Vol.44, No.15
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W E E K O F M O N D A Y, A P R I L 1 1 , 2 0 2 2
THE REGISTRY REVIEW NEW HAMPSHIRE’S STATEWIDE REAL ESTATE & FINANCIAL NEWSPAPER A Publication of The Warren Group
WEEKLY SALES OF NOTE
INTERESTING DILEMMA
Dover 111-401 REGENT DR. . . . . . . . . . . . . . . . . . . . . . . . . $11,400,000 B: Saijes Properties LLC S: Cedar River Dev LLC
Littleton
Fed’s Rate Hikes Threaten Its Goal of Narrowing Racial Gaps
ROUTE 302 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $11,200,000 B: AXGNL 1 Littleton NH LP S: Rattlesnake Northern LLC
Leaders Fear Minority Groups Will Suffer More During Downturn
Rochester
BY CHRISTOPHER RUGABER
Salem 8 KEEWAYDIN DR. . . . . . . . . . . . . . . . . . . . . . . . . . . . $8,000,000 B: Salem Lodging LLC S: Cplg Portfolio East LLC Mtg: State Bank Of Texas $6,000,000
Windham 9 IRONWOOD RD. . . . . . . . . . . . . . . . . . . . . . . . . . . . . $4,500,000 B: Nikolas Galiatsatos S: Daniel Gennarelli & Nancy M Nobile
Salem 316 N BROADWAY. . . . . . . . . . . . . . . . . . . . . . . . . . . . $4,160,000 B: O J Thrall Inc S: Twin Coast Properties LLC
Greenland 34 ORCHARD HILL RD. . . . . . . . . . . . . . . . . . . . . . . . . $3,150,000 B: Layne A Gregoire & Cindy L Gregoire S: Patrick W Carey Tr, Tr for Patrick W Carey RET
Portsmouth 3548 LAFAYETTE RD. . . . . . . . . . . . . . . . . . . . . . . . . . $2,800,000 B: Monarch Village LLC S: Naveesha Hospitality LLC Mtg: Northway Bank $6,150,000 Use: Mixed Use-prim Comm & Other, Lot: 165561sf
Gorham 365 MAIN ST. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $2,700,000 B: Ambekrupa Corp S: Rodan Enterprises LLC Mtg: Service Credit Union $1,755,000 Use: Mixed Use-prim Comm & Other, Lot: 43560sf
Newbury
THE ASSOCIATED PRESS
A
merica’s hiring boom of the past year has narrowed racial disparities in unemployment. Yet the Federal Reserve’s ongoing interest rate hikes – shaping up to be the steepest in 15 years – threaten to reverse that progress. The Fed’s rate hikes will mean higher borrowing rates that could hobble the job market and undercut a goal the Fed unveiled two years ago: To keep rates ultra-low for as long as possible, to help less advantaged workers, who often don’t benefit much from job growth until late in an economic expansion. Now, though, facing the worst inflation in four decades, the Fed has begun tightening credit and is expected to keep raising its benchmark short-term rate multiple times this year and next. Such rapid hikes, typically slow borrowing and spending and can raise unemployment and even cause a recession. During such downturns, Black and Hispanic Americans commonly suffer higher jobless rates. The Fed’s shift away from low rates comes as the African American unemployment rate has reached 6.6 percent, down sharply from its pandemic high of nearly 17 percent and a relatively low level historically. Yet it remains twice the 3.3 percent rate for whites. Hispanic unemployment is 4.4 percent. In August 2020, the Fed redefined its goal
500
400
REAL ESTATE RECORDS
3 3 4 4 4 5 6 7 8 9 9 9 10 10
“Prior to that, every Fed chair would have said something along the lines of, a rising tide lifts all boats. Now they were saying, a rising tide lifts all boats – but not to the same level, and not at the same pace,” she said. For Chair Jerome Powell and other Fed officials, the goal was to keep the economy running “hot” to reduce unemployment as much as possible. The Fed also wanted to raise too-low inflation, which had stayed stubbornly below its 2 percent annual target for roughly a decade.
450
INDEX COUNTY
of maximum employment as being “broadbased and inclusive.” For the first time, it would look beyond the overall unemployment rate and also consider jobless rates for Black and Hispanic workers in setting interest rates. Fed officials hoped that by keeping rates down, they could help narrow the nation’s persistent racial unemployment gaps. The policy represented “a significant shift,” said Stephanie Aaronson, director of economic studies at the Brookings Institution and a former Fed economist.
Number of Condo Sales
Rochester
PG
Fed Chair Jerome Powell, center, speaks during a March meeting of the Federal Open Markets Committee. The Fed’s shift away from low rates comes as the African American unemployment rate has reached 6.6 percent.
New Hampshire Market Statistics
16 OLD COUNTY RD NORTH. . . . . . . . . . . . . . . . . . . . $2,390,000 B: KP Realty LLC S: James G Breck Tr, Tr for Breck FT
291 N MAIN ST. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $2,300,000 B: Mcdonalds USA LLC S: 291 North Main Street LLC
Federal Reserve Photo
21 NORWAY PLAINS RD. . . . . . . . . . . . . . . . . . . . . . . $9,100,000 B: Saijes Properties LLC S: Wooden Ruler Realty LLC Use: Apartment Bldg - 9 + Units, Lot: 503118sf
TRANSACTIONS THRU
Belknap �������������������������� 03/25/22 Carroll ���������������������������� 03/25/22 Cheshire ������������������������ 03/25/22 Coos �������������������������������� 03/25/22 Grafton ���������������������������� 03/25/22 Hillsborough ������������������ 03/25/22 Merrimack ���������������������� 03/25/22 Rockingham ������������������ 03/25/22 Strafford ������������������������ 03/25/22 Sullivan �������������������������� 03/25/22 Bankruptcies Lien & Attachments Foreclosure, Mortgagee & Other Lien Auctions Requests for Bids & Proposals
350 300 250 200
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Feb. Mar. Mar. Apr. Apr. May May June June July July Aug. Aug. Sept. Sept. Oct. Oct. Nov. Nov. Dec. Dec. Jann Jan. Feb. Feb. ’21
’22
Number 350 350 of Sales 325 325 300 300 275 275 250 250 225 225
200 200
Continued on Page 12
Feb. Feb. ’17
Feb. Feb. ’18
Feb. Feb. ’19
Feb. Feb. ‘20
Feb. Feb. ‘21
Feb. Feb. ‘22
Year
Number of Sales
Change Prior Year
Feb. 2017 Feb. 2018 Feb. 2019 Feb. 2020 Feb. 2021 Feb. 2022
268 287 269 261 303 212
3.08% 7.09% -6.27% -2.97% 16.09% -30.03%
q Statistics based on condo sales of more than $1,000 q Source: The Warren Group
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