- Rent-Control Measures Are Back as Home Rents Reach New Highs “These proposals, which would generally allow landlords to boost monthly rents by no more than 2% to 10%, are on the legislative agenda in more than a dozen states. Rental prices are up about 18% on average over the past two years, according to real-estate broker Redfin Corp. , hitting record levels across the U.S.” (The Wall Street Journal)
- Rent Increases Hit 35-Year High As Inflation, Global Conflict Hit Home “The sizable increase to rental prices comes as scores of management companies, cities and states let pandemic-era eviction protections and rent freezes expire. Landlords are pushing up prices as they look to recover revenue lost since March 2020, the Washington Post reported.” (Bisnow)
- CREW Network President: ‘Speak Up for Yourself!’ “Reuter is a firm believer in ‘if you don’t ask, you don’t get.’ Along with other female leaders, she has been supporting women in the commercial real estate industry to advocate for themselves by leveraging their knowledge and strengths in the workplace.” (Commercial Property Executive)
- Retailers Are Outsourcing More and More Real Estate Functions “Outsourcing real estate-related functions has become a common way for retailers to remain flexible and respond to new consumer demands.” (GlobeSt.com)
- Courts Threaten to Undercut IRS Efforts to Go After Tax Shelters “The latest decision—which came this month in a case involving Michigan business owners and life-insurance products—could slow the government’s ability to require taxpayers to disclose their participation in aggressive tax shelters, tax lawyers said.” (The Wall Street Journal)
- WeWork Is Still Losing Money, Just Not Quite as Much as Before “The coworking giant’s fourth-quarter revenue increased to $718 million in the fourth quarter, a 9 percent improvement from the $661 million it posted in the previous quarter. Its revenue still remained lower than its pre-pandemic levels, with the company pulling in $881.7 million in the first quarter of 2020.” (Commercial Observer)
- Single-family rental marketplace Roofstock hits $2B valuation “The Oakland-based company’s $1.94 billion valuation more than triples the $600 million valuation given at the time of its $50 million Series D in January 2020. Roofstock claims it nearly tripled its revenue in 2021 while facilitating more than $2.5 billion in deals for single-family rentals.” (The Real Deal)
- NYC luxury real estate market sees influx of Russian sellers liquidating fast ahead of possible US sanctions “Of the Manhattan properties that may be sold under the radar, the majority are on Billionaires’ Row, a set of ultra-luxury residential skyscrapers along the southern end of Central Park. There are others in the West Village, as well as some luxury condominiums on Park Avenue and Fifth Avenue.” (Fox Business)
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