Silicon Valley Real Estate Market News 3-23-2023
Here's the weekly round-up of news. Check it out, save it for later, and/or share it with your friends.
6 books that will change your perspective on real estate These titles will inspire your business no matter where you are in your career. Full Story: REALTOR® Magazine/Culture Scan
Released inmates often find rent is out of reach Finding housing is a difficult challenge for those who have served time, with many ending up in homeless shelters upon release. Being priced out of the rental market can lead some to return to lives of crime, experts say. Full Story: The New York Times
Bank stress raises concerns in agency mortgage bond market Concerns are rising that the $8 trillion agency mortgage bond market might come under strain as a result of increasing interest rates and the possibility that holdings from Silicon Valley Bank and other regional banks could be sold, increasing supply. Franklin Templeton's Paul Varunok noted that the market is deep enough to handle large liquidations, but he noted that further stress in the banking system could add to volatility. Full Story: The Wall Street Journal
State measure aims to reduce underinsurance of properties Legislation introduced in Colorado would includes provisions such as making extended property replacement coverage mandatory in light of underinsurance concerns after a deadly late-2021 wildfire destroyed about 1,100 structures near Boulder. The bill also includes a provision designed to help coverage keep pace with inflation, and it would mandate a yearly state report on home-rebuilding costs based on location. Full Story: PropertyCasualty360
Home prices end a decade of surges as sales rebound
Prices fell in February for the first time in 131 months, which could bring more buyers to the market just in time for spring, according to NAR's latest housing report. Full Story: REALTOR® Magazine
Old Wall Street building turns into swanky apartments You've probably heard about how commercial real estate executives are trying to reinvent the industry to keep pace with post-pandemic office trends. The owners of One Wall Street, which was originally opened in 1931, decided to reinvent their building. The results are stunning. It's almost hard to believe an outside that looks so old on the outside could look so new on the inside. Full Story: Dezeen (3/19)
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