Amazon is seeking more office space for its existing operations but the move could foreshadow its selection of its next headquarters. The Boston Globe's Tim Logan reports: Amazon is on the hunt for as much as 1 million square feet of office space in Boston, adding a new level of intrigue to the retail giant’s plans as it whittles down the list of the cities competing for its second headquarters. The Seattle company is negotiating with a Seaport developer to lease an entire office building, and possibly two, to continue its expansion in the city, according to real estate industry … [Read more...]
The New Model is the Old Model in Real Estate Development
The new big thing in real estate development is walkable, mixed use neighborhoods. Obviously this is the model of real estate development when neighborhoods were allowed to grow organically. People tend to enjoy living nearer to the shops they patronize and the offices they work in, so it shouldn't be too surprising that this would work. Esther Fung reports: Despite a glut in U.S. retail space, some developers are building more, just not in the form of malls but alongside new homes in smaller chunks than before. The target clientele: younger and even some older Americans who are looking … [Read more...]
This Market is Smoking-Hot
Over the weekend I received a post-card sized mailer from a local realtor. She was reaching out to residents in my general neighborhood. She has a retired couple interested in buying in the “neighborhood.” Her “clients” want off street parking, an easy to maintain yard, located within walking distance to the center of Newport. Whether this couple exists is neither here nor there. The real estate market, as she points out, is smoking hot and if you’re thinking about selling she wants to hear from you. Pretty clever approach for stressed out buyers or realtors. Which leads me to an article … [Read more...]
What’s Supporting Real Estate Prices?
Access to money is one of the key reasons for success in commercial real estate, especially here in the U.S. where REITs are everywhere. But with dividend yields near historic lows it begs the question: What is supporting these lofty prices? Even skyscrapers don’t grow forever. Now in Malaysia, where REITs seemed ready for prime time, things aren't looking so good. Shefali Anand writes: Until recently, Malaysia seemed to be on track toward building a successful market for real-estate investment trusts. Its market grew to a capitalization of around $10 billion, and included Kuala Lumpur’s … [Read more...]
Is This the Best Real Estate Investment Today?
America's malls and big box dungeons are emptying at a rapid pace. Commercial real estate would appear to have problems, but there are silver linings in certain areas of the market. The Wall Street Journal's Esther Fung writes: E-commerce has been blamed for the struggles of retail real estate, but is proving to be a boon for owners of data centers and cell towers. As more people consume digital content and make purchases online, landlords and owners of data centers and cell towers that house cables and beam data to smartphones are looking to expand faster. The moves show how technology … [Read more...]
Are the Chinese Set for a Housing Bust?
Every time their government puts a new restriction on home buying, Chinese investors put more money in new apartments and homes. Some are certain that the government will prop up housing prices forever, some are scared that if they don't buy now, they may not get a chance later. Investors in China are trapped in a TINA market, as in "There Is No Alternative," to investing in homes. As Pei Zhiyong, a housing investor told the Wall Street Journal, "No other investment is as profitable as property. Stocks are too risky.” Lingling Wei and Dominique Fong report the excesses in the market: With … [Read more...]
Mega-Trend: Millennials Associate Homeownership with the American Dream More So Than Generation X or Baby Boomers
Alan Berger and Joel Kotkin, authors of Infinite Suburbia, recently had a good interview with the Hyperloop One blog on the resurgence of suburbia. I thought this was interesting: From 1980 to 2003 in the U.S., rural landmass conversion to urbanized areas was about the size of New York State. From 2003 to 2030 the conversion is estimated to be the size of Utah. That's a mega-trend. I think part of the problem with the initial conversion to suburbia was too little attention to quality of life. And to make improvements harder, suburbia had its haters—mostly academics and wealthy city … [Read more...]
Can You Live Anywhere You Want in the World?
Have you heard of Sprout? It’s not a food. It’s a company that’s involved with building the future. Literally. Sprout is part of the tiny house movement where the dream of living in 300 to 600 sq. feet becomes a reality. Sound like fun? Maybe not. For you at least. But hear me out. As real estate prices become more and more expensive in places we want to be—who services them? Think Baby Boomers and think Millennials. How do they co-exist successfully? It’s becoming more difficult in desirable places. Desirable being the driving force. Off the top of my head, and from … [Read more...]
Houses Built By Robots are the Next Big Thing in Construction
Hotels, mansions, and affordable homes are being built by robots today. You may not be able to tell as you drive by your neighbor's house, but a shortage of skilled labor in the construction market has left home builders relying on machines to produce more and more of each house. Inside the factories where the robots, with help from both skilled and unskilled humans, make the homes, conditions are controlled. There's no down time caused by foul weather, and every nail driven by a robot ends up right where it's meant to go. And perhaps most essential to the growth of the prefabricated … [Read more...]
Going Up the Country: The Burbs Grow Once Again
It's not all about the bright lights and big city. For the first time since the financial crisis, Americans are moving to the outer suburbs at a faster rate than they are to the city core. Americans are also moving from North to South once again, another traditional movement pattern that has started once again. Paul Overberg writes: Central counties of metropolitan areas grew 0.7% last year while outlying counties grew 1%, according to new Census Bureau population estimates for the year that ended July 1. After two years of roughly comparable growth, this marked the first time since the … [Read more...]
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