What was supposed to be the summer of “revenge” travel may end up disappointing expectations. … READ MORE >
Real estate
Real estate to remain strong in face of interest rate bump
The Federal Reserve on Wednesday boosted interest rates by a quarter percentage point, leaving many landlords and real estate fund managers to wonder how the increase will affect their operations and bottom line. Fortunately, no one needs to ring the alarm. With the cost of capital remaining low, continued interest in real estate from both domestic and foreign investors, and robust demand for sectors such as housing and industrial, real estate should continue to see positive trends despite the near-term interest rate hike. … READ MORE >
U.S. new home sales declined in January
New home sales dropped 4.5% in January as high prices and increasing mortgage rates slowed demand. The omicron variant and colder-than-usual weather in January were also factors in the decline. … READ MORE >
Chart of the day: Buyers rush into housing market before rate hikes
Investors with all-cash offers flocked into the housing market before rate hikes, helping to push sales of existing homes to 6.5 million in January at an annualized rate. … READ MORE >
Chart of the day: U.S. housing permits reach 15-year high
Housing starts declined by 4.1% in January on an annualized rate. But housing starts remained well above the long-term equilibrium for housing supply of around 1.5 million a year. … READ MORE >
How construction firms can manage a fractured supply chain
Contractors are telling us that their biggest challenge is getting materials to job sites for installation. Items like structural steel joints, windows and door frames that used to take a couple of days to deliver are now taking months to arrive. … READ MORE >
Property conversions could answer the call for more multifamily housing
The housing shortage is leading developers to consider alternatives to building new homes from the ground up. Property conversions, which require less time, materials and labor, present viable solutions to the shortage, particularly in the multifamily housing sector. … READ MORE >
The hot housing streak endures: Spring 2022 outlook
Amid the ongoing pandemic, the real estate industry has shown significant opportunity and resilience. Check out RSM’s Real estate and construction industry outlook: Spring 2022 for trend … READ MORE >
The future of office requires sun, flexibility and creativity: Spring 2022 outlook
Class A offices in the Sun Belt are gaining in popularity, reflected by higher prices. Flexible offices are emerging amid an uptick in remote and hybrid work. Conversions to industrial and residential space will continue to absorb excess office capacity. Read about other sectors The arrival of the omicron variant … … READ MORE >
From distress to recovery, hospitality avoids worst-case scenarios: Spring 2022 outlook
As the pandemic appears to be moving into the endemic phase, corporate leaders are asking tough questions about business travel: When is it safe to get teams back on the road? Which planned in-person events can become virtual going forward? Does the growing focus on environmental, social and governance issues mean responsible corporations should reduce their travel footprints? Meanwhile, leisure customers weary of intermittent lockdowns and other pandemic restrictions have resumed vacation travel, helping to keep hotel occupancy at healthy levels. … READ MORE >