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:
Not many real estate startups can get Mayor Michael Bloomberg to announce their launch. And fewer still can convince some of the smartest venture capitalists in the country that they’re worth betting on, again and again.
Compass did both those things, making the lofty promise it would transform brokerage with tech. But as it seeks a $1.3 billion valuation, it’s worth scrutinizing the firm’s numbers: It claims, for one, that its agents generate over $6 billion in sales volume annually. But when The Real Deal dug into that figure, we found it included sales from before many of these agents had even joined Compass, making it a bit of a red herring.
The U.S. real estate industry generates more than 20 percent of America’s GDP, employs more than 9 million people, and produces nearly two-thirds of the taxes raised by local governments for essential public services.
What is the relationship between the strength of the U.S. real estate market and the overall health of the economy? How do demographic shifts affect real estate trends? How will economic policy decisions in 2017 and beyond affect the strength of the real estate market? How can the real estate industry and government leaders work together to make homeownership and financial capital more accessible to first-time buyers, Millennials, and minorities? What policy and regulatory reforms are needed to maintain credit market capacity and capital formation? What innovations in technology and sustainability are impacting the industry?
For David Wong, the business of selling homes isn’t as good this year as it was in 2015, and he’s blaming that on a decline in customers from China.
“The residential-property market here, especially for those priced between $2.5 million to $3 million, has been affected by China’s measures to control capital flight,” said the New York City-based Keller Williams Realty Landmark broker. “You need to cut the price, or it may take a real long time.”
By Robert Frank via CNBC
Vancouver, British Columbia, residents will soon get a larger cut from the real estate shopping spree that’s taking place in their city, courtesy of wealthy overseas buyers that are snatching up property there.
The British Columbian government on Monday approved a new 15 percent tax on foreign property buyers in metropolitan Vancouver, as a surge in real estate purchases by rich foreigners — particularly the Chinese — has caused many locals to say they’ve been priced out of the market.
New York City real estate brokers have long touted the uniqueness of the local real estate market as a reason why for sale by owner (FSBO) home sales have never gained in popularity versus the rest of the country.
At first glance, they appear to be right. There were 22,745 for sale by agent listings versus 939 FSBO listings in NYC as of July 15, according to Zillow, meaning FSBO properties make up around 4 percent of the total number of listings in the city.
Did you like these articles? What were your favorite articles this week?