Real Estate & Construction News Roundup (08/30/23) – AI Predicts Home Prices, Construction’s Effect on the Economy, and Could Streamline Communications for Developers
In our latest roundup, SV invests in a new green “mega-city” outside San Francisco, refunds are given to investors in fraudulent real estate deal, homebuyers are losing purchasing power, and more!
- With major tech companies like Google and Amazon laying off workers, those with computer science and related degrees are looking to construction as a place to start or restart their careers. (Zachary Phillips, Construction Dive)
- Although Silicon Valley is the haven for most tech startups, Israel has become a place where those in construction innovation can find support and funding. (Matthew Thibault, Construction Dive)
- For those who may be concerned about the future price of their home, it may be possible for AI to look at a house and predict its price with “striking accuracy.” (Jacob Zinkula, Business Insider)
- Construction is a major force behind the U.S. economy and economic downshifts can show themselves when capital markets and construction investments dry up. (Anthony Johnson, Forbes)
- Some of Silicon Valley’s elites have invested nearly $1 billion into a new green “mega-city” outside of San Francisco. (Karen Breslau, Tom Giles and Bloomberg)
- Nearly 1,200 individuals who were defrauded and bought into what the sellers pitched as Sanctuary Belize, a supposed luxury development, will receive refund checks from the FTC. (Federal Trade Commission (FTC))
- IoT (Internet of Things) devices allow developers and construction firms to closely track project progress, enhance collaboration and streamline communication through real-time data and monitoring. (David Bitton, Forbes)
- Due in large part to high mortgage rates, the average homebuyer lost around $71,000 in purchasing power over the last year. (Jennifer Sor, Business Insider via Yahoo)
