Today's Real Estate Pulse
U.S. housing starts jump 10.8% in March, hitting a 15‑month high
Residential construction starts surged 10.8% in March 2026, matching both month‑over‑month and year‑over‑year growth. The Northeast led the rebound with an 18.9% YoY increase, and single‑family starts topped one million units for the first time in over a year. Meanwhile, permitting lagged and the South saw a 14% YoY drop in permits.
Also developing:
Citadel Founder to Meet NYC Leadership Amid Property Tax Tensions
Citadel founder and CEO Ken Griffin will meet New York Governor Kathy Hochul to discuss the state’s proposed “pied‑à‑terre” tax on second homes valued above $5 million. The levy, backed by Mayor Zohran Mamdani, aims to narrow New York City’s budget gap by taxing luxury properties that sit vacant for much of the year. Griffin, whose firm manages $67 billion, has publicly opposed the measure, arguing it threatens the city’s pro‑business reputation. Citadel cites $2.3 billion in state and city taxes paid by its partners and employees over the past five years.
Jefferson’s Property Reforms Began America’s Fight for Economic Mobility
Two hundred and fifty years ago, America declared independence from a king. But one of the quieter revolutions came after the Declaration, when Thomas Jefferson turned his attention to Virginia’s property laws. At the time, old English rules like entail and primogeniture...
Higher Rates Raise Investors' Opportunity Cost in Value‑add Real Estate
Don't think I appreciated the full impact of higher interest rates on the heavy value-add real estate business when rates increased initially in '22. The problem for operators isn't just the higher exit caps. It's the increased opportunity cost for investors of...
Retail Shakeup in Store for Candler Park’s Charming Old Retail Strip
The historic retail strip on McLendon Avenue in Atlanta’s Candler Park is experiencing a revival after longtime anchors like Flying Biscuit Café and Dr. Bombay’s closed. Writing studio Lostintheletters has opened a bookstore‑creative space in the former Flying Biscuit spot,...
Purchase Index Jumps 21% YoY, Modest Weekly Rise
MBA: "The seasonally adjusted Purchase Index increased 1 percent from one week earlier. The unadjusted Purchase Index increased 2 percent compared with the previous week and was 21 percent higher than the same week one year ago." Note: the comparable...
Abu Dhabi Saw Prewar Property Boom with Best-Ever First Quarter
Abu Dhabi’s property market posted its strongest first‑quarter performance on record, with off‑plan sales accounting for 81% of transactions and apartments making up roughly three‑quarters of deals. The flagship Manchester City Yas Residences alone generated $1.63 billion in sales within 72 hours...
Big Six Regional Office Markets to Rebound as Demand Rises, JLL Predicts
JLL forecasts UK regional office take‑up to reach 4.5 million sq ft in 2026, a 15% rise over 2025. Occupier demand is strengthening while new‑build vacancy rates sit below 2%, creating a tight supply environment. Prime rents have already climbed to £41.50‑£52 per...
Los Angeles Condo Prices Drop 6% to $656,000, Lowest in 12 Years
Los Angeles condo prices fell 6% year‑over‑year to a median $656,000 in February, the lowest level in more than a decade. The plunge, driven by a 17.7% surge in inventory and flat sales, widens the affordability gap between condos and...
Rithm Capital Posts 18% ROE and Rising Distributions Through Q3 2025
Rithm Capital Corp. posted earnings available for distribution of $0.54 per diluted share and an 18% return on equity for the first three quarters of 2025, underscoring consistent dividend growth and expanding loan‑origination volume. The results were bolstered by record‑high...
Exclusive: Buyers Found For Hudson's Bay Buildings In Vancouver, Calgary, Ottawa
Purchase agreements have been signed for the former Hudson’s Bay flagship buildings in Vancouver, Calgary, Ottawa, and the Windsor‑based Devonshire Mall space, marking the first confirmed sales since the properties entered receivership following HBC’s 2025 bankruptcy. The buyers include Astra...
A Major Housing Development Is in the Works for Pickering, but some Are Crying Foul
The City of Pickering will vote on a secondary housing plan that would convert 17 sq km of farmland into a community for more than 70,000 people, part of a broader effort to accommodate a projected rise to 150,000 residents by 2036....
L.A. Considers Expanding Airbnb-Style Short-Term Vacation Rentals
Los Angeles Mayor Karen Bass is pushing a budget amendment that would let owners of second homes list those properties on platforms like Airbnb for short‑term stays. The proposal is framed as a way to generate new tax revenue and...
State Exams Are Becoming a Revenue Exercise
State mortgage regulators are increasingly using examinations as a source of revenue, turning supervisory findings into hefty public fines that can run into the millions. The shift blurs the traditional line between confidential supervision and punitive enforcement, especially in multistate...
John Lewis Hit with Click-and-Collect Lawsuit
Landlord Hammerson and former co‑owner Aberdeen have sued John Lewis in the High Court, seeking a declaration that click‑and‑collect sales count toward turnover rent under the 1979 lease. The lease obliges John Lewis to pay a £30,000 (≈$38,400) base rent plus 0.75%...
Maine Vetoes Data Center Moratorium, but Pressure Continues
Maine Governor Janet Mills vetoed a bill that would have imposed a statewide moratorium on large‑scale data‑center projects, citing the need to protect a $550 million development in Jay that promises 800 construction jobs and 100 permanent positions. Instead, she will...
Youth Hostel Scheme Falls Short as only 44% of Expected Flats Offered: Audit
Hong Kong’s Youth Hostel Scheme, launched in the 2011‑12 policy address to deliver 3,000 affordable flats for young workers, has fallen far short of its goals. An Audit Commission report shows only 1,326 flats – just 44% of the target...
What Do Shoppers Think About the Future of Their High Street?
A BBC survey of shoppers in North East Lincolnshire reveals mixed feelings about the future of their high street, with many calling for more leisure and residential uses. The findings arrive as the council prepares for elections on May 7, where...
Easyhome Opens First Flagship Store in Kuala Lumpur
China‑based home‑furnishing giant Easyhome opened its flagship Easyhome Mall in Subang Jaya, Kuala Lumpur on 26 April 2026, marking the brand’s first large‑scale overseas store and a milestone in China‑Malaysia trade ties. The 5‑storey complex consolidates design, construction materials, furniture and smart‑home...
Landmark Properties Expands UK Footprint with Durham Mixed-Use Scheme
Landmark Properties is expanding its UK portfolio with a new 504‑bed purpose‑built student accommodation (PBSA) in Durham city centre. The mixed‑use scheme pairs the student housing block with retail, leisure and community spaces, forming a catalyst for urban regeneration. The...
Mortgage Lenders Can’t Rely on Trigger Leads Anymore. Here’s What Comes Next
In this episode, Catherine Loveland, SVP and GM of Volley, discusses how recent trigger‑lead legislation—an amendment to the Fair Credit Reporting Act that restricts credit bureaus from selling leads unless the lender has an existing relationship—forces mortgage lenders to shift...
Homebuying Intentions Decline Further in U.S.
Gallup’s latest Economy and Personal Finance poll shows only 25% of U.S. non‑homeowners expect to purchase a home within five years, the lowest level recorded since the survey began in 2013. A solid 67% now consider it a bad time...
Structural Surveys for Home Renovations – What Do You Need to Know?
A Level 3 RICS structural survey is crucial for period‑home renovations, especially when lenders require a valuation. The survey uncovers hidden defects, load‑bearing walls, and foundation issues, but can only assess accessible areas, leaving some risks unknown. Guidance from the RICS‑Historic...
Vernon Building Society Uses AI to Amplify Human Touch
Vernon Building Society, a 102‑year‑old mutual with 25,000 members, has deployed FinTechOS’s AI‑enabled platform to speed mortgage origination while keeping all final decisions in human hands. The upgrade integrates credit searches, valuations and payments into a single ecosystem, cutting manual...
Minoru Yamasaki's Northwestern National Life Building in Minneapolis to Be Converted Into Hotel
Minoru Yamasaki’s 1960s Northwestern National Life building in downtown Minneapolis will be transformed into a 165‑room hotel, with opening slated for 2028 pending approvals. The adaptive‑reuse plan retains the iconic white‑quartz concrete portico and marble façade while inserting wellness, event...
Bristol Backs 28-Storey Student Tower at Cabot Gate
Bristol City Council has given the green light to Hammerson’s plan to convert underused land beside Cabot Circus into a mixed‑use precinct anchored by a 28‑storey, octagonal student tower. Designed by Allford Hall Monaghan Morris, the development will feature student...
How Demographics Will Reshape the German Housing Market
Germany’s population is set to shrink by 2.5 million by 2040, yet the number of households will stay roughly stable as one‑ and two‑person homes rise. Smaller households drive demand for different sized units, creating a geographic split: cities face shortages...
MVRDV Obtains Construction Permit for Low-Carbon Mixed-Use Tour & Taxis Towers in Brussels
Rotterdam‑based MVRDV has secured a construction permit for the Tour & Taxis Towers, a 126‑metre, 58,000‑square‑metre mixed‑use development in Brussels. The twin‑tower scheme combines office space, 199 residential units and public amenities, anchored by a five‑storey plinth. Using its CarbonSpace...
Chinese Tycoon Zhao Zhijun Reaps 86% Gain as Hong Kong Luxury Home Pair Sells for $41M
Chinese investor Zhao Zhijun sold two adjoining units at 8‑12 Peak Road for HKD 320 million (about $40.8 million), netting an 86 % gain since his 2010 purchase of HKD 171.8 million ($21.9 million). The sale underscores a broader surge in Hong Kong’s ultra‑prime market, where 72...
Construction Starts Soon On AI Movie Studio in DFW Metroplex
Construction on a $750 million mixed‑use campus in Mansfield, Texas, will begin in August 2026, featuring an AI‑enabled movie studio. The first phase, budgeted at $50 million, adds four 18,000‑sq‑ft sound stages, production offices and parking, with completion slated for 2027. Over five...
Hepsor AS Consolidated Unaudited Interim Report for Q1 2026
Hepsor AS reported a record construction pace in Q1 2026, with 428 homes under build – up from 152 a year earlier – and total assets rising 6% to €97 million (≈$106 million). Sales revenue slumped 53% to €3.8 million (≈$4.1 million) while the net loss...
Midwest Migration Surge Threatens West Coast Decline
A new migration shift is happening in the U.S. The Midwest, after losing people for 30+ years, is now surging. With +16,000 migration in 2025. On the flip side, people are leaving the West Coast. California continues to lose people, and...
Purchase Apps Jump 21% YoY After 12% Rise
Purchase apps up 21% year over year, coming off a 12% YoY print last week
Report: Upzoning Spurred More Housing Construction in New York
Upzoning—changing zoning classifications to allow denser development—has been shown to boost housing construction in New York and Philadelphia, according to a new Urban Institute report. In New York, seven neighborhood‑scale upzonings produced roughly 4,000 additional units over four years, while...
Leaseholders Stuck Paying Costs Freeholders Should Cover
WW watch costs should fall on the freeholders and they would evaporate. But they don't so leaseholders pay ... comme d'hab
Thurmond's Outdated Housing Fix: Down‑payment Aid, Surplus Land
Getting caught up on the debate: "What would you do differently on housing?" Thurmond: Down-payment assistance, use surplus government land. Feels like a very dated answer.. https://t.co/OWDtxXNhGu
Agents Warn of ‘Alarming’ Rent Control Plans Under Reeves
UK Chancellor Rachel Reeves is reportedly weighing rent‑control measures, including a possible rent freeze, to ease household‑finance pressure. The proposals have sparked alarm among property agents who warn they could curb supply and deter investment in the private‑rented sector. Critics...
OPINION: You Can’t Fix a Structural Problem with Another Software Subscription
UK estate agencies face a turning point as new Renters’ Rights and Employees’ Rights legislation threatens recurring revenue and raises staffing costs. At the same time, a flood of PropTech subscriptions has left owners with overlapping systems, duplicated workflows, and...
The Multifamily Operations Daily Huddle: Why Leadership Is Service
The article argues that leadership in multifamily operations should be rooted in service, exemplified by a VP who instinctively carries a coffee tray for his team. By removing obstacles, advocating for resources, and shielding staff from organizational friction, leaders create...
UK’s Leading Estate Agency Brand for New Instructions Revealed
eXp UK listed almost 7,500 properties in Q1 2026, the highest new‑instruction count among UK agency brands. The firm’s annual listings rose to 23,061 in 2025, averaging 5,765 per quarter, and Q1 2026 saw 7,494 new instructions and 3,696 exchanges. Its average...
NYC Class B/C Office Market Accelerates Lease Recovery, Prices Rise
New York City’s Class B and C office market is rebounding faster than expected, with leasing activity picking up and price per square foot climbing above $200. A $467 million tax‑abatement program spurring 84 office‑to‑residential conversions is a key catalyst, tightening...
SM Malls Defy Cost Surge with Stronger Sales
SM Prime Holdings reported that first‑quarter mall foot traffic in the Philippines held steady despite higher fuel prices, matching last year’s levels while sales rose to near double‑digit growth. Mall revenues jumped 8% to PHP20.4 billion (about $364 million), representing 61% of...
Record Seller Surplus Signals Falling US Home Prices
US home prices increased 0.7% over the last year, the slowest growth rate since June 2023. There are currently a record 46% more sellers than buyers nationally. Absent manipulation from the Federal Government/Reserve, prices will come down and homes will...
PulteGroup Hikes Incentives to 10.9%, $54.5K Bonus
Homebuilder PulteGroup pushes housing market incentives to 10.9%—that’s $54,500 on a $500,000 sale PulteGroup notes that its historically “normal” incentive range is between 3.0% and 3.5% Chart via @ResidentialClub
Spicerhaart Restructures Lettings
Spicerhaart’s lettings arm has launched a Centre of Excellence, a centralised support hub that handles administration and compliance for its property‑management portfolio. By off‑loading these back‑office tasks, local agents can devote more time to rent collection, repairs, property visits and...
Alto Rolls Out AI Tools for Agents
Alto, a SaaS platform serving roughly a third of UK estate agencies, has launched five AI-driven tools under the Alto Intelligence brand. Three capabilities—Alto Prospecting, Alto Lead Flow and Alto Smart Listings—are available immediately, with Alto IQ and AutoCert slated...
Buyer Enquiries Rebound as Well-Priced Homes Continue to Sell
Buyer enquiries in the UK have rebounded after Easter, driven by modestly falling mortgage rates and realistic pricing. Zoopla’s data shows the average time to sell a home increased by just one day year‑on‑year, indicating a stable market despite higher...
CRE Firms Install over 1 GW Solar Nationwide
Report: Commercial real estate companies have installed over 1 GW of solar across US #energysky -- via Solar Power World: https://t.co/SrqPPkAJ7L
Boston Completes First Office‑to‑Housing Conversion, Adding 15 Downtown Apartments
Boston finished its first office‑to‑housing conversion at 281 Franklin Street, creating 15 new downtown apartments. The project is the first under a city program that has approved 29 buildings and a pipeline of 1,730 units, aiming to ease office vacancy...
Property‑Management SaaS Becomes Core Real‑Estate Infrastructure
Industry analysts say property‑management software has moved beyond a convenience upgrade to become the backbone of real‑estate operations, linking rent collection, maintenance, leasing and reporting. The shift is driven by tenant expectations, owner demands and the need for financial visibility...
Public Storage Q1 Profit Jumps to $526M, EPS $2.71, Beating Forecasts
Public Storage (PSA) posted first‑quarter earnings of $526.27 million, or $2.71 per share, up from $407.79 million and $2.04 per share a year earlier. Revenue rose 2.5% to $1.21 billion, beating analysts’ expectations and highlighting the sector’s durability amid broader economic uncertainty.