Economy

New York state is soliciting development proposals for the Vital Brooklyn Initiative to construct thousands of affordable homes.

The short-term rental market has a wealth of benefits, and cities should start embracing them.

The industrial product in infill Los Angeles has an average age of 39 years, and the dated product is not equipped to handle the needs of ecommerce tenants.

At the Crittenden National Real Estate Conference yesterday, panelists fear rising construction costs, rent control for California and a supply constrained market, but say housing cycle could go much longer this go around.

" Because Atlanta still has a lot of room for growth, from a population standpoint, I believe the sales will catch up over time as more people move to the area, but I don't believe the retailers can sustain this current trajectory as it relates to rental rate increases," says Franklin Street managing director Monetha Cobb.

Los Angeles is at nearly full employment, and while that is great news for the local economy, it has hampered leasing activity this year in the office sector.

Tech spending neared $70 million in Orange County in the first quarter, and the office market is positioned to gain from the activity.

“Hudson County is among the hottest development markets, especially for multifamily properties, in the Tri-State Area,” says Kislak's Scott Davidovic.