Gravel2Gavel Construction & Real Estate Law Blog
In our latest roundup, UBS to liquidate $2 billion real estate fund, hotel workers in San Francisco vote to strike, housing market to change after blockbuster settlement, and more!
- When it comes to buying and selling homes, new rules are about to be put in play, five months after the National Association of Realtors agreed to a settlement over how its 1.5 million agents across the U.S. are paid commissions. (Kate Gibson, CBS)
- Project abandonments tumbled in July in one of the largest monthly declines ever due to the anticipated interest rate cut. (Sebastian Obando, Construction Dive)
- Increases in energy prices drove most of the total rise in construction input costs over the past month. (Sebastian Obando, Construction Dive)
- Hotel workers in San Francisco voted overwhelmingly to authorize strikes following unions in Boston and Honolulu with votes still forthcoming in Seattle, Oakland, San Jose and San Diego. (Noelle Mateer, Facilities Dive)
- As attention shifts away from large tech companies and AI-driven investing, investors are seeking out other opportunities across the broader markets such as real estate investment trusts (REITs). (Deidre Woollard, Yahoo)
- Across product types, commercial real estate has struggled to keep pace with demand trends that are evolving faster than buildings can be built or renovated in the post-COVID-19 era. (Yilun Zha and Tracy Hadden Loh, Brookings)
- UBS to liquidate a $2 billion real estate fund it acquired when it bought Credit Suisse, in the latest sign of investors selling out of troubled commercial property markets. (Reuters)