February 2020

Found 3 blog entries for February 2020.

The Big News: Housing Starts & SalesInventory is down, prices are up, record numbers of permits are being issued. What is going on with both single-family and multi-family housing in Minneapolis? Is this the beginning of a new growth cycle? If so, where will it lead?

New Activity for Housing Starts

According to recent reports, the increase in new permits over the same period last year represents a 15% increase over 2019, for both single-family and multi-family starts. However, based on statistics from the Minneapolis Association of Realtors, there has been a decline in housing inventory of approximately 15%. Housing First Minnesota spokeswoman Katie Elfstrom notes that more families are choosing to build new homes because there are fewer homes currently available on the market,

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New Lease Accounting Standards Will Require Diligent Effort for ComplianceIt's tax season.

Amid the collective groans from business firms and individuals alike, there are also some new standards that will affect private companies and non-profits with a lot of leased space on the books. The new standards are already in effect for publicly held corporations.

Updated standards were originally timed to become effective in December 2019 for all business entities, but the target date for implementation by private firms is now the first fiscal reporting year after December 15, 2020. Even with the year-long reprieve, the change may well be burdensome, according to some tax accountants.

Affected businesses must treat operating leases as liabilities, according to the Financial Accounting Standards Board (FASB), under the new

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New Deloitte Survey Taps into CRE Enthusiam for 2020The commercial real estate world is changing, according to an insightful Deloitte survey of CRE executives. Location, while still important, may no longer be the prime driver of success. Today, tenant experience is at the forefront, say leaders in the field from more than 10 nations. Their assessment may alter the focus of future development.

Here is what to look at for 2020 and beyond.

Rather than focusing on the physical, the new emphasis is on something a bit more difficult to define and analyze. It's an evolution of sorts, based on a 2016 prediction by Deloitte analysts that the "new mantra" for commercial real estate would become a three-legged stool of "location, information, and analytics."

Those same analysts now say the industry has

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