Real Estate & Construction News Round-Up (03/08/23) – Updates on U.S. Mortgage Applications, the Inflation Reduction Act, and Multifamily Sector
This week’s round-up explores the cooling housing market and plummeting mortgage applications, potential tax-savings as a result of the 2022 Inflation Reduction Act (IRA), and new developments in the multifamily sector.
- Rising interest rates are impacting affordability and cooling the U.S. housing market, driving mortgage applications to lowest levels in decades. (Nicole Friedman, The Wall Street Journal)
- A number of companies are going all out to entice workers back to the office, and as new data on New York City emerges, upscale offices might help do the trick. (Emily Peck, Axios)
- For real estate developers and investors across the U.S., tax-saving opportunities are popping up as a result of the Inflation Reduction Act of 2022. (David Harlan & Laura Theiss, Dallas Business Journal)
- Rescue capital is speculated to be a more efficient and cost-effective way to recapitalize a real estate asset. (Joe Berko, Wealth Management)
- In the multifamily real estate sector, high costs and a greater concern for the environment are spurring efforts to cut construction time and expense while increasing sustainability. (Barbara Ballinger, RealtorMagazine)
- Despite the projections of a cryptocurrency winter, the metaverse real estate market is expected to grow by $5.37 billion by 2026. (Debra Kamin, The New York Times)
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