In Case You Missed It: Week of July 4 – 10
10 real estate predictions for the second half of 2016; apartment rent growth slows; Airbnb removes 2,233 listings from NYC; Brexit vote could trigger U.S. real estate boom; and more in this week’s roundup.
Wooing Governor Cuomo, Airbnb Boots 2,233 New York City Listings
Bloomberg – July 7, 2016
“Airbnb Inc. said it kicked 2,233 more listings off its platform in New York City, seeking to weed out hosts who violate its policies as New York Governor Andrew Cuomo weighs whether to sign legislation that would make it illegal to advertise multiple listings.”
10 Real Estate Predictions for the Second Half of 2016
Ten-X – July 7, 2016
“Last week we took a moment to reflect on some of our forecast and predictions we made at the start of the year. Today we look forward once again in an effort to anticipate and highlight some of the significant dynamics that will affect the economy and property markets. Some of these are reiterations that we believe still hold true and are relevant to property investors, while others reflect the shifting sands of the global macroeconomic landscape.”
As Growth in Apartment Rents Slows, U.S. Developers Press Pause
Bloomberg – July 6, 2016
“Apartment developers are starting to tread more carefully as cracks appear in the five-year-old boom that sent rents soaring to records across the U.S. Construction concentrated in fast-growing urban markets has left cities from New York to Denver and San Francisco with a surplus of high-end units. Rent growth has already tapered off in some areas, and lenders are getting more selective about the projects they fund.”
Apartment Rents Rise 4% in Second Quarter; Growth Slowing From Peak
The Wall Street Journal – July 5, 2016
“Rents increased by 4% in the second quarter over the same time last year, according to real-estate researcher Reis Inc. That was less than the 5% year-over-year growth in the fourth quarter of last year, which marked the biggest jump in rents since the dot-com boom in the early 2000s.”
Where Are the Tiniest Apartments in the Nation? (Hint: Not NYC)
DNAinfo – July 5, 2016
“Where can you find the smallest apartments in the nation? While you might know many Manhattan residents who squeeze into tiny apartments, this island, it turns out, doesn’t even make the list of the Top 20 compiled by a national real estate search site Rent Café.”
Brexit vote could mean US real estate boom as investors look outside London
The Guardian – July 2, 2016
“The US real estate market could get a boost in the coming months, some analysts are predicting, thanks to the UK’s vote to leave the European Union. The news could add further fire to the already overheated property markets in some of the US’s biggest cities.”
And now for something completely different…
Can New York Be Saved in the Era of Global Warming?
Rolling Stone – July 5, 2016
“Zarrilli may be the only person in the world who holds in his head the full catastrophe of what rising seas and increasingly violent storms mean to the greatest city in America. Not surprisingly, instead of musing about the beautiful weather, he points to the East River, where the water is innocently bouncing off the sea wall about six feet below us. “During Sandy,” he says, darkly, “the storm surge was about nine feet above high tide. You and I would be standing in about four feet of water right now.’”