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24th of September, 2023

Weekly Industry News Review

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(London Ladd/For The Washington Post)

Washington Post: Housing market tightens again as inventory hits historic lows

This article delves into the current state of the housing market. It reveals that rising interest rates have discouraged both buyers and sellers, resulting in historic lows in available inventory. The head of a D.C.-area Realtors group characterizes the situation as "dysfunctional." With fewer buyers due to higher interest rates and sellers reluctant to let go of their existing homes with low mortgage rates, the market is facing significant challenges. Additionally, the local rental market is expected to remain favorable, making renting a more financially attractive option for many. Keep reading to learn more about the current situation!

CNN: How climate change threatens some of the world’s most coveted real estate

The article examines the profound effects of climate change on prime real estate, with a focus on the Red Hill Peninsula in Hong Kong. This location serves as a stark example of how climate change-induced weather events are increasingly jeopardizing real estate markets. Rising sea levels, extreme weather, and environmental risks are posing significant challenges to some of the world's most desirable properties, highlighting the urgent need for adaptation and mitigation strategies in the face of this global issue. 


(Tyrone Siu/Reuters)


Helynn Ospina/The Wall Street Journal

Wall Street Journal: Watching the Real-Estate Bust From the Streets of San Francisco

The article discusses the challenges faced by San Francisco's commercial property market. It highlights how office buildings and a shopping mall in the city are struggling as they lose tenants. This situation is occurring amid the backdrop of higher interest rates, which have had a negative impact on real estate values in the area and in other cities alike. For more details, check out the full article on the Wall Street Journal's website.

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