HAPPY HALLOWEEN! (be careful out there today......)
DID YOU KNOW? Yesterday the Federal Reserve cut interest rates for the third time this year and began to downplay expectations of further cuts for now. The policy statement signaled a potentially higher bar for rate reductions after the latest move, which will drop the target for the federal funds rate to a range between 1.5% and 1.75%.
DID YOU KNOW? Vancouver-based Westbank Corp. has landed $450 million in construction financing for a planned 47-story downtown tower -- replete with a cantilevered rooftop pool, gardens and apple orchard. (BLOOMBERG)
DID YOU KNOW? Seattle's economy grew at three times the rate of the median U.S. city last year—8.4%, or 7% net of inflation. It’s home to not only Amazon but also to Boeing, Costco, Nordstrom, and Starbucks.
DID YOU KNOW? Last month, the median home price inside the Austin city limits leaped 11.9% to $406,000, an all-time high for any September. The number of single-family home sales inside the city limits increased by almost 15% to 798 sales. (Austin Board of Realtors)
DID YOU KNOW? Chicago's Mayor Lori Lightfoot is proposing a transfer tax in Chicago: .55% for sales under $500,000; .95% for sales between $500,000 -$1 million; 1.5% for sales of $1-3 million and 2.55 % for sales over $10 million. Be careful Chicago: Manhattan raised mansion/transfer taxes in July of this year and market activity plummetted! (Chicago Tribune)