The latest Job Openings and Labor Turnover Survey (JOLTS) revealed the hiring rate ended March at 3.4%. When excluding the pandemic, the hiring rate is hovering near its lowest levels of the past decade.
DoorDash said it struck a $1.2 billion cash deal to buy closely held software concern SevenRooms, whose technology helps hotels and restaurants manage reservations.
Boston’s office-vacancy rate has increased to a record 14.2% from 6.7% in 2019.
Office demand in New York is back at pre-pandemic levels, with 7.9 million square feet of office space in Manhattan leased in Q1.
Marriott International has reached an agreement to acquire the select-service lifestyle brand citizenM for $355 million. The citizenM global portfolio currently consists of 36 open hotels comprising 8,544 rooms across more than 20 cities in the U.S., Europe and Asia Pacific.
In 2024, bookings priced between $1,000 and $1,500 per night grew 15% from 2023, while rentals below $1,000 grew by 6%.
Homeowner insurance premiums increased about 33% on average from 2020 to 2023. The more likely a home is considered to have a higher disaster risk, the more those homeowners pay — about $500 more per year in 2023 than those who don’t live in a place considered a high-risk disaster area.
Office utilization in River North is about 48% of its 2019 level. That compares with an average of 55% in Chicago’s central business district and 62% nationally.
The costs associated with owning a Florida condo have exploded. A combination of insurance increases, special assessments and limited financing options have elevated costs and sparked a wave of sales, flooding the market and straining prices. Condo prices in the state of Florida overall have fallen between 1% and 6% each month annually since July 2024.
A household in the top 0.1%—roughly 133,000 households each worth at least $46.3 million—accumulated an average $3.4 million a year since the third quarter of 1990, in 2024 dollars. In comparison, the wealth of the rest of the top 1%—roughly 1.2 million households each worth at least $11.2 million—grew by an average $450,000 per household, per year.
