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August 2022

Salt lake city

New Trail in the Salt Lake Foothills Offers Stunning Valley Views

Soar above the din of traffic on I-80 and I-215 for one of the most expansive views in the valley

(Francisco Kjolseth | The Salt Lake Tribune) After a 1,100-foot climb, the new Parley’s Pointe Trail offers sweeping views of the Salt Lake Valley as a cyclist enjoys the view Wednesday, Aug. 10, 2022. The 4 .8 miles The trail is part of the Bonneville Shoreline Trail and winds between the Parley’s Trail bike path and the Arcadia trailhead on Lakeline Drive.

The din of cars and large trucks hurtling down Interstate 80 or curving along I-215 stands in stark contrast to last year’s relatively calm appearance of the trail winding through the hills above them .

The Parleys Pointe Trail serves as a key link in the Bonneville Shoreline Trail chain which, when the new Grandeur Peak Connector is completed in November, will stretch from H Rock deep into Mill Creek Canyon. Yet he appeared in the foothills last September without much fanfare. Perhaps that’s why the 4.8 mile path is still largely unknown. It doesn’t even have an AllTrails listing yet (although it is on forks).

But that doesn’t mean the trail should be overlooked.

(Francisco Kjolseth | The Salt Lake Tribune) Although open to bikes, dogs and foot traffic, it’s rare to see another user along the many switchbacks of the new Parley’s Pointe Trail, pictured Wednesday, August 10 2022. The 4.8-mile trail is part of the Bonneville Shoreline Trail and winds between the Parley’s Trail bike path and the Arcadia trailhead on Lakeline Drive.

It takes perseverance to get through the opening segments, which include walking along the busy Parleys Trail bike path and a noisy, exposed, and roughly paved road. In fact, for almost the first two miles, it’s hard to enjoy nature with the roar of traffic filling your ears.

However, once you hit the 1.8 mile mark, the hubbub below fades and the beauty of the trail and the sweeping views of the Salt Lake Valley fill the void. The reward at the highest point of the hike, about 3.5 miles away, is a panorama that includes downtown, the Great Salt Lake, the Oquirrh Mountains, Draper, Mount Olympus and, of course, the now-silent highway. that winds through it all. And if this sight becomes rote, bursts of sunflowers appear all along the wide but almost shadowless path.

Utah Trails did much of the heavy lifting to get the Parleys Pointe Trail built after a private developer donated 290 acres to Salt Lake City in 2019 to clear its path. The nonprofit is soliciting donations to pay for planning and environmental reviews that were not covered by grants.

(Francisco Kjolseth | The Salt Lake Tribune) While open to bikes, dogs, and foot traffic, it’s rare to see another user along the new Parley’s Pointe Trail, as the Salt Lake skyline City can be seen in the background on Wednesday August 10. , 2022. The 4.8-mile trail is part of the Bonneville Shoreline Trail and winds between the Parley’s Trail bike path and the Arcadia trailhead on Lakeline Drive.

Getting There

Do you remember that passage about perseverance? This also includes trail access.

The best option would probably be to drop a car off at the end of the trail, which is the Arcadia trailhead on Lakeline Drive, then take another car to the Foothill Drive driveway that leads to Yesco and Tolero Pharmaceuticals. Parking there also works if you only have one vehicle, but it will add another downhill mile to the hike.

From the Yesco driveway, head south on the Parleys Trail cycle path. About 0.7 mile down, just before the pedestrian overpass, the trail signed Parleys Pointe veers left. Travel about another 0.2 mile on an old paved road until the trail turns left again at another trail marker and before long begins a gradual climb.

The trail comes to a fork at 1.5 miles. Take the right branch. Soon the hustle and bustle of highway traffic will subside. After another 2 miles of gentle climbing you will reach the highest point of the hike and a rocky outcrop from which to take in the views. The remaining mile of the hike is entirely downhill. The trail ends at Lakeline Drive, just south of Carrigan Canyon Drive. Anyone wanting extra mileage can follow Lakeline to their north terminus and take the half mile H Rock connector trail to Carrigan Canyon or just return the way they came.

(Francisco Kjolseth | The Salt Lake Tribune) Mount Olympus dominates the southern view from the new Parley’s Pointe Trail as Millcreek’s Mike Coleman turns back Wednesday, August 10, 2022. The 4.8-mile trail is part of the Bonneville Shoreline Trail and winds between the Parley’s Trail bike path and the Arcadia trailhead on Lakeline Drive.

Trib Trails | Parleys Pointe | The Salt Lake Grandstand

Parleys Pointe Trail

Region: In front of Wasatch

Destination: Views of the Salt Lake Valley

Distance: 7.8km

Time: 2 hours, 10 minutes

Elevation Gain: 1,132 feet

Dog allowed: Yes

TOILET: Nope

Bike/horse: Yes

Wheelchair/e-bike accessible: Nope

Difficulty: 3

Editor’s Note • This story is available only to Salt Lake Tribune subscribers. Please support local journalism.

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Utah economy

An integrated power grid would benefit the western United States

According to a new report from the national trade association Advanced Energy Economy (AEE) by independent consultancy Energy Strategies.

A western RTO would diversify state economies and save taxpayers millions of dollars in energy costs each year, the report said. An RTO is a cooperative agreement that allows electric utilities in multiple states to share energy resources through an organized regional market. Today, the west is one of the only regions in the country without an RTO running its power grid.

Regional transmission organizations are cooperative agreements that allow electric utilities in multiple states to share energy resources through an organized regional market. (Photo by Andy A. Widmer/EyeEm via Getty Images)

The research found that all western states – which it defines as Arizona, California, Colorado, Idaho, Montana, Nevada, New Mexico, Oregon, Utah, Washington and Wyoming – would benefit economically from an RTO, which would reduce electricity prices, add energy resources and expand business in the region.

By 2030, compared to the status quo, a Western RTO could save Western states $2 billion in annual energy costs, while adding up to 4.4 GW of additional clean energy to the grid.

“The sooner the west develops an RTO, the sooner residents of the western United States will see the economic benefits of a cleaner, more efficient power grid,” said Amisha Rai, chief executive of AEE. “The West needs a power grid that is more secure, resilient to extreme weather conditions and more accommodating to an evolving energy mix. By building an RTO of the future here in the west, states can achieve these goals while creating jobs and saving money for households and businesses.

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Salt lake city government

Nothing has changed | Private detective | Salt Lake City

Click to enlarge

A little over 38 years ago, the first issue of this journal was published. As mentioned, we were then a newsletter for private clubs in Utah, published under the name of Private detective.

In 1984, the advertising of clubs and alcohol was “illegal” in a public newspaper such as this, so the newsletter was sent directly to members of specific private clubs. One of the first clubs to come on board was the Sage Supper Club in Midvale, now A Bar Named Sue, purveyor of some of the best chicken wings in those areas, by the way.

What we had to endure in 1984 is not very far from what we know today. We have the same supermajority in the Utah House and Senate. Democrats and Independents — formerly called “non-Mormons” — essentially roam the state with the sole ambition of not ever having to leave. You know that day is coming, right?

In one of these very first issues of the Private detective, the Sage Supper Club hosted a central layout advertising its entertainment, food and party schedules. Above the photos and text was the phrase the Sage adopted as his club’s motto: “The more things change, the more they stay the same.”

The owners of the club then were veterans George Boutsis and Reed James (who during the Korean War gave serious shit to the sorry guys who attacked it at Chosin Reservoir). I was asked to add the motto to their ad by Mary Jane Boutsis, George’s wife. When I asked what that meant, she laughed at me funny. “Well, what do you think that means, silly? It means exactly what it says,” she told me. “Look around!”

She was right. The walls, the fireplace, the bandstand and the kitchen were all the same, despite the changing eras and the comings and goings of customers. It’s the same with our government – same government structure in power, same results – just new faces giving smooth, self-respecting speeches.

Not that I understand the guy, but I’ve sometimes found solace in William Shakespeare’s words to validate my own experiences in modern times. It’s reassuring in a way. The closest I can find to things changing, yet remaining the same, is his line of Storm: “What is past is a prologue. Nothing in front of us matters.”

Golfers say that when they walk to the tee box after hitting their previous shot: “That was a bad hole, now play the next one.” I consider this a good strategy these days. We’ve been through a rough patch as a country in recent years, but it’s not over. It’s time to play another hole, looking to the future, understanding that you can only change yourself, not change the big patterns. We just have to deal with the mess as best we can, because at the end of the day things don’t change, we do.

On Monday, the Mar-a-Lago home of former President Donald Trump was lawfully raided by the FBI on behalf of the Justice Department. It was Trump himself who announced that his “beautiful house” had been “ransacked” and that the searchers “had broken into his safe”. Well, yeah, it happens in an FBI search.

That it was Trump himself who made the big reveal should not go unnoticed. It’s been a long strategy for him to be ahead of his opponents to get the first shots and headbutts. So, it’s no surprise that almost all of the talk since the raid hasn’t been about what the Justice Department might possibly be looking for and why, but rather about how our former president is being wronged, pissed off, and hurt. .

He has always been a whiner and is one now. Remember that when it came to bragging, he always said he had nothing to hide. So why the shading? Because, as in Shakespeare’s day, people like Trump had already left their mark in the muddy beds of history.

Like King Lear, another character in Shakespeare’s work, Trump wallows in pity. If he makes three-dimensional moves at any level, it’s to bring those who should hate him together to worship him instead. “I am a more guilty than sinful man,” exclaims King Lear, choking off the winds and rains, expressing that no one suffers like him and finding solace in this because, in his mind, his innocence is framed by the idea that there is always someone who has sinned worse. Are you listening, Hillary and Hunter?

I’m not sure the case law allows for less jail time just because someone else is more guilty, but that’s Trump’s playbook. As long as he believes he is the wronged one, that there have been worse crimes (worse than driving rioters to attack the nation’s capitol?), then he will continue his lamentable appeal to his followers – those supporters who like to call people like me “sheep”. I call them “the blind”.

There have always been people who seek help or advice and unfortunately find it in those who cannot be trusted. This is how a battery of scams takes off, especially here in Utah. This is why the Boy Scouts fall victim to the predatory master scouts.

Of course, Shakespeare had a quote for times like these, also from King Lear: “It is the scourge of the time when fools lead the blind. Do as I tell you, or rather do your pleasure. By- above the rest, go away.”

You see, nothing has changed.

Send your comments to [email protected]

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Salt lake city

Free School Supplies for SLC Kids

SALT LAKE CITY (ABC4) – Getting the kids ready for school can take a lot of time, whether you’re shopping for clothes and supplies or getting them ready for their favorite haircut. An upcoming event will provide school supplies and haircuts for children 17 and under.

The Back-to-School Supplies Drive will be held at the Utah Museum of Contemporary Arts (UMOCA) on August 19 from 12 p.m. to 6 p.m.

Haircuts will be provided by Esmerelda of Royalty Barbershop in West Valley City and Kiirt Banks of My Kulture.

There will also be free music, bouncy houses and children’s art activities.

Before the event, school supplies can be dropped off at the following locations:

  • UMOCA (20 S West Temple St in Salt Lake City)
  • Fade One Barbershop (3804 S Highland Drive in Salt Lake City)
  • Royalty Barbershop (3536 W 3100 S in West Valley City)
  • Costa Vida (213 E 12300 S in Draper)
  • Vape Ave (75900E in Salt Lake City)

School supplies can also be dropped off on the day of the event. UMOCA will hold supplies for a week after the event so people can continue to pick them up.

The rest of the supplies will be donated to schools and families in need.

The event is presented by Mac Life LLC and iVipp App.

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Salt lakes real estate

Utah investor pays $283 million for Anaheim apartments

A 768-unit apartment complex in Anaheim traded hands for a record $283.5 million, in the largest real estate sale of a single property reported in Orange County since the pandemic began.

Records indicate a Utah subsidiary based Bridge Investment Group Holdings Inc. (NYSE: BRDG) paid nearly $369,000 per unit for the Madison Park apartments, a 615,500 square foot rental complex at the intersection of Broadway and Brookhurst Street, near the Disneyland Park Region.

The price is more than double the amount paid during its previous sale in 2015.

The deal is a multi-family record for Orange County in more than a decade in terms of total price; the previous best sale was with the sale of $205.5 million of the 400 units Bryant at Yorba Linda complex at the start of the year.

Madison Park was about 97% occupied when it was sold last month, according to data from the real estate market tracker CoStar Group.

hot market

The low-rise, garden-style resort was built in 1970 on nearly 18 acres of land at 2235 W. Broadway, about a 10-minute drive from Disneyland.

It is the largest apartment complex in the city of Anaheim by number of units.

Units in the three-story buildings range in size from 390-square-foot studios to two-bedroom units covering approximately 1,000 square feet. Average asking rents range from $1,791 to $2,660. Facilities include a fitness center, swimming pool, theater, and other common areas.

The average rent for a two-bedroom apartment in the city jumped 21% in the past month to $2,665, according to Market Tracker Zumper.com.

Demand for the multi-family sector has increased during the pandemic, as tenants redesigned their living spaces during the shutdown and investors flocked to the lucrative type of property. This trend has been exacerbated in California, as the state continues to deal with a supply-demand imbalance that has helped send prices to record highs.

Recording offers

Last month, the selling price of Madison Park apartments marks a 132% premium to the reported $122 million that a venture between the San Diego-based company MG properties and Boston-based investment advisor Intercontinental Real Estate Company paid for the resort in 2015.

MG Properties’ sale of the Anaheim complex follows a notable acquisition in May, when it paid $130 million for the newly constructed building the heralda 215-unit apartment project in Placentia.

Based in Newport Beach Living in Lyon sold the property for $605,000 per unit, leading this year on unit price among multifamily projects in Orange County running at least 100 units.

Only two apartment complexes have sold more than $200 million in Orange County over the past decade, according to CoStar Group records, Madison Park and the Bryant at Yorba Linda complex.

The recent sale also tops all local real estate transactions during the pandemic, records show.

Local wallet

Based in Salt Lake City Bridge property managementthe apartment property management subsidiary of Bridge Investment Group, now has more than 1,800 apartments across four properties in its Orange County portfolio.

She took out a loan of nearly $204 million with Berkadia Commercial Mortgage Loan to fund the Anaheim Purchase, records show.

It’s the second local acquisition in the past year for the private investor, which paid $68.9 million for a 168-unit apartment complex in Fullerton in late 2021.

Fullerton Hillslocated on over 10 acres in the Sunny Hills neighborhood approximately 5 miles from California State University, Fullerton, was built in 1973 and sold for around $410,000 a unit. It was 98% occupied at the time of the sale.

Bridge Property also owns the 402 units Crystal clear view apartments in Garden Grove, which she acquired in 2019; and the 500 units Warwick Square complex in Santa Ana, the company’s first local asset, according to the records.

The company has properties in more than 20 states across the country.

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Salt lake city

Vice President Harris meets with Utah Rep. Romero on abortion rights

Vice President Kamala Harris meet State Rep. Angela Romero, D-Salt Lake City and other Latina state lawmakers on Friday to discuss the fight for abortion rights in their own states.

State of play: Harris has met with state lawmakers, health care providers and activists to discuss reproductive rights since the Supreme Court overturned Roe v. Wade in June. It was his first meeting with Latina state lawmakers, Reporting by Marina E. Franco of Axios Latino.

  • The other six Latin lawmakers represented Arizona, Illinois, Kansas, Nevada, New York and Texas.

What she says: “[Harris] really wanted to address abortion and access to abortion and its impact on the Latinx community,” Romero, president-elect of the National Hispanic Caucus of State Legislators, says Axios. “Even though we have a Republican-controlled legislature, that doesn’t mean we shouldn’t talk about issues that affect Utahns, like access to health care.”

  • Romero said she wants input from the federal government and other colleagues on what kinds of policies lawmakers can introduce in their own states to help women.

The context: Utah is one of 13 states with an abortion initiation law.

Why is this important: Hispanic women in Utah are ‘significantly less likely’ to access health care, says one analysis by the Utah Women & Leadership Project at Utah State University.

  • About 20% of Latinas in Utah say they don’t seek health care because of the cost.
  • Nationally, about a quarter of abortion patients are Hispanic women, according to data from the Guttmacher Institute.

Rollback: Utah’s abortion ban was suspended after the Planned Parenthood Association of Utah sued the state to stop it from going into effect.

The big picture: Democrats are using access to reproductive health care as a motivational issue for voters ahead of the midterm elections.

And after: Romero plans to sponsor a bill that would eliminate criminal penalties for health care providers who perform abortions.

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Utah economy

Salt Lake City launches program to increase solar power

SALT LAKE CITY (ABC4) — Salt Lake City launched Solar Salt Lake on Thursday — a program that offers Salt Lake City residents huge discounts on solar installations as more homes decide to go solar.

The bulk purchase program aims to streamline residents’ access to solar power, supporting the local solar economy.

The city has partnered with Gardner Energy, believed to be one of the nation’s oldest solar companies, which has served Intermountain West since 2004.

Gardner Energy has completed more than 1,000 residential and commercial solar installations, totaling more than 17 megawatts of solar energy.

Solar Salt Lake was launched to help meet the city’s climate goals and offers discounted bulk purchasing for up to 50 installations.

“Salt Lake City is committed to protecting the public health and safety of its residents, including ensuring access to clean air, clean water, and a livable environment,” according to SLC.gov.

The declaration is a resolve by the city to be climate positive, and is demonstrated by the city’s efforts to curb climate change.

Here are some things the city has done to be climate positive:

  • In 2020, Salt Lake City announced the successful approval of a major renewable energy project to meet the majority of the Municipality of SLC’s electricity needs.
  • In 2021, the Elektron solar project started in Tooele County and is expected to go live in 2023.
  • On the community side, Salt Lake City has worked with Rocky Mountain Power and other communities to pass HB411, the Community Renewable Energy Act, which will see Salt Lake City achieve the 100 X 2030: 100% energy goal. ‘renewable energy for community electricity supply by 2030’. ” objective.
  • Salt Lake City is also working with other Utah 100 Communities to move toward the net goal of 100% clean electricity.
  • Salt Lake City has also set the “80 X 2040: 80% reduction in community greenhouse gas emissions by 2040” goal, which includes a reduction of at least 50% in the community footprint. by 2030.

Click here to learn more about what the city is doing to reduce climate change.

Click here to complete the Solar Salt Lake registration form.

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Salt lake city government

Breeze launches San Bernardino International’s first scheduled passenger service

  • TECH-SHARK_EXTERIOR_004
    Embrace

    Stock code:
    erj

    Creation date :
    1969-08-19

    CEO:
    Francisco Gomes Neto

    Head office location:
    Sao Paulo, Brazil

    Key product lines:
    Embraer 170, Embraer 175, Embraer 190, Embraer 195, Embraer 175-E2, Embraer 190-E2, Embraer 195-E2

    Type of company:
    Planner

US carrier Breeze Airways has added two new routes to its network, with flights from Provo, Utah and San Bernadino, California to San Francisco. The airline will also offer a one-stop/no-change-plane “BreezeThru” service between Provo and San Bernadino via San Francisco.

Breeze Opens New Routes and First West Coast Base

The new routes began on August 4, when Breeze Airways (Breeze) became the first airline to operate commercial service from San Bernardino International Airport (SBD), located just two miles from the city of San Bernardino. That flight, Breeze MX602, took off from SBD at 2:39 p.m. and arrived at San Francisco International Airport (SFO) at 3:37 p.m. Earlier today, Breeze flight MX603 departed Provo Municipal Airport (PVU) at 9:05 a.m. for the 1:27 a.m. flight to San Francisco, landing at 9:32 a.m. Both flights were operated by the same aircraft, an Embraer E190, registration N126BZ.

SIMPLEFLYING VIDEO OF THE DAY

On August 4, Breeze Airways launched daily services between San Bernadino (SBD) and San Francisco (SFO). Data: Flightradar24.com

Breeze also announced its first base on the US West Coast in Provo, about 45 miles (72 kilometers) from the airline’s headquarters in Salt Lake City. Currently, Breeze has over 250 employees at its corporate headquarters and base in Provo, with plans to hire another 180 over the next twelve months. Breeze President Tom Doxey said the new flights and the Provo base are three important milestones for the airline, adding:

“We also have the rare honor today of being the first-ever commercial airline to serve San Bernardino, marking an important milestone for the airport and its community. We commend the government and airport officials who have helped towards this goal and we look forward to serving the people of these cities.”

Breeze continues to connect local communities with low-cost flights

Breeze uses a combination of Embraer and Airbus single-aisle aircraft to operate approximately 87 nonstop routes in the United States to 30 destinations. Photo: Embraer

The new routes connecting Provo and San Berardino to San Francisco and between them are examples of Breeze’s strategy to provide fast, efficient and affordable air service between underserved city pairs. Flights will operate daily, with fares starting at $39 one-way. It does so with a fleet of Airbus and Embraer single-aisle aircraft, which ch-aviation.com lists seven Airbus A220-300s, ten Embraer ERJ 190-100ARs, three ERJ 190-200ARs and one ERJ 190-200LR, although the ce last is listed as inactive. Breeze also has 73 Airbus A220-300s on order.


Unsurprisingly, local communities are thrilled to be connected to San Francisco and the global connections that come with it. Provo Mayor Michelle Kaufusi said, With Breeze Airways now operating daily nonstop flights to an international airport, our forward-looking vision has opened our community to the world. SFO Airport Manager Ivar C. Satero said Breeze’s new service to Provo and first-ever commercial flight to San Bernardino gives travelers what they want most, more travel options at competitive prices.

Breeze has partnered with Brigham Young University (BYU) in Provo to become its “official hometown airline”. The five-year agreement, which includes San Bernardino Airport, covers nearly all of the university’s men’s and women’s athletic programs, including transportation of BYU teams to away games and other events. Doxey, a former BYU baseball player, said Breeze is proud to support the athletics program while “solidifying brand affinity and awareness for Breeze by tapping into its powerful fanbase.”


In just over a year, Breeze has grown from its initial 16 destinations, primarily in the eastern and southeastern United States, to 30 cities in 18 states with 87 nonstop routes. This will increase with two more destinations from Provo, including nonstop service to Las Vegas starting Oct. 5 and to Los Angeles Nov. 2. How is Breeze handling the current disruptions and is it a good airline to fly with?

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Salt lake city

Poll shows Utahans hosting Winter Olympics in Salt Lake City again

Keep Olympic News Free

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For nearly 15 years now, insidethegames.biz has been at the forefront of fearless reporting on what’s happening in the Olympic Movement. As the first website not to be placed behind a paywall, we have made information about the International Olympic Committee, the Olympic and Paralympic Games, the Commonwealth Games and other major events more accessible than ever to everyone.

insidethegames.biz has earned a global reputation for excellent reporting and breadth of coverage. For many of our readers in over 200 countries and territories around the world, the website is an essential part of their daily lives. The ping of our free daily email alert, sent every morning at 6.30am UK time, 365 days a year, landing in their inbox, is as much a part of their day as their first cup of coffee.

Even during the worst times of the COVID-19 pandemic, insidethegames.biz has maintained its high level of daily reporting on all news around the world. We were the first publication in the world to report on the threat facing the Olympic Movement from the coronavirus and have since provided unprecedented coverage of the pandemic.

As the world begins to emerge from the COVID crisis, insidethegames.biz would like to invite you to help us on our journey by funding our independent journalism. Your vital support would enable us to continue to report so comprehensively on the Olympic Movement and the events that shape it. This would mean that we can keep our website open to everyone. Last year, nearly 25 million people read insidethegames.biz, making us by far the largest source of independent information on what’s happening in world sport.

Every contribution, big or small, will help maintain and improve our global coverage in the coming year. Our small, dedicated team has been extremely busy over the past year covering the revamped Olympic and Paralympic Games in Tokyo, an unprecedented logistical challenge that has stretched our limited resources to the limit.

The rest of 2022 will be no less busy or less challenging. We had the Olympic and Paralympic Winter Games in Beijing, where we sent a team of four journalists, and the Commonwealth Games in Birmingham, the World Summer University and the Asian Games in China, the World Games in Alabama and several world championships are coming up. Plus, of course, there’s the FIFA World Cup in Qatar.

Unlike many others, insidethegames.biz is available to everyone, regardless of what they can afford to pay. We do this because we believe that sport belongs to everyone and everyone should be able to read the news regardless of their financial situation. While others try to profit financially from the information, we are committed to sharing it with as many people as possible. The more people can keep abreast of world events and understand their impact, the more sport will be forced to be transparent.

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Salt lakes real estate

Advisor Group Holdings Inc. buys 9,309 shares of Extra Space Storage Inc. (NYSE:EXR)


Advisor Group Holdings Inc. increased its stake in Extra Space Storage Inc. (NYSE:EXR – Get Rating) by 36.0% in the first quarter, according to the company in its latest 13F filing with the Securities and Exchange Commission. The fund held 35,147 shares of the real estate investment trust after acquiring an additional 9,309 shares during the period. Advisor Group Holdings Inc.’s holdings in Extra Space Storage were worth $7,240,000 when it last filed with the SEC.

A number of other hedge funds and other institutional investors have also recently changed their stock holdings. BlackRock Inc. increased its stake in shares of Extra Space Storage by 0.8% in the 4th quarter. BlackRock Inc. now owns 15,153,217 shares of the real estate investment trust worth $3,435,689,000 after acquiring an additional 122,140 shares in the last quarter. State Street Corp increased its position in Extra Space Storage by 6.8% in the fourth quarter. State Street Corp now owns 8,506,244 shares of the real estate investment trust valued at $1,928,621,000 after buying an additional 541,283 shares in the last quarter. Principal Financial Group Inc. increased its position in Extra Space Storage by 2.6% during the 4th quarter. Principal Financial Group Inc. now owns 4,647,305 shares of the real estate investment trust worth $1,050,072,000 after purchasing an additional 119,144 shares in the last quarter. Geode Capital Management LLC increased its position in Extra Space Storage by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 3,004,095 shares of the real estate investment trust worth $679,643,000 after purchasing an additional 82,323 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in Extra Space Storage by 5.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,956,399 shares of the real estate investment trust worth $670,306,000 after purchasing an additional 147,659 shares in the last quarter. Institutional investors hold 95.44% of the company’s shares.

Additional space storage Inventory performance

Extra Space Storage stock opened at $197.22 on Friday. The company has a quick ratio of 0.53, a current ratio of 0.41 and a debt ratio of 1.64. The company has a market capitalization of $26.48 billion, a P/E ratio of 29.70, a PEG ratio of 2.82 and a beta of 0.50. The stock’s 50-day moving average is $173.96 and its 200-day moving average is $187.86. Extra Space Storage Inc. has a 12-month low of $156.70 and a 12-month high of $228.84.

Extra Space Storage (NYSE:EXR – Get Rating) last released its quarterly results on Tuesday, May 3. The real estate investment trust reported earnings per share of $1.51 for the quarter, missing the consensus estimate of $1.86 per ($0.35). The company posted revenue of $379.81 million in the quarter, compared to $368.88 million expected by analysts. Extra Space Storage had a return on equity of 24.31% and a net margin of 51.63%. The company’s quarterly revenue increased 25.1% year over year. In the same quarter of the previous year, the company achieved EPS of $1.50. On average, stock research analysts expect Extra Space Storage Inc. to post earnings per share of 8.4 for the current fiscal year.

Additional Space Storage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 30. Shareholders of record on Wednesday, June 15 received a dividend of $1.50 per share. The ex-dividend date was Tuesday, June 14. This represents an annualized dividend of $6.00 and a yield of 3.04%. Extra Space Storage’s dividend payout ratio is 90.36%.

Wall Street analysts predict growth

EXR has been the subject of a number of recent analyst reports. StockNews.com upgraded Extra Space Storage from a “hold” rating to a “buy” rating in a research report on Wednesday. JPMorgan Chase & Co. upgraded Extra Space Storage from a “neutral” rating to an “overweight” rating and lowered its price target for the company from $224.00 to $193.00 in a Wednesday research report June 22. KeyCorp reduced its target price on Extra Space Storage from $224.00 to $200.00 and set an “overweight” rating for the company in a Thursday, June 16 research report. Jefferies Financial Group reduced its target price on Extra Space Storage from $228.00 to $184.00 and set a “holding” rating for the company in a Thursday, June 30 research report. Finally, Truist Financial reduced its target price on Extra Space Storage from $225.00 to $200.00 and set a “buy” rating for the company in a Wednesday, June 1 research report. One investment analyst has assigned the stock a sell rating, three have issued a hold rating and eight have assigned the company a buy rating. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $199.30.

Additional space storage profile

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Extra Space Storage Inc, headquartered in Salt Lake City, Utah, is a self-administered and self-managed REIT and member of the S&P 500. As of September 30, 2020, the Company owned and/or operated 1,906 storage stores self service. in 40 states, Washington, DC and Puerto Rico. The Company’s stores comprise approximately 1.4 million units and approximately 147.5 million square feet of leasable space.

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Institutional Ownership by Quarter for Additional Space Storage (NYSE: EXR)



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Salt lake city government

Patrick Bruce Abernathy – St George News

November 28, 1945 – July 31, 2022

Patrick Bruce Abernathy, 76, beloved husband, father, brother, uncle, and friend, graduated on July 31, 2022, from his home in Pelican Hills, Green Valley, St. George, Utah, following terminal complications from an anoxic brain injury following respiratory failure in 2020.

Patrick was born November 28, 1945, in Monterey Park, Los Angeles County, California to Walter Wilson “Budge” Abernathy and Betty Geneva Moone, and grew up in the San Gabriel Valley. At age 16, he converted to The Church of Jesus Christ of Latter-day Saints, and at age 19 served a full-time volunteer mission for the Church in the Far East Mission of South to the islands of Taiwan and Hong Kong, where he developed a love for the Chinese language, history, culture and people.

After his faithful missionary service, which included responsibilities as assistant to Keith Garner, his mission president, he attended Columbia University in New York and Brigham Young University, campuses in Utah and Hawaii. , where he completed his undergraduate studies in Chinese Language and Literature with a minor in Economics.

He married Joyce Marie Jensen for eternity in the Los Angeles California Temple on November 26, 1969, after which they resided in Taiwan, where he earned a master’s degree in modern Chinese history from National Taiwan University and began to work in the financial industry in California. Subsequently, he was recruited to work for the US government in Washington, D.C. Frequent travel and relocation marked his early career and family life as they welcomed four children into their family. From 1977 to 1992, Hong Kong became their permanent home and the place of many treasured family memories as he transitioned from government work to China expert for several multinational corporations.

Returning to the United States in 1992 to care for his then aging parents, Patrick settled his family in Bloomington, St. George, Utah, where he dutifully and lovingly spent time with and cared for his parents. until their death. He also developed new loves for barbershop music, family history research, and service at the St. George Utah Temple. He enjoyed a great spirit of brotherhood with the Color Country Chorus and various quartets, and he generously gave his time and talents to sing at many community and charitable events. Family history research and temple service were among his highest priorities, and he approached his nearly 10 years of temple service with much study and prayerful preparation to serve honorably in the House of the Lord.

In 2018, Patrick and JJ embarked on a new adventure together as missionaries called to the Utah Headquarters Mission in Salt Lake City, where they served at the famed Family History Library until 2021. He has found great joy in serving the patrons of the Family History Library, and he cherished the fellowship with those with whom he served. He helped many people discover their roots and he also became known as the “Candy Man of Temple Square” for generously sharing his endless supply of salt water taffy.

Patrick possessed a keen intellect and the discipline to master whatever he decided to learn or accomplish. He was widely considered a friend, mentor and role model to many. Among his countless activities and talents, Patrick was known for his diligence, expertise, thoroughness, perfectionism, good humor and good nature. Above all, he valued his family and their deep and lasting testimony of – and sincere devotion – to Jesus the Christ.

Patrick is survived by his wife of 52 years, Joyce Marie Jensen “JJ” Abernathy, of Green Valley; son and daughter-in-law, Matthew and Janella Abernathy of Spanish Fork; son and daughter-in-law, Mark and Monica Abernathy of Austin, Texas; daughter and son-in-law, Holly and Joseph Infanta of Layton, Utah; sister, Karen Berry, of Camarillo, Calif.; half-brother, Donald Walter Abernathy, of Wooster, Ohio; and nieces, nephews and grandchildren: Céline, Chanel, Yale, India, Justin, Joshua, Emmanuelle, Christine, Joseph Israel and Elijah. He was predeceased by his parents, Walter and Betty Abernathy, and his son, Yale Andrus Abernathy.

The family offers their sincere thanks to the following people for the professional, gentle and caring way in which Patrick looked after his last months: nurse Deb and the entire team at Zion’s Way Home Health & Hospice; LuAnn Lundquist and her team at Memory Matters; Dr. Bobby Niemann, neurologist at Vista Healthcare Specialists; and St. George’s Regional Hospital.

In Patrick’s memory, the family invites donations to FamilySearch, a nonprofit family history organization dedicated to connecting families across generations through the preservation and digitization of records and documents. Click here to make contributions online or call 1-800-525-8074.

Funeral services will be held Saturday, August 13 at 1 p.m. at Green Valley Stake Center, 511 South Valley View Drive, St. George, Utah. Visitation will be Friday, August 12, from 6 to 8 p.m. at the Metcalf Mortuary, 288 West St. George Blvd., and Saturday, before services, from 11 a.m. to 12:30 p.m. at the stake center. Interment will be in St. George City Cemetery located at 600 East Tabernacle St.

The services will be broadcast live. Visit the Metcalf Mortuary website where the link will be posted at the bottom of Patrick’s obituary.

Arrangements are in the custody of Metcalf Mortuary, (435) 673-4221. Visit the Metcalf Mortuary website for condolences, full obituaries and funeral announcements.

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Utah economy

Utah consumer sentiment continues to fall in July

Newswise — August 4, 2022 (Salt Lake City) — Utah consumer sentiment fell in July, according to the Kem C. Gardner Policy Institute’s survey of Utah consumers. Utah’s index fell to 62.9 in July from 64.4 in June. A similar survey for the United States showed consumer sentiment rising slightly to 51.5 in July from 50.0 in June. This is the first month since the Gardner Institute began tracking consumer sentiment in October 2020 where Utah’s index fell while national sentiment rose.

“Consumer expectations about the economy can impact day-to-day shopping behavior and therefore business cycles,” said Phil Dean, chief economist at the Gardner Institute. “Concerns about high inflation, including fuel prices, continue to affect consumer sentiment in Utah. High fuel prices are a particularly salient price point for consumers, although prices have fallen these Emerging signals suggest that low-income households are facing financial strains that are beginning to alter their purchasing behavior.

The Utah Consumer Sentiment Survey uses questions comparable to the University of Michigan Consumer Survey. These questions measure residents’ views on current and future economic conditions. Both surveys include a random sample of consumers, including demographic questions to assess the representativeness of the sample.

Full results are now available online.

Source: Kem C. Gardner Policy Institute and University of Michigan

###

ABOUT THE GARDNER POLICY INSTITUTE

The Kem C. Gardner Policy Institute serves Utah by preparing research on the economic, population, and public policies that help the state prosper. We are experts in Utah demographics, leaders in the Utah economy, and experts in public policy and survey research. We are an honest broker of INFORMED RESEARCH, which guides INFORMED DISCUSSIONS and leads to INFORMED DECISIONS™. For more information, please visit gardner.utah.edu or call 801-587-3717.

ABOUT THE DAVID ECCLES SCHOOL OF BUSINESS

The Eccles school is synonymous with “doing”. The Eccles Experience provides world-class business education with a unique entrepreneurial focus on real-world scenarios where students practice what they learn long before graduation. Founded in 1917 and educating more than 6,000 students annually, the David Eccles School of Business at the University of Utah offers nine undergraduate majors, four MBAs, eight other graduate programs, one Ph.D. in seven management training areas and programs. The school is also home to 12 institutes, centers and initiatives, which conduct academic research and support an ecosystem of entrepreneurship and innovation. For more information, visit Eccles.Utah.edu or call 801-581-7676.

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Salt lakes real estate

A real estate agent’s 8 tips for first-time buyers navigating a hot market

Photography by DP Productions/Getty Images

Cassidy Iwersen always dreamed of becoming a real estate agent. “I just felt like maybe New York wasn’t the place to start that kind of career,” she says. So when the longtime creative director and interior stylist moved to the Dallas-Fort Worth area in 2021 (one of the top destinations for people moving during the pandemic), she decided to take the plunge. , obtain its license and join Compass as a seller. agent. “I was gaga about what you could get for $500,000,” she recalled. Having lived in New York and San Francisco before that, he was a good kind of shock sticker.

While Iwersen works extensively with sellers, listing and staging their spaces, she has a soft spot for first-time buyers trying to navigate a booming market. “I feel like their big sister,” she says. “I want to help them, because it’s scary and overwhelming and there’s a lot [to do] in a short time. Her experience working in a highly visual and creative industry for so long comes in handy when it comes to helping nervous buyers see the potential. “Combining that with my knowledge of real estate, we’re able to make decisions that will save them money or make them money,” says Iwersen. Whether you’re cruising through booming Denver or planning to put down roots in bustling Salt Lake City, we asked Iwersen for his advice on getting through it all stress-free.

Consider living with—wait for it—a bathroom

Green bathtub in a brightly lit bathroom.

Photograph by Brittany Ambridge

We know what you’re thinking: a deal breaker. But let Iwersen help you see the potential. “A lot of older homes still only have one bathroom, which can deter a lot of buyers,” she notes. “But if you can live with that for a minute while you add a second, you’ve instantly increased the value and marketability the next time around.” Still, the thing to ask yourself before committing to a total renovation is: will the other homes in my neighborhood retain (or increase) in value over time? “It doesn’t matter how much you invest in a house if the neighboring houses aren’t as nice or worth as much,” Iwersen points out.

Speed ​​up your timeline from the start

Start looking at the market and getting to know the different neighborhoods so you can see what’s available in your price range and how long things come and go, that way you’ll be able to spot a bargain when you see it. “It will help you act quickly when you’re ready to make an offer,” says Iwersen. In very hot markets, there isn’t much time to research or ask about neighborhood, school district, or commute times after seeing an ad.

Be friendly with a trusted lender

In many of these booming markets where homes sell in about 20 days, it is often necessary for you to send a pre-qualification letter (a document that signifies that a lender has reviewed your financial information and confirms that you will be eligible for a loan) with your offer. “Now is not the time to start thinking about your mortgage. Vendors want to see that you’re ready to go and that everything is lined up and in order,” says Iwersen. Meeting with a local lender early on will help you determine your buying power, resolve any credit issues you may not be aware of, calculate your monthly mortgage payments, and get an idea of ​​how the process works. .

Look at ads that have been around for at least a week

Excellent listings ready to move into quick, so you’ll need to be imaginative and open to houses that might need painting or new lighting. “If you can look past the dated wallpaper or decor, you can potentially avoid a multiple-offer situation and even have some bargaining power,” Iwersen says. “I’m finally hearing about sellers giving buyers concessions or credits to help them lower their mortgage rate on properties that have been on the market for a while.”

Look for timeless architectural details

The details that make a house worth buying come down to the quality of the materials: hardwood floors, walls with trim or moldings, brick or plaster walls. “Like well-cut jeans or a leather jacket, these elements stand the test of time while gaining character and charm,” explains the pro.

Win an auction by making life easier for the seller

Your purchase price isn’t the only thing that can stand out in a bidding war. Forgoing contingencies and valuation, having the shortest possible option period, and offering to pay the seller’s title insurance (or investigation or closing costs) will put you in head of the group. “Sometimes it’s not just ‘the highest and the best,'” Iwersen says. “Maybe the seller needs a lease (time spent in the house after closing while he searches for his next home or extra time to pack or finish the school term), and if you can give him that extend, it could really be beneficial. ”

Offer money through a third party

There are a number of newer programs that have expanded this year in response to the increase in cash-only offers. Companies like Ribbon and UpEquity can work with (or act as one) your mortgage lender and present your cash offer. “They’re actually buying the house for you, and then you have some time to get financing and buy it back from them,” she says, noting that they’ll charge you a percentage of the purchase price to do so, but it might just be worth it.

Renovate intentionally

Part of the sense of belonging puts your stamp on your space. Luckily, if you’ve spent most of your savings on a down payment, less really is more. “By adding a few intentional updates, it distracts from a countertop or backsplash that might not have been your first choice,” she says. Here are some simple changes that Iwersen often recommends:

In the kitchen

  • Paint or stain existing cabinets
  • Change ceiling fans or light fixtures
  • Add a fresh sink and faucet
  • Put down carpets
  • Buy new appliances
  • Swap cabinet hardware
  • Hang the window treatments

In the bathroom

  • Change the vanity (some start at just a few hundred dollars!)
  • Hang a mirror above the sink
  • Wallpaper over dated tiling
  • Opt for white or matte black plumbing fixtures

And when in doubt, paint the walls white. “And the ceiling! says Iwersen.

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Salt lake city

Utah’s metropolitan areas are among the most employed in the nation

Illustration: Sarah Grillo/Axios

Unemployment rose in Utah’s metropolitan areas, but unemployment rates were still well below nearly every other state.

Driving the news: Federal unemployment figures released Wednesday show that all five Utah metropolitan areas — urban areas with at least 50,000 residents — had unemployment rates of 2.6% or lower in June.

  • Only four other states had lower rates for all of their metropolitan areas: New Hampshire, Vermont, and North and South Dakota.

By the numbers: Logan’s unemployment rate — 2.2% — was the lowest in the state and tied for 11th among the nation’s 396 cities.

  • Provo-Orem tied at No. 17, at 2.3%.
  • Salt Lake City and Ogden-Clearfield tied for 22nd at 2.4%
  • At 2.6%, St. George had the 35th lowest unemployment rate.

Rollback: Utah’s unemployment rate is consistently low, so its cities’ unemployment numbers had less room to fall than in other states.

  • Metro Utah’s unemployment rates have fallen by less than 1%, while most workers nationwide live in cities where unemployment has fallen by at least 2%.
  • Only Grand Island, Nebraska, and Yuma, Arizona, have seen smaller declines than Logan’s decline of just 0.2% since June 2021.

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Utah economy

Washington County Implements Utah’s Most Restrictive Water Ordinances

WASHINGTON COUNTY, Utah – Washington County’s largest cities have implemented new water ordinances to help protect water resources in what a news release called the nation’s fastest growing region.

The new measures include a ban on non-functional turf for newly constructed commercial, institutional and industrial developments, and a turf limit in new homes.

New golf courses in St. George will also not be approved unless the development can provide its own source of non-potable water for irrigation, according to a Wednesday morning news release from the Washington County Water Conservancy District. .

The ordinances would be the most restrictive for new construction in Beehive State.

“We can’t risk running out of water,” said Zach Renstrom, chief executive of the Washington County Water Conservancy District. “The prolonged drought has threatened our only source of water – we need to make changes to how our community uses its water to protect our economy and our quality of life.”

Utah Governor Spencer J. Cox said, We salute Washington County’s current water conservation achievements and efforts, including setting a higher standard for development in the state with these new municipal ordinances.

“Our future depends on every community in Utah, making water conservation a top priority,” Cox said.

The ordinances also require the use of secondary (untreated) water and reuse (treated wastewater) for outdoor irrigation, if applicable, depending on the version. Currently, the county uses it to irrigate parks, schools, golf courses, city-owned facilities, and some residential neighborhoods.

“The district is developing a regional reuse system in partnership with its municipal customers that will significantly improve the availability of reused water for future development,” the statement said.

Other requirements of the order include:

  • Hot water recirculation systems
  • Luminaires labeled Water-Sense
  • Energy Star Appliances
  • Sub-metering of multi-unit installations
  • Restrictions on water features, including misting systems
  • Water budgets for golf courses
  • Limits on water used by car wash facilities

The new ordinances are expected to save nearly 11 billion gallons of water over the next 10 years, according to the release.

Officials said each municipality will enforce its new order, adding that cities will review complaints received about water waste and monitor metering data to notify and impose penalties on non-compliant customers.

“To help encourage compliance, the district will begin assessing an additional high water usage fee in 2023. The money generated from this fee will fund water conservation programs, including rebates to replace the ‘grass through water-efficient landscaping,’ the statement read.

The county’s long-term water supply plan, according to the release, includes additional water conservation and reuse, optimization of local sources and development of new resources.

“Washington County has already reduced its per capita water use by more than 30% since 2000 – the largest reduction in water use in Utah – and plans an additional 14% reduction by 2030. , using 2015 as the base year.”

REMARK: The Washington County Water Conservancy District is a public, nonprofit organization that oversees water resources in Washington County, UT. Visit wcwcd.org for more information.

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Salt lakes real estate

Additional space storage: Q2 results overview


SALT LAKE CITY (AP) _ Extra Space Storage Inc. (EXR) reported a key measure of its second-quarter profitability on Tuesday. The results exceeded Wall Street expectations.

The Salt Lake City-based real estate investment trust said it had operating funds of $305.1 million, or $2.13 per share, during the period.

The average estimate of eight analysts polled by Zacks Investment Research was for funds from operations of $2.04 per share.

Funds from operations is a closely watched metric in the REIT industry. It takes net income and adds items such as depreciation and amortization.


The company said it had net income of $232.1 million, or $1.73 per share.

The self-storage real estate investment trust posted revenue of $475 million in the period, also beating Street’s forecast. Three analysts polled by Zacks expected $463.5 million.

Extra Space Storage expects operating funds for the full year in the range of $8.30 to $8.50 per share.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on EXR at https://www.zacks.com/ap/EXR

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Salt lake city

SL school board member and former state senator allege superintendent racially harassed

Estimated reading time: 2-3 minutes

SALT LAKE CITY — A Salt Lake City school board member and former state senator are calling on residents to come to Tuesday’s board meeting in support of Superintendent Timothy Gadson, alleging he was victimized racial harassment and an effort to force him to resign.

The district did not give a reason why Gadson — who has only been in the role for a year — was placed on paid administrative leave last month. The chairman and vice chairman of the board released a statement at the time citing confidentiality.

“While we have heard our community’s desire for more information, the Board is limited in its ability to confirm or deny the accuracy of any information reported due to our commitment to maintaining confidentiality. of our executive closed sessions,” the statement read.

Ahead of Tuesday night’s meeting, council member Mohamed Baayd claimed Gadson was racially harassed.

“The systemic racism and the institutional racism that we have within our district, unfortunately, was not ready to receive a black leader who could actually lead a district in a different direction,” Baayd said in an interview with KSL- TV and KSL News Radio.

Baayd, the only board member to come to Gadson’s defence, said the board had received complaints against the superintendent and that he viewed those complaints as racially motivated.

“As a black person, when I hear them, it’s like someone looks at me and says, ‘We can’t accept you for who you are. Your culture, your behavior is not what we are looking for here in our neighborhood, “says Bayd.

Baayd and former state senator James Evans are both asking people to come to the town hall at 6:30 p.m. Tuesday to show their support for Gadson.

“You have an unprofessional board that sides with its friends in administration and undermines the superintendent,” Evans said. “And then the backdrop to that is the racial discrimination component.”

Ahead of Tuesday’s public meeting, the board will hold a closed executive session beginning at 5 p.m.

“Unfortunately, when (Gadson) arrived, the board failed to support him and accomplish the agenda of caring for our students and our families,” Baayd said.

A letter to Evans residents co-signed by local NAACP president Jeanetta Williams alleges that Gadson faced a pressure campaign to have him resign.

“We affirm that the heart of this campaign to expel Dr. Gadson is driven by disgruntled board members who failed to act on the instructions they gave him directly,” the letter reads. “This led to an environment of intimidation, racial harassment, unsubstantiated complaints and secret meetings behind closed doors to expel him without due process and without cause.”

Asked about the letter and the racial harassment allegations, a school district spokesperson declined to comment and referred KSL to the statement released last month.

Below is the full statement from SLC School Board President Melissa Ford and Vice President Nate Salazar, dated July 14:

“We heard this week from esteemed stakeholders regarding their desire for transparency in light of media reports about our superintendent. We appreciate hearing from our community and want to reassure our constituents that this important and sensitive issue is being addressed by the Advice in a manner consistent with state law.To protect everyone’s interests, including those of our employees, we do not comment on personnel matters.

“As a council, we will continue to abide by all laws, including the Open and Public Meetings Act, which governs discussions held in closed executive session. It is unfortunate that a council member knowingly chooses to speak topics that may have been discussed in While we have heard our community’s desire for more information, the Board is limited in its ability to confirm or refute the accuracy of any reported information due to our commitment to maintain the confidentiality of our executive in camera sessions.

“We remain committed to providing our students with the best educational opportunities and are grateful for the continued hard work and dedication of our employees as they prepare for the upcoming school year.”

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Utah economy

Utah real estate market stabilizes – Lehi Free Press

Sales are down, inventory is up, and price increases come to a halt. So why are so many Utahns still priced high on the real estate market? The median home price in Utah fell for the first time in nearly two years. In June, it fell to $530,000, down slightly from $535,050 in May.

Meanwhile, sales slow down considerably. From April to June, sales of single-family homes in Wasatch Front counties fell 10%, to 7,140 units sold, from 7,921 units sold a year earlier. Single-family home sales in Salt Lake County were down 15% from the second quarter of 2021 to 2,800 units sold from April to June of this year.

But don’t get too excited or jump to worrying conclusions, like the idea that Utah’s housing bubble will burst and prices will plummet.

The slowdown indicates that, as the Salt Lake Chamber put it, Utah property values ​​are beginning to “stabilize.” According to Dejan Eskic, a senior fellow at the University of Utah’s Kem C. Gardner Institute and one of Utah’s top housing experts, the news is welcome in a housing market that is punishing buyers. Of house. He is also the Salt Lake Board of Realtors’ top economist.

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“After two years of a frenzied market with numerous offers in the tens of thousands of dollars over asking price,” Eskic said, “Utah’s real estate market is returning to normality.”

While homebuyers have struggled over the past two years to negotiate a tough market, often with just days to make a winning bid before a property is purchased, the market is gradually calming down.

“Instead of a few days, it will probably take a few weeks,” Eskic said.

It’s something that Eskic feels personally. He recalls the sense of urgency he felt when he bought his house during the frenzy, joking that he “probably spent more time deciding which running shoes to buy” than determining if he were to make an offer on his property.

So what does this mean for the Utah real estate market, and where do we go from here?

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Yes, real estate prices are starting to stabilize. However, they are stabilizing at record highs, and for various reasons that Eskic will explain below, they are expected to remain high.

Housing prices in Utah are stabilizing, but at a higher level.

This is bad news for Utahans and the state’s housing affordability problem. Yes, higher mortgage rates of 5% to 6% these days have dampened demand slightly, but they’ve also cost 70% to 75% of Utahns, according to Eskic’s estimates. The typical monthly mortgage payment has fallen from $1,400 earlier this year, when interest rates were lower, to $2,600 today.

Again, context is crucial. The median home price in Utah has fallen slightly, but is still above $500,000. In January 2019, it was just under $300,000, according to UtahRealEstate.com.

“So our prices are still out of this world,” Eskic said. However, he pointed out that the state’s year-over-year price increases had increased by more than 20% by the mid-teens.

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Higher mortgage rates would no doubt cool what has been a runway market for years, but with Utah’s economy robust, jobs abound and the state’s housing shortage remains a chronic problem, demand will remain strong due to state expansion.

Why is Utah isolated from the rest of the country?

According to the Salt Lake Chamber’s Economic Scorecard, Utah has the third-lowest unemployment rate in the United States, tied with New Hampshire and after Minnesota and Nebraska. Utah’s consumer confidence, on the other hand, fell in June to its lowest level since data collection began in October 2020, matching national levels of consumer confidence in its 70-year history. .

That means Utah is “slowing growth as inflation and rising interest rates weigh on consumers,” according to Derek Miller, president and CEO of the Salt Lake Chamber.

Despite these issues, according to Miller, Utah’s economy is robust and “Utah remains a net positive for industrial growth across all sectors.”

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Even though the “dirty word ‘R’ – a recession” is rife as the United States grapples with inflation and other issues, Utah has generally fared better than the rest of the country due to of its strong economic situation.

“We’re not immune…but we’re also in a little bubble,” Eskic said. “Our market has grown organically for a long time, and so regardless of what’s going on in the economy, (people) come here because they feel safe in Utah. They see less uncertainty in Utah because… we are stable.

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Salt lake city government

The North Carolina Court of Appeals will say more about how the judges ruled | app

RALEIGH, N.C. (AP) — North Carolina’s mid-level appeals court will now release more details about how its three-judge panels resolved certain issues before them.

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