Economists unhappy with Fed's decision to keep raising rates | Strategies that will help advance your career | Expert: Don't let stress control your business
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July 27, 2023
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Top News
The Federal Reserve votes in favor of another rate increase, which could keep the pressure on already-high mortgage rates, housing economists say.
Full Story: REALTOR® Magazine (7/27) 
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Best Practices in Sales & Marketing
Having a clear understanding of your goals and mapping out a path to achieve them can help you develop and advance in your career. Other important steps include taking advantage of mentorship programs and making the most of performance reviews.
Full Story: Entrepreneur (7/24) 
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Stress damages physical health, problem-solving abilities, work performance and relationships, writes leadership expert Indiana Lee, noting that entrepreneurs must regain control to build their companies. Try breathing exercises, laughter and gratitude, and if those don't work, seek professional help, Lee notes.
Full Story: ColoradoBiz Magazine online (7/19) 
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Real Estate Trends
Contract signings picked up the pace last month, and home buyers are increasingly facing multiple offer situations. NAR releases its housing forecast for the remainder of the year and 2024.
Full Story: REALTOR® Magazine (7/27) 
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The 30-year fixed-rate mortgage is up nearing a 7% average, pressing on home buyers' budgets.
Full Story: REALTOR® Magazine (7/27) 
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Sandrine Abessera and Lubov Azria have turned their home in the Venice neighborhood of Los Angeles into a gallery, blurring the line between their living space and a place for art.
Full Story: The New York Times (7/25) 
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The commercial real estate technology firm VTS reports that San Francisco's office market saw increased demand in the second quarter, with the trend driven in part by interest from companies focused on artificial intelligence. "We're seeing a huge increase in the need for more office space for certain companies," said Mayor London Breed, who noted that life sciences businesses are also seeking space.
Full Story: Bloomberg (7/25) 
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Technology & Innovations
There are numerous payroll software tools on the market, making evaluating the options a potentially time-consuming task. Here are some tips on how to get started, what to look for and which features you should prioritize.
Full Story: TechRepublic (7/24) 
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Fair & Equitable Housing
Apartment developers have been turning to nonbank lenders such as commercial mortgage REITs, debt funds and Federal Housing Administration programs to finance their projects. Getting financing through banks has become more challenging as a result of rising interest rates and other headwinds.
Full Story: WealthManagement (7/25) 
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Legislation & Regulation
Latest estimates from the Congressional Budget Office predict the U.S. economy will avoid recession despite high interest rates and a possible uptick in unemployment, with an annualized growth of 0.4% in GDP in the second half of the year, which the CBO expects to improve over the course of 2024 and 2025. However, it also forecasts that consumer spending, which has been an important contributor to economic well-being, will decline slightly in Q4.
Full Story: The Associated Press (7/26),  Bloomberg (7/26) 
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About The National Association of REALTORS®
The National Association of REALTORS® is America's largest trade association, representing more than 1.5 million members involved in all aspects of the residential and commercial real estate industries. REALTOR® Magazine is the official magazine of NAR, bringing expert insight to real estate trends, tools, and business strategies.
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