natural resources. The facility houses the county’s Regional Educational […]
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Inside Track: Caldwell makes transition from photography to philanthropy
While at Lansing Community College in the 1980s, Kyle Caldwell spent a week riding with midnight ambulance shifts. Caldwell chose to document those rides for the field experience that was required for a degree in photojournalism, which he received in 1985. Unlike many of the other students who preferred to photograph fashion or architecture, Caldwell […]
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’Tis the season for tax-planning opportunities and decisions
The presidential candidate debates have been running on the cable business news channels, covering tax and economic policy views of the candidates. At times, the statements have been both provoking and entertaining. In some respects, I prefer the daytime programing on the business channels, which has included a fair share of merger and acquisition activity […]
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Letter: Downtown Grand Rapids is moving forward, not backward
Editor: A public discussion 18 months in the making moves to a climatic stage in December, as the Grand Rapids City Commission considers adopting a 10-year community plan and investment strategy to transform the Grand River into a distinct asset and support the next generation of growth in downtown Grand Rapids — which anchors one […]
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Talent report sees positives — and one negative
Five years after the Great Recession, West Michigan finally is back to its pre-recession levels in payroll jobs and unemployment rates. But there’s still a long way to go in terms of talent development and retainment. That’s according to a new report from Talent 2025, a CEO-led organization that hopes to raise the bar for […]
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‘Disjointed’ downtown plan replaces realities with idealization
Grand Rapids Business Journal has since last year expressed concerns in regard to components of the GR Forward plan that would amend the Grand Rapids Master Plan if approved by the commission Dec. 15. Consultants last week expressed some of the same concerns regarding the Vital Streets portion as integrated in the GR Forward plan […]
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Local wages way below average
In the report Michigan’s Transition to a Knowledge-Based Economy 2007-2014, Michigan Future Inc. explores why the state has become a low-prosperity state and the economic challenges the state — and Grand Rapids and Detroit — must overcome to move toward high prosperity and generating a broad middle class. Lou Glazer, president of Michigan Future, said […]
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Report finds a market for homebuyers 55 and up
The 55-and-up homebuyer market is heating up, according to a new report from the National Association of Home Builders. Sales and prospective buyers increased three points during the past quarter in the 55-and-up market, while expected sales for the next six months rose another point. Builders across the country are gearing up for the increase, […]
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Event aims to attract talent home
If you left West Michigan, come back. If you are thinking about leaving, don’t. That’s what Rethink West Michigan wants to get across on Thanksgiving eve. The Right Place Inc., a regional nonprofit economic development organization, and Hello West Michigan, an organization that promotes the economic palpability of the region, have partnered again to host […]
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Consultant calls street planning disjointed
Nelson\Nygaard Consulting Associates, a San Francisco-based international firm specializing in developing transportation systems, presented its early findings from a recently completed Gap Analysis of Grand Rapids Vital Streets to the Grand Rapids City Commission during its Committee of the Whole meeting. The firm was contracted by the city for nearly $610,000 earlier this fall for […]
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Millennial home buying is now trending
Change is coming on the home-buying front. The National Association of Realtors has indicated the millennial generation now comprises the largest share of homebuyers at 32 percent, which is larger than all baby boomers combined at 31 percent. Millennials also have the largest share of first-time buyers at 68 percent. While millennials may encounter financial […]
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The economic ripple effect of SuperNAP
Should Michigan legislators pass the necessary bills, the Switch SuperNAP data center hoping to call the former Steelcase pyramid home would have a much greater economic impact than its $5 billion worth of equipment. A SuperNAP data center provides high-quality buildings with high-quality environment controls and network infrastructure to store data equipment for clients, said […]
