Sometimes, I just want to throw real estate news away like a bad motor scooter.
Regardless, I digest real estate news at an enriched level, far beyond normal human consumption, and this is the weekly update for the week of July 8. Check out Due Diligence, a Real Estate podcast because we will be talking about some of these items this week!
“On an actual basis, the Case-Shiller Index continues to make new highs since bottoming in 2012. From a yearly percentage change standpoint, however, the index has shown considerable weakness since last year. As can be seen below, the yearly percentage change in the Case-Shiller Index is now 3.5 percent, which is down significantly from the 6.8 percent year-over-year increase seen in March 2018 around the time of the latest market peak.”
“It’s my contention that the lack of inventory is one reason for assuming that the long-term recovery in residential real estate will continue for years to come. As real estate experts continue to note, the lack of new houses on the market will serve as a barrier against a significant decline in prices. This is the exact opposite situation which existed prior to the housing market collapse of the past decade when new inventory eventually swamped the demand for houses.”
“Lamps decorated with bacteria cultures, a swarm of drones programmed to mimic a flock of birds and the world’s first modular hearing aid are among 261 design projects that made the 2019 longlist for Dezeen Awards.
We attracted over 4,500 entries from 87 different countries for the second edition of our awards programme, which celebrates the best new architecture, interiors and design in the world.”
The next big inequality crisis is Big Cities vs. the rest of America
“McKinsey’s analysis of 315 cities and more than 3,000 counties shows only the healthiest local economies will be able to successfully adapt to disruptions caused by the next wave of automation. Wide swaths of the country, especially already-distressed rural regions, are in danger of shedding more jobs.”
Now, this is cool. The Americas Mart buildings and Peachtree Center get facelifts. And…”Between the two Portman-designed and developed centers, a proposal has been floated to convert Peachtree Street into a half-mile, Dutch-style “woonerf”—a shared space welcoming to pedestrians, cyclists, and drivers.”
Goodie Mob play a Wednesday Wind Down free show in downtown East Point
What U know about the Dirty South?
Industry analyst Mike Del Prete does a deep dive on Compass – this is article 4 of 5. My fintech and retech savvy friends want to know what’s going on with my new company…. “The company is deploying an aggressive acquisition strategy to acquire agents and brokers to build market share, is positioning itself as a tech company, and sports a sky-high valuation based on its growth rate and future plans — but what are its future plans? How does it plan to turn the existing, unprofitable brokerage business into a mammoth of the real estate industry?”
Finally for this week, why does the same house in Los Angeles costs three times more than it does in Atlanta?
“The bargain cities are Atlanta and Raleigh, the ultra-pricey locales L.A. and Seattle. It’s important to note that when the numbers start in Q1 of 2008, near the top of the bubble, median prices in L.A. at $505,000 and Seattle at $366,000 were already a lot higher than in Atlanta ($175,000) and Raleigh ($214,000). Even in that peak period, Atlanta was building four times as many homes as the much bigger L.A.-Long Beach-Anaheim metro, and three times the volumes in Seattle-Tacoma-Bellevue.”