By KIMBERLEY HAAS
As the future of traditional office spaces remains unclear, the coworking industry is seeing growth, and college students could boost this market while benefiting from the opportunity to work alongside established professionals and entrepreneurs.
According to a CoworkingCafe market study released last week, 80% of the top 100 universities in the country have at least one coworking space close to campus. Analysts found a total of 926 coworking spaces within two miles of the schools they looked at.
New York University has 220 coworking spaces around its campus, George Washington University in Washington, DC, has 74, and the University of Illinois at Chicago rounds out the top three with 66 coworking spaces within two miles.
The median…
By ERIN FLYNN JAY
Return to the office mandates and the continued desire for a better quality of life are affecting Americans as they decide where to move in 2023.
Companies that allowed employees to work remotely during and immediately after the Covid pandemic are reversing course this year. On Sept. 5, Meta’s requirement that employees assigned to an office show up at least three days a week went into effect.
With the policy change, Facebook and Instagram’s parent company joined Google and other major employers that are pulling the plug on remote work despite advances in technology that allow people to log in from anywhere. Some analysts argue that it is a leadership preference, while others point out that…
By NICOLE MURRAY
California continues to dominate the luxury homes market, but that could change as communities fight for the country’s wealthiest individuals.
In a recent Point2Homes.com study, analysts looked at which cities in the United States have the highest share of luxury homes worth at least $1 million for sale. Results were categorized by large, mid-sized, and small cities.
They found that listings above $1 million make up around 64% of the for-sale market in Los Angeles.
LA also led the ultra-luxury sector, with almost 12% of its homes priced above $5 million.
Glendale (66%), Huntington Beach (63%), and Oxnard (43%) in California were found to be the three most luxurious mid-sized markets with high percentages of the homes…
By NICOLE MURRAY
Successful malls are offering more than a little retail therapy these days.
Shopping malls across the country have been forced to pivot their business strategies as inflation rates spike, retail spaces become vacant, and e-commerce grows in popularity.
Experts say malls have performed differently depending on their class.
According to Kelly Mangold, principal at RCLCO Real Estate Consulting, class A malls with exclusive, high-end luxury retailers with few vacancies have continued to perform the best.
“Malls tend to be successful when they are transformed into a one-stop shop for high-end goods that people cannot get anywhere else nearby,” Mangold said.
Class B malls, whose success relies on their anchor retailers, have struggled because, “their level of business…
By ERIN FLYNN JAY
American homebuyers are getting older and industry leaders are preparing to welcome more Hispanic homeowners in the coming decades.
According to the 2023 Home Buyers and Sellers Generational Trends Report by the National Association of Realtors, members of Gen X between 43 and 57 years old made up 24% of recent buyers. They were followed closely by younger Baby Boomers who, between 58 and 67 years old, represented 23% of recent buyers.
Older Millenials between the ages of 33 and 42 accounted for just 16% of recent purchases.
The typical first-time homebuyer is 36, and the typical repeat buyer’s age climbed to 59 last year. Those are the highest ages recorded, a press release for NAR’s…
The Mortgage Note’s Editor Kimberley Haas has been interviewing some of the leaders in the country over the past year. This podcast highlights the successes and innovations taking place in the mortgage industry. If you would like to participate in future episodes, please email us at [email protected]. Read Articles Featuring The Guests: Meet The Woman Behind “Wall Street South” You Can Get A Mortgage At Walmart Learn About Financing Manufactured Homes With Rocket’s EVP Of Capital Markets Guild Leaders Hope To Help Hispanic Homebuyers Through New Partnership The Future Landscape Of Cities: Live-Work-Play, Science Centers, Medical Offices Follow Us On Twitter:
The Biden-Harris administration announced new actions to protect renters this week and leaders at the U.S. Department of…
By PATRICK LAVERY You’ve seen them. They masquerade as churches, funeral homes, radio stations, pharmacies, even – blasphemy! – other restaurants. But they all have one thing in common. They used to be a Pizza Hut. Now, it may be true that no one out-pizzas the Hut, but the huts themselves have slowly become outmoded relics over the past two to three decades when it comes to the chain’s business model. In that time, the take-out option that was always an alternative to sitting under the red, trapezoidal roof has brought Pizza Hut closer in spirit to its main competitors Domino’s, Little Caesars, and Papa John’s. It’s now common to see Pizza Hut paired in strip malls, airports, or rest…
By KIMBERLEY HAAS The 26-year-old CEO of Alpha Capital Funds has plans to buy multi-family properties throughout the state of Connecticut with the goal of acquiring 500 units by the end of 2023. Tyler Smith, who says he was always hustling, started his career investing in real estate when he was still a student at Quinnipiac University in New Haven. “I was putting myself through school,” Smith said during a recent interview with The Mortgage Note. “I came across real estate.” Smith said he was 20 years old when he closed his first deal. Over time, his original company, Quick Cash for CT Houses, grew. “Once I started doing a lot more deals I scaled the company up. We were…
By KIMBERLEY HAAS The future of live-work-play communities looks bright heading into 2023 as investors figure out ways to make money in real estate with a recession looming. A CoworkingCafe study shows that 512 live-work-play communities were built across the nation between 2012 and 2022, with another 101 in the pipeline for the next two years. New York City is currently leading the way with the highest number of mixed-use buildings with 50. Four more are planned for 2023. Analysts at CoworkingCafe used data from CommercialEdge and Yardi Matrix. Doug Ressler, Business Intelligence Manager at Yardi Matrix, recently sat down with The Mortgage Note. Ressler said the company does data research on different asset classes of commercial real estate. They have…
