Real Estate & Construction News Round-Up 04/27/22

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The Biden Administration plans to require U.S.-made steel and iron for American infrastructure, two major real estate players expand into the metaverse, robotics may be a solution to the construction industry’s labor shortage, and more.

  • A new report published by Core Logic indicates there is an increasing chance that the economic shock caused by soaring mortgage rates could see home values fall in some overpriced housing markets. (Lance Lambert, Fortune)
  • With the construction industry needing more than 500,000 workers above its current pace of hiring to meet this year’s demand, robotic prospects are being explored to automate operational processes. (Sebastian Obando, Construction Dive)
  • Amazon’s rapid-fire warehouse expansions have put critical pressure on the supply chain for building materials. (The Real Deal)
  • The Biden Administration recently issued requirements for how projects funded by the U.S. $1 trillion bipartisan infrastructure package source their construction material. (Josh Boak, Global News)
  • Two major real estate players, Jamestown and CBRE, are stepping into the metaverse, suggesting new approaches to the evolving online platforms may be taking shape. (Patrick Sisson, Bisnow)