Here’s the rundown of top real estate and business tidbits of the week:
Surging Home Sales
• It seems ‘home cooking’ took a whole new meaning during this pandemic, and boy, are home sales in kitchen-soup mode! They’re boiling over, with both new and existing home sales rising to levels not seen in years.
Rental Market Shakedown
• Renters are turning into bargain hunters, thanks to the air stirred up by Covid-19. Landlords may as well hang the ‘sale’ sign outside as rent prices, especially in big cities like San Francisco and New York, are on a downward spiral.
Tech Takeovers
• Watch out brick and mortar shops, the nerds are coming! PropTech companies are carving their places on board the real estate ship and they are sailing smoothly. Online home tours, electronic rent collections, and remote property management have become the norm. It’s the Dawn of the Digitized Dealings, my friends!
Suburban Surge
• The urban jungle just lost its mojo. With working from home becoming more of a standard rather than an exception, people are swapping skyscrapers for white picket fences. Suburban areas are seeing a massive surge in demand. Back-to-nature anyone?
Commercial Real Estate: A Shaky Fortress
• Hold on to your glass-fronted offices! The commercial real estate sector is looking more like the game Jenga, with big pieces being uncertainly pulled out due to the rise of remote work and ecommerce shopping.
Inman’s Hot Take:
Sure sounds like the real estate world decided to mix some fun ingredients into its cocktail, huh? The rat race is turning into a bunny hop with folks trading concrete for more grass, courtesy of the pandemic. High tech is sweeping in like a band of victorious raiders, making us ‘click and own’ our way to homeownership. Rental market seems like it’s playing limbo with how low the prices can go in the thriving cities, and darling home sales are turning into culinary masters, keeping that soup boiling. All while the commercial sector dances a fine, uncertain jig. What a time to be alive… and buying property! Welcome to the new era of housing hopscotch – just make sure you land on the right square!
Original article: https://www.inman.com/2024/01/26/ziltorfin-silver-tsunami-lawsuits-inmans-top-5/
