Biotech and pharmaceutical buildings became one of the hottest investments in commercial property at the start of the pandemic. Now, the glut of life-sciences properties has gotten so bad that some developers are exploring the unthinkable: marketing the space for office use.
U.S. households’ stock allocations have steadily inched up this year and recently accounted for around 42% of their total financial assets. That is the most on record in data going back to 1952.
Job growth slowed sharply in July, with the national unemployment rate rising to its highest level since 2021. At the same time, the share of people holding more than one job ticked up to 5.3% in July from 5.2% in June. That is a significant increase from a pandemic low of 4% in April 2020 and average 4.94% average from 2010 through 2019.
Owning a home was a record 47% more expensive than renting for the 12 months ending in June.
The number of U.S. hotels with an average daily rate of $1,000-plus in the first half of this year was 80, compared with 22 in 2019. In Europe, the number of places tripled, to 183.
Many landlords support eviction diversion program goals, especially when tied to rental assistance. They can often recover unpaid rent that is otherwise difficult to obtain in court.
Sales of previously owned homes in July rose 1.3% from the prior month to a seasonally adjusted annual rate of 3.95 million. That was the lowest level for any July since 2010. On an annual basis, existing-home sales, which make up most of the housing market, fell 2.5%.
As of July, consumer prices for food at home were 26% higher than they were at the end of 2019.
