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Palomar Press Briefing | June 9, 2021



 INDUSTRY NEWS

June 9, 2021

 

PALOMAR BRAND AMBASSADOR, GREYSON SIGG, ADVANCES TO U.S. OPEN

Greyson Sigg, winner of last month’s Visit Knoxville Open, and Hayden Buckle, February’s LECOM Suncoast Classic champion, each shot 5-under 67 in the morning round of the 36-hole qualifier that will send the top-five players to the U.S. Open at Torrey Pines, June 17-20.

20 MARKETS WHERE APARTMENT RENTS WILL LIKELY GROW THE MOST IN 2021

As the COVID-10 pandemic appears to be waning in the U.S., multifamily rent growth is showing increasing strength, according to a recent report from data firm Yardi Matrix. This April, multifamily rents on a national basis posted the highest year-over-year increase since the onset of the pandemic, at 1.6 percent.

AMID HIRING TROUBLES, RISING PRICES, U.S. GROWTH GAINS SPEED -FED

The U.S. economic recovery accelerated in recent weeks even as a long list of supply chain troubles, hiring difficulties, and rising prices cascaded through the country, Federal Reserve officials said in their latest review of economic conditions.

JOBLESS CLAIMS FALL BELOW 400,000 FOR THE FIRST TIME SINCE THE EARLY DAYS OF THE PANDEMIC

Initial jobless claims fell below 400,000 for the first time since the early days of the Covid-19 pandemic, the Labor Department reported Thursday. First-time filings for unemployment benefits totaled 385,000 for the week ended May 29, a decline from the previous week’s 405,000.

THE ECONOMIC RECOVERY IS HERE. IT’S UNLIKE ANYTHING YOU’VE SEEN.

The U.S. economic recovery is unlike any in recent history, powered by consumers with trillions in extra savings, businesses eager to hire and enormous policy support. Businesses and workers are poised to emerge from the downturn with far less permanent damage than occurred after recent recessions.

‘SUPPLY CONSTRAINTS ARE NOT GREAT BOB’: ECONOMISTS REACT TO MAY JOBS REPORT

Total nonfarm payroll employment rose by 559,000 jobs in May, the U.S. Bureau of Labor Statistics reported Friday. The unemployment rate fell from 6.1% to 5.8%. Notable job gains were found in leisure and hospitality, which added 292,000 jobs in May, the most of any industry.

THESE SMALLER CITIES ARE MAGNETS FOR NEW RESIDENTS

While larger markets typically capture population growth and migration headlines, there are plenty of smaller or mid-sized cities in the United States that are gaining residents at an impressive pace. Many of these areas are highly dependent on domestic net migration and are likely benefitting from the influx of remote workers and retirees seeking affordability, lower taxes and better weather.

 

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