Real Estate & Construction News Roundup (1/30/24) – Life Science Construction to Increase, Overall Homeownership is Majority Female, and Senators urge Fed Chair to Lower Interest Rates
In our latest roundup, hospitality and real estate companies create living options, SEC questions some financial institutions on exposure to risks from CRE, renting shows signs of overtaking buying in the housing market, and more!
- For generations, buying has almost always been favored over renting when it comes to housing, but with a tough real estate market, that might be changing. (Geoff Bennett and Dorothy Hastings, PBS)
- Single women own more homes than single men, and overall homeownership is now majority female. (Brianna Crane and Alice Feng, Axios)
- The SEC is asking smaller financial institutions, including community and regional banks, about their exposure to risks from commercial real estate in their loan portfolios. (S.J. Steinhardt, The New York State Society of CPAs)
- Life sciences construction deliveries will reach a record high in 2024, with 38 million square feet of new lab space currently under construction, according to a recent CBRE report. (Joe Burns, Facilities Dive)
- According to a recent analysis from CBRE, it is expected that hospitality companies will partner with residential real estate companies to create living options like student housing, co-living, senior communities and vacation homes. (Michele Laufik, Hotel Dive)
- Senator Elizabeth Warren and three Democratic colleagues urged Federal Reserve Chair Jerome Powell to lower interest rates to help bring down housing costs ahead of the central bank’s policy meeting this week. (Catarina Saraivam, Bloomberg via Yahoo)
- While rental markets are finally cooling, evictions have risen, the country is seeing the highest homelessness counts on record, and the need for rental assistance is greater than ever. (Harvard University)
