There are so many real estate articles out there — and so little time! For busy investors looking to take a quick reading break, look no further than our list of recommended reading for the week. From advice and investment tips to market reviews, we’re highlighting the stuff that’s really worth your time.
So sit back, and take a break. These were the 5 Must-Read Real Estate Articles of The Past Week:
The unthinkable has happened. Despite forecasts to the contrary, the United Kingdom has chosen to leave the European Union. The pound immediately took a nosedive as markets opened on the morning of Friday, June 24, and the economic outlook for the country is now more uncertain than ever, especially after Prime Minister David Cameron, who supported the Remain campaign,announced his resignation. But how will Brexit — shorthand for Britain’s exit from the European Union — affect the British real estate market.
Game on: A fight between the powerful Real Estate Board of New York and short-term rentals giant Airbnb erupted in Albany last week, as lawmakers passed a bill taking aim at tenants who list short-term rentals. Current law fines building owners – not renters – if tenants illegally rent out their apartments for fewer than 30 days, Crain’s reported. As building owners try to fight back against what they see as a scourge of Airbnb, REBNY backed the bill, which now awaits Gov. Andrew Cuomo’s approval.
U.S. commercial real estate prices may fall as much as 5 percent in the next 12 months amid tightened regulations, a wall of debt maturities and property sales by publicly traded landlords, Pacific Investment Management Co. said in a report Monday. A global surge in demand for U.S. property investments that pushed real estate values to records may wane as slowing growth in China, lower oil prices and dislocated debt markets threaten to halt six years of price growth, Pimco portfolio managers John Murray and Anthony Clarke said in their report, titled “U.S. Real Estate: A Storm Is Brewing.”
By Ingo Winzer via Forbes
The LA economy is different than it was. In the last twenty years it’s lost a half million manufacturing jobs, many in the aircraft business. Tourism picked up some of the slack but at lower pay, and many jobs now revolve around services to the population of 17 million that’s increasing very slowly. Healthcare is the fastest growing industry. The demographics are different too; 48 percent of residents in LA County are Latino, 14 percent Asian, a third are immigrants.
At the Grand at Sky View Parc, a luxury condominium development in Flushing, Queens, there are a health club, a pool and a children’s play area, among other amenities, but no laundry room. That’s because the developer, Onex Real Estate Partners, has outfitted each apartment with a washer and dryer, eliminating the need for common laundry facilities.
Did you like these articles? What were your favorite articles this week?