Brokers say the very top of the market — consisting of eight- and nine-figure homes — is faring the worst as slowing economies overseas and volatile stock markets have spooked buyers. The supply of homes for the rich exploded as builders aimed at the high end after the financial crisis. — NYT
Property funds worth £18 billion have stopped trading after Brexit sent a chill through the commercial property market. [...]
The fear was that too many property investors would try to take their money out at once, forcing fund managers to sell properties at a loss. [...]
The Bank of England has warned that the share prices of UK real estate investment trusts have fallen sharply following the referendum. — Independent
Led by a still active multi-family housing market and sustained by solid levels of demand for new commercial and retail properties, the Architecture Billings Index has accelerated to its highest score in nearly a year. [...] May ABI score was 53.1, up sharply from the mark of 50.6 in the previous month. This score reflects an increase in design services (any score above 50 indicates an increase in billings). The new projects inquiry index was 60.1, up from a reading of 56.9 the previous month. — AIA
After beginning the year with a decline, the Architecture Billings Index has posted three consecutive months of increasing demand for design activity at architecture firms. [...] (AIA) reported the April ABI score was 50.6, down from the mark of 51.9 in the previous month. This score still reflects an increase in design services (any score above 50 indicates an increase in billings). The new projects inquiry index was 56.9, down from a reading of 58.1 the previous month. — aia.org
Key ABI highlights for the month of April were reported by the AIA as:Regional averages: South (52.2), Northeast (51.5), West (50.8), Midwest (50.8)Sector index breakdown: multi-family residential (53.7), commercial / industrial (52.0), mixed practice (50.0), institutional (49.0)Project inquiries...
A study commissioned by the developer indicated that total economic output of the companies projected to occupy Hudson Yards will contribute $18.9 billion to the city's gross domestic product. [...]
Many projections in the report are also contingent on a host of economic indicators in the city, including demand for Class A office space. Out of the 10.4 million square feet Related will have to lease up, so far it has locked in commitments from tenants for 4 million square feet. — crainsnewyork.com
The Architecture Billings Index reflects consecutive months of increasing demand for design activity at architecture firms. [...] The American Institute of Architects (AIA) reported the March ABI score was 51.9, up from the mark of 50.3 in the previous month. This score reflects an increase in design services (any score above 50 indicates an increase in billings). The new projects inquiry index was 58.1, down from a reading of 59.5 the previous month. — aia.org
In the old days of policymaking by aphorism—give a man a fish, feed him for a day!—simply handing money to the poor was considered an obviously bad idea. How naïve—you can’t just give people money. They’ll stop trying! They’ll just get drunk! The underlying assumption was that the poor weren’t good at making decisions for themselves: Experts had to make the decisions for them.
As it turns out, that assumption was wrong. — Slate
Infrastructure was once at the heart of American public policy. Works such as the Los Angeles Aqueduct, Hoover Dam, and the Interstate Highway System transformed the economy. Today, we spend significantly less, as a share of G.D.P., on infrastructure than we did fifty years ago [...] polls show that infrastructure spending is popular with a majority of voters across the income spectrum. Historically, it enjoyed bipartisan support from politicians, too. If it’s so popular, why doesn’t it happen? — newyorker.com
The Architecture Billings Index saw a dip into negative terrain for the first time in five months in January, but inched back up in February with a small increase in demand for design services... [AIA] reported the February ABI score was 50.3, up slightly from the mark of 49.6 in the previous month. This score reflects a minor increase in design services (any score above 50 indicates an increase in billings). The new projects inquiry index was 59.5, up from a reading of 55.3 the previous month. — aia.org
While cities like Dallas and San Francisco have rebounded strongly since the recession, many other places are still struggling for economic growth and prosperity. As time goes on, we're seeing a divergence between successful parts of the country and the non-successful parts.
More than 50 million Americans live in "distressed" ZIP codes, according to a new report from the Economic Innovation Group, a Washington D.C. think-tank. — Fast.Co Exist
Following a generally positive performance in 2015, the Architecture Billings Index has begun this year modestly dipping back into negative terrain. [...] The American Institute of Architects (AIA) reported the January ABI score was 49.6, down slightly from the mark of 51.3 in the previous month. This score reflects a minor decrease in design services (any score above 50 indicates an increase in billings). The new projects inquiry index was 55.3, down from a reading of 60.5 the previous month. — aia.org
“I give it two years, max [...] It will be US business interests that finally push congress into lifting the embargo – they’re all going crazy being shut out of this market.” American architects and developers are already queuing up to be first in line, ready to pounce on investment opportunities when the embargo drops. Frank Gehry sailed into Havana in December, aboard a streamlined yacht he designed for himself, here to “offer his expertise to Cuba” according to a government statement. — theguardian.com
There were a few occasions where demand for design services decreased from a month-to-month basis in 2015, but the Architecture Billings Index (ABI) concluded the year in positive terrain and was so in eight of the twelve months of the year. [...] (AIA) reported the December ABI score was 50.9, up from the mark of 49.3 in the previous month. This score reflects a slight increase in design services [...]. The new projects inquiry index was 60.2, up from a reading of 58.6 the previous month. — aia.org
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