Real Estate
The housing crisis’ Hamlet moment: to Airbnb or not Airbnb? Airbnb dominates the short-term rental market, but the service’s success has started a new conversation: the company’s impact on housing affordability, also known as the “Airbnb effect.” But it’s a layered conversation, Michael Seiler, professor of real estate and finance at the College of William & Mary, told Fortune. The real effect to pay attention to, he said, is what Airbnb does to long-term rentals. (fortune.com)
Homeowners Sue Real-Estate Brokers Hoping to Recoup Lost Home Value (businessinsider.com) – Now that home prices are starting to decline across the US because of a souring economy, a growing number of recent buyers and sellers are feeling more than regret after exchanging keys and leaving the closing table.
Americans May Want More Space, but Their Apartments Are Getting Smaller. The rent isn’t just too damn high—the apartment that you’re renting may well be getting too damn small, too. In 2022, the average size of new apartments was 887 square feet, a drop of 54 square feet over the past 10 years as developers increasingly focused on putting up more studios and one-bedroom apartments. That’s according to a new report from RentCafe, which shows how the surging demand for rentals continues to play out across the nation. Read article by Andrea Riquier at realtors.com.
This 26-year-old pays $0 to live in a ‘luxury tiny home’ she built for $35,000 in her backyard—take a look inside. (cnbc.com)
Commercial Real Estate Leaders Study New York’s Office Landscape With Cornell Students. For the first time in its history, Cornell University’s Baker Program in Real Estate brings students to Cornell’s Tech Campus located in New York City, the epicenter of the real estate industry, for discussions on the evolution of the workplace with top commercial real estate leaders. (rew-online.com)