Rising Interest Rates

Todd McLester, owner of Hairy Cow Brewing Company, said he is about two months from breaking ground on a second location in Box Elder, South Dakota. The new brewery will sit on seven acres adjacent to Ellsworth Air Force Base. The Byron location will remain open.

Citigroup is laying off hundreds of employees at its New York and Florida branches. The bank said it plans to cut 20,000 jobs over the next two years as part of a reorganization.

The sixth annual Northern Colorado Real Estate Summit is scheduled for April 4 at the Embassy Suites by Hilton in Loveland. The conference will run from 8:30 a.m. to 4 p.m., with sessions focused on aspects of residential and commercial real estate. The credits are offered through the Boulder-Longmont Association of Realtors and the Colorado Department of Regulatory Agencies.

Evans, a Seattle native, became governor in 1964, defeating two-term Gov. Albert Rosellini, a Democrat. Evans was handily reelected twice, including in 1972. During his time as governor, Washington established the state community college system. He was suggested as a possible running mate for both Nixon and Ford.

Inflation rate... increased by 3.5% for the 12 months ending in March-up from 3.2% Core inflation held steady at a pace of 3.8% in March from a year prior. The shelter and food indices increased 5.7% and 2.2%, respectively, over the past 12 months.

Bank of America Corp BAC shares are trading lower by 1.3% to $35.88 during Friday session. A number of major U.S. banks reported first-quarter earnings Friday. JPMorgan Chase & Co. particularly stood out with earnings per share (EPS) of $4.44 and revenue of $42.55 billion, surpassing the expected $41.836 billion.

California tech firm Vyond doubles Chicago footprint with new West Loop office. The software company has seen quick growth since opening an office in 2022, growing from three to 43 employees. Vyond is located a few blocks from Google and about a mile from mHub, an incubator that opened a $50 million space last year off West Fulton Street.

The 2025 fiscal year begins May 1. Annual spending is expected to increase about 8% from the current years roughly $66 million total. The spending estimate includes about $7 million for road projects throughout the village.

Developers built fewer homes in California in 2023, potentially leading to higher prices and rents as a supply shortage worsens. Developers cite several reasons for delaying new projects. Theres high labor and material costs, as well as new local regulations that together make it harder to turn a profit. Rising interest rates add additional costs for developers who must shell out more money to build and manage their projects.