Inman News Roundup: The Top 5 in Real Estate and Business

Highlights of the Week:

• CEO Shuffling:

  Redfin decided to reshuffle the top deck and brought on a new CEO. Seems like they’re hoping fresh blood can inject a little oomph into their daily grind.

• Fed Committing to Keeping Interest Rates Low:

  The Federal Reserve aims to keep interest rates rock-bottom low through 2023. Looks like they’re out to win the marathon of economic recovery, not the sprint.

• Hawaii’s Housing Market on Fire:

  Hawaii’s real estate market is hotter than a beach bonfire. Home sales increased by 12.7% in August compared to the same month in 2020. Aloha to more profits!

• Boom in Housing Construction:

  Housing construction is booming like a 90’s boy band reunion. New private residential construction spending hit lethal levels, reaching $1.568 trillion in July.

• Commercial Real Estate’s Dark Horse – Self-Storage:

  Self-storage has sneakily come up as the dark horse of commercial real estate. Apparently, hoarding our stuff in little rented boxes is now hotter than ever.

The Weekly Hot Take

If this week has been a rollercoaster in the world of real estate, it seems like we all have platinum fast passes. The Fed pledged to stick to their low-interest-rate guns, which in layman’s terms means that your wallet will be on a ‘lean cuisine’ diet for a bit longer. At the same time, Hawaii’s real estate market is giving the new Baywatch cast a run for their money. Hold onto your bikinis folks; it looks like this wave is just getting started.

Meanwhile, self-storage spaces, the wallflowers of the commercial real estate dance floor, are shimmying into the spotlight. Why invest in an office building when you can own a giant locker? ‘Cash in on Clutter’ might just become the next big real estate manifesto!

Lastly, on a not-so-comedic note, the housing construction boom signals a positive trend for everyone. It’s like we all ordered a large economy recovery pizza, and someone decided to add extra toppings for free! If this kind of real estate party keeps up, we might have to redefine ‘house warming’.

Until next week, keep stacking those properties like they’re LEGO bricks, folks!