Curated daily by our industry experts. Stay informed on how tech is shaping the real estate industry with these important headlines.
Crunchbase
Coming off a staggering bull run, the U.S. residential real estate market is still holding up at high levels. Even so, market watchers see the combination of higher mortgage rates and diminishing affordability likely signaling a close to the era of fast-rising prices.
TheRealDeal
Tenants have something in common at Common Living’s communal spaces: nightmarish experiences, according to a published report. More than a dozen tenants went on the record to describe their experiences at Common buildings across the country, the Daily Beast reported. Alleged issues include unaddressed vomit, fighting roommates, poor communication, lengthy maintenance delays and lax security.
Bisnow
The few dozen steps spanning the length of a new studio unit at Domain Heights incorporate a veritable check, check, check of what developers have billed as the amenity-heavy future of apartment living.
TechCrunch
Shopify put a spotlight on the role and significance of logistics and fulfillment in e-commerce when it snapped up Deliverr for $2.1 billion last week to gain its own, direct foothold into providing those services for its e-commerce customers a la Amazon. Now, an up-and-coming startup in fulfillment in Europe has closed a round of funding to fuel its own growth. Byrd, which is building a network of operations providing warehousing, delivery services and software for its e-commerce customers to m…
The Wall Street Journal
IKEA is to invest €3 billion, about $3.16 billion, in opening city-center stores and outfitting existing big-box locations to act as distribution hubs for online orders as the furniture giant looks to adapt to changing shopping habits.
BetaKit
In the last two years, BetaKit has reported on massive #CDNtech funding rounds leading to billion-dollar valuations. Here’s an interview with the Canadian VC who says those numbers are meaningless.
TIME
Airbnb CEO Brian Chesky recently announced that the company’s employees will be able to work from anywhere, including (for up to three months) overseas. He also abolished location -based pay, at least within the U.S. In the days following the announcement, Airbnb’s recruiting page received a million visitors. The company, which laid off a quarter of its staff during the pandemic, also released first quarter earnings that closely matched pre-pandemic levels.
The Wall Street Journal
Companies throughout the U.S. are flooding the market with office space they want to sublease, aggravating landlords already facing weak demand as more tenants embrace hybrid work.
GlobeSt
Flexible office space is coming back into the fold. After a rocky year leading up to the pandemic, flexible office space is once again spiking in popularity with the growing prevalence for remote and hybrid work, In short, it is becoming an important part of an office portfolio.
First American
In April, First American Chief Innovation Officer Paul Hurst participated in a panel discussion at Inman Connect in New York, discussing the shifting capital environment for public and private proptech companies. Hurst offers some highlights from the panel discussion, discusses what the re-rating of proptech valuations means for the pace of real estate innovation in 2022, and shares insights from his conversations with other leading real estate innovators at the conference.
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