Hotel companies in the United States are imploring Washington for relief amid the escalating cancellations because of the coronavirus pandemic. Industry leaders face seemingly impossible decisions as revenues have all but disappeared while significant fixed expenses remain. … READ MORE >
Real estate
Housing was set to soar. Then the coronavirus hit.
Housing starts fell 1.5% in February, to a seasonally adjusted annual rate of 1,599,000, which is less than anticipated as forecasters projected a 4.3% decline. … READ MORE >
As coronavirus spreads, pain goes beyond the hospitality and travel industries
As the human and economic toll of the coronavirus mounts, the real estate industry in North America is wondering where it can safely place its bets. The hospitality industry has taken the brunt of the hit so far, but other sectors of the economy have been nervously watching as the events unfold. … READ MORE >
How ESG is affecting the real estate and construction industries
As public pressure builds for industries to adhere to environmental, social and governance standards, real estate and construction are no exception. … READ MORE >
Betting that size matters: Macy’s closures on trend in retail
Retail closures are not always related to underperforming stores or the downsizing of operations. In many cases, a retailer closes a location because the real estate no longer suits the intended use of physical space now and in the future. … READ MORE >
Hospitality industry braces for the worst as coronavirus spreads
As the human and economic toll of the coronavirus continues to mount, the hospitality industry is bracing for the worst. On Jan. 30, the World Health Organization cautioned against non-essential travel to China after declaring the outbreak a public health emergency. Major airlines quickly responded, as British Airways, United, Delta … … READ MORE >
Americans face housing affordability crisis as paltry inventory sends costs higher
The decline in housing numbers reported for December on Wednesday is tied to the dwindling available supply of housing for purchase. While low unemployment and modest wage growth are driving strong demand, housing inventory is lacking. … READ MORE >
Housing to start 2020 with a bang
November housing starts rose by 3.2% to a seasonally adjusted rate of 1.365 million in November, exceeding expectations. The news kept on rolling with housing permits, a leading indicator of future starts, rising to 1.482 million – the highest in 12½ years. … READ MORE >
How senior housing developers can respond to sagging demand
Developers eager to fill the demand for senior housing created by an aging U.S. population are facing a new and unexpected challenge in the form of rapidly advancing technologies that allow seniors to stay in their homes longer. … READ MORE >
As recession looms, U.S. homebuilders show strength
Even as slowing global growth and rising trade tensions have increased the odds that the American economy will enter a recession, one sector – homebuilding – has emerged as a bright spot. … READ MORE >