As median home prices continue to surge, buyers are taking a second look at alternative housing options, including modular and pre-manufactured homes. Unlike options from the past, today’s prefab homes are stylish and technology driven.
One of the newest options in this $19.3 billion industry comes from Singapore-based startup Nestron that offers four, prefab options that include a built-in artificial intelligence assistant named Canny that controls lighting, heating and security.
Banks may soon have the incentive they need to sink huge amounts of money into Opportunity Zones, the controversial Trump administration tax abatement program that has seen tepid investment levels to date.
The federal government plans to give commercial banks credit for issuing loans in low-income communities as part of a larger reform to a 1970s-era law called the Community Reinvestment Act. This is the first direct regulatory incentive for banks to lend in Opportunity Zones and could be a game-changer for the program, according to some experts.
Embattled coworking company WeWork is still growing. That’s not what you might expect from a company that recently had to be bailed out and that has pledged to cut costs and become profitable in three years. In November, WeWork laid off nearly 20 percent of its employees as a cost-cutting measure.
In the final quarter of 2019, WeWork leased an additional 441,000 square feet — about the size of six typical WeWork offices, though it includes one massive lease of 360,000 square feet at 437 Madison — in Manhattan, its biggest market, according to new data from real estate services company Cushman & Wakefield. As of the end of 2019, it was leasing a total of 8.2 million square feet in the borough, where it remains the biggest office tenant, beating JP Morgan Chase by nearly 3 million square feet.
The Bay Area braced itself in 2019 for a tsunami of tech cash that seemed poised to sweep away the region as we know it, but now it seems that this most recent year in housing was mostly a wash.
While some sources predicted that tech money would “eat San Francisco alive,” Compass real estate group, which assessed the state of the Bay Area in a report released last week, described the results as “basically flat—down a little bit up a little bit, or unchanged” depending on the city in question.
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