Real Estate & Construction News Roundup (06/28/23)
In our latest roundup, we examine the Supreme Court’s ruling regarding water supply responsibilities, the federal reserve chair’s reaction to possible banking losses, several analyses of the future of commercial real estate, and more!
- California Representative Maxine Waters has introduced several pieces of legislation aimed at combating homelessness and fixing the increasingly tumultuous affordable housing situation. (Eliza Relman, Business Insider)
- The Supreme Court ruled in favor of the federal government in a case that decided responsibility over water supply as well as the overall dissemination of water usage for the Navajo Nation. (Ariane de Vogue, CNN)
- Unlike other nations with similar construction, the United States’ public transportation has extremely high costs. (Darian Woods, Corey Bridges, Viet Le, NPR)
- Federal Reserve Chair Jerome Powell admitted to reporters that some, especially smaller banks, have a high risk of loss due to their commercial real estate holdings. (Alena Botros, MSN via Fortune)
- While looking to fight climate change, the new building codes in Massachusetts may prevent many residents from being able to afford a home in the area. (Paula Ebben, CBS)
- Two multibillion-dollar lawsuits against the National Association of Realtors and some of the country’s largest brokerages could fundamentally reshape how we buy and sell homes in the United States. (James Rodriguez, Business Insider)
- Capital Economics, PwC, Morgan Stanley, Bank of America, UBS, and Goldman Sachs all weigh in on the future outlook of commercial real estate as we head into the second half of 2023. (Alena Botros, Yahoo via Fortune)
