In this episode of CERCONOMY, Alissa DeJonge recaps a recent presentation she gave for the Connecticut Alliance of Nonprofits at their annual conference. In addition to looking at some overall macroeconomic figures, Alissa shares data on the nonprofit sector’s impact on many different levels, and all the ways that it helps the Connecticut economy.
Lehman Brothers, a name that had almost disappeared over the past many years, is suddenly being heard of again - in news, radios, even on YouTube videos. It has been 10 years since the Lehman Brothers bankruptcy that demarcated the start of the most severe economic recession in decades. Looking back at 2008 compared to the current healthy national employment rates and strong market reports, we cannot help but feel glad that we have moved on.
As with the rest of the nation, Connecticut has been through a tough 10-year period. Has Connecticut climbed out the shadow of the recession? Has the economy recovered for households in Connecticut? The answer is mixed.
In this episode of the CERCONOMY podcast, Alissa DeJonge, CERC's VP of Research, is joined by Patricia McLaughlin, our Governance and Research Analyst, to discuss cohousing - planned communities of private homes clustered around shared space. Cohousing combines private homes with benefits of shared common facilities such as laundry facilities, recreational areas, and guest suites. This structure affords the opportunity for residents to age in place, and is a more sustainable approach to living.
The decline in property values after 2008 created remarkable challenges for Connecticut municipalities, which rely heavily on property taxes to fund local government. Many towns receive over 90% of their revenue from property tax; yet between 2008 and 2016, only 8 of the 169 municipalities experienced an increase in their real (inflation-adjusted) net grand list—which means the vast majority of Connecticut’s towns have experienced an erosion of purchasing power over the last several years. At the same time, budget issues at the state level have resulted in declining aid to municipalities, and other trends such as demographic shifts and regional economic conditions may impact local fiscal performance over the longer term.
In this episode of CERCONOMY, CERC's Vice President of Research, Alissa DeJonge, is joined by members of the Research department - Moshi Ying, Rachel Gretencord, and Sarah Ficenec - to discuss the economic indicators that are most important in their work, and what each means for the Connecticut economy.
Next Tuesday is Primary Day in Connecticut. As Connecticut residents, we should get out and express our preference for who should represent us in the U.S. Congress, the General Assembly, and as governor for the next few years.
Last quarter, the InformCT Consumer Confidence Survey included a question asking respondents to identify how various issues influence their votes for Congress, GA, and Governor. They were asked whether each issue – including taxes, climate change, and education – was very important, somewhat important, etc. when voting.
Connecticut residents are increasingly upbeat about the state’s economy, expressing more optimism about business conditions and the prospects for an improving economy than has been seen in years. And about two-thirds of Connecticut residents cited employment and jobs, healthcare, and taxes most frequently as very important issues they’ll consider when voting in elections this year – whether the candidates are running for Governor, the state legislature or the U.S. Congress.
Alissa DeJonge, CERC's Vice President of Research, discusses the results of the latest InformCT Connecticut Consumer Confidence Survey.
In this episode of CERCONOMY, Alissa DeJonge, CERC’s VP of Research, walks through the changes and trends that are affecting Connecticut’s main industries including healthcare, insurance, retail, warehousing, financial services, manufacturing, and construction.
Butterfly effect: A property of chaotic systems (such as the atmosphere) by which small changes in initial conditions can lead to large-scale and unpredictable variation in the future state of the system. - Merriam-Webster dictionary
Recently, vanilla bean prices have soared in the U.S, after a cyclone hit the tropical island off the south-east coast of Africa. “Seventy-nine percent of the world’s vanilla fields are in Madagascar. A shortage there has helped drive up the cost of vanilla beans from about $11 per pound in 2011 to $193 by the end of 2016”, according to CBS News.
In their March meeting, the Federal Reserve Bank voted to raise the target federal funds rate to 1.5-1.75%, with rates expected to climb to 2.9% by 2019 and 3.4% by 2020.1
All else being equal, an increase in interest rates could lead to a decrease in commercial property values. As interest rates climb, the return on alternate types of investments may increase, making real estate comparably less attractive and driving prices down. Additionally, since most real estate assets are financed, a rise in interest rates would increase the investor’s borrowing costs, driving investors to seek either an increase in operating income2 from the property or a decrease in the market value of the asset.