In places like Manhattan, where there are tons of obsolete office buildings prime for residential conversion, they are also seeing records broken and the pace for conversions is doubling this year.
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One of the main factors behind it is the record amounts of residential conversions of office space to residential use.
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Today back to office!! Finally, after hitting the price rock bottom, the office sector is back! The national vacancy rate is going down and significantly.
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Almost every bank in the U.S. is racing to close bank branches. On the other hand there is Regions, going against the grain and looking to open 150 branches. But they will be offset by closing others.
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Price pressure is on retailers superhard now, and no one feels it more than restaurants. 15% of them could close this year, which is a huge and stunning number.
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This is just getting silly now, Amazon has increased delivery speeds in some cases to 1 – 3 hours.
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Retail!! Florida and the Carolinas are leading the way for retail in the Southeast. Strong demographics are the answer, coupled with strong tourism demand.
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All you interest rate watchers are going to hate this. Given the high and persistent inflation, and a war restricting the flow of oil, interest rates will soon go up.
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These unemployment numbers are going to keep growing and the amount of jobs will continue to shrink. It would be great to see this being handled now before it gets completely out of control.
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These days it seems like every single company is laying off workers. How high is unemployment going to grow??
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Today is the right day to discuss the economy! All the talk about tourism going down in Florida might be true but it definitely is not the case in Palm Beach County, who just had a record breaking year.
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One thing we can really rely on AI for is surveillance. You can’t beat the quality for the price, anywhere.
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How can we stop AI fraud? Investors have bet $10 million dollars so far that hand palm scans can. We will soon find out!
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How many jobs will be lost to AI before politicians start doing something to protect people’s futures? Pretty soon the amount of people displaced by it will affect every country’s economy, if it hasn't already.
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Happy MonYAY!! Today is all about AI! AI is unpredictable and is capable of doing all kinds of things. An experimental Chinese AI “agent” started mining bitcoin without permission or programming. What is next??
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Congrats to former FAU Coach Dusty May for winning the nat'l championship!! Even tho he's an incredible coach, he's actually an even better person. It just shows u that good karma is real! Thanks 4 reading & have a GT weekend!
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This is very cool, an all-electric hospital in California! It is the first one in the U.S. but certainly won’t be the last.
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The Norton Museum in West Palm Beach just got the approval to expand 75% larger! Great news for art lovers!!
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Happy FriYAY!! Scientists are always trying to find new forms of energy and how to make it efficient. How about making hydrogen from food waste breadcrumbs? It is actually true!!
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These sorry looking inflation and labor stats, even though they have certainly beeen manipulated to look better than they truly are, add up to a 33% of a recession if we aren’t already there yet.
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What did I tell you about the unemployment numbers?? Had to be fixed. Now we have confirmation that they were in fact manipulated.
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But higher inflation statistics are not good for the economy so what to do? Change the data to make it appear as if it is lower than it truly is. I told you the numbers were being cooked now!!
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Today let’s look two things that are vital to the economy, statistics on inflation and labor. With war, trade tariffs, supply chain issues, and bad weather, prices are going up very quickly and so is inflation.
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At the same time, the same companies (Meta) are trying to replace human employees with AI as quickly as they can, further bringing costs down. Either way it is not good for human employees.
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The sheer cost that companies like Meta are spending on AI are forcing them to layoff employees to pay for it.
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Sooner than later someone is going to figure out (if they haven’t already) how to use AI to launch a cyberattack. If they attack satellites it could be a disaster.
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Today AI! AI can solve all kinds of issues, maybe even love? In China it is happening, and I bet in lots of other countries too. It is crazy, scary, makes no sense and yet it is happening.
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Even though market conditions were becoming more favorable with mortgage rates declining (now they are going up) and wages up, homebuyers are still exercising caution and holding off buying homes.
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Areas of South Florida that struggled to attract multifamily investment are now on fire, even in Riviera Beach as you can see here.
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But in South Florida, multifamily projects, mainly rentals, continue to get financing and are getting built.
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