Real Estate & Construction News Roundup (4/10/24) – Hotels Integrate AI, Baby-Boomers Stay Put, and Insurance Affects Housing Market
In our latest roundup, DOT’s major grant programs, proptech’s solution to climate change risks, mortgage-locked sellers put their homes on the market, and more!
- The U.S. Department of Transportation opened applications for four major grant programs for infrastructure and transportation projects, totaling about $7.5 billion. (Dan Zukowski, Construction Dive)
- Hotel brands are integrating AI into their operational processes — such as virtual concierges — and working toward sustainability initiatives that accelerate more environmentally friendly practices industry-wide. (Noelle Mateer, Hotel Dive)
- The housing market will soon exit its slowdown, thanks to a growing number of mortgage-locked sellers opting to put their homes on the market, according to JPMorgan Asset Management. (Jennifer Sor, Business Insider)
- With fewer existing homes on sale, circumstances are stacked against younger homebuyers in search of a family-sized property as most home-owning baby boomers indicate they will not downsize as they age. (Filip De Mott, Business Insider)
- The convergence of proptech and construction technology (contech) emerges as a promising solution for improving infrastructure resilience considering the growing concerns surrounding climate change and its implications for heightened natural disaster risks. (Angelica Krystle Donati, Forbes)
- Climate change and generations of U.S. housing and development policy are making homes, neighborhoods, and entire municipalities riskier to insure, undermining the ability of Americans to live where they choose. (Saul Elbein, The Hill)
- The Biden administration moved to limit how much rent can rise in certain affordable housing units across the country, capping rent increases at 10%. (Annie Nova, CNBC)
