Open and transparent government can benefit Virginia’s people and commerce. An effort is underway (U.S. Sup. Ct. Dkt. No. 22-308) aimed at safeguarding the Virginia Freedom of Information Act (“VFOIA”). According to the Reporters Committee for Freedom of the Press, … Continue reading →
The following is from a Congressional Budget Office (“CBO”) letter dated August 4, 2022: “In calendar year 2022, enacting the bill would have a negligible effect on inflation, in CBO’s assessment. In calendar year 2023, inflation would probably be between … Continue reading →
Total U.S. construction starts fell by five percent in June to a seasonally adjusted annual rate of $932.3 billion, with nonresidential building starts declining 14 percent and residential starts declining six percent, according to Dodge Construction Network. Year-to-date, total construction … Continue reading →
The DFW Metroplex ranked as the number one U.S. market in CRE sales during H1–2022, according to The Real Deal (citing data from MSCI). DFW metroplex sales totaled $22.9 billion during H1–2022 followed by Los Angeles ($15.5 billion). Nationwide, a … Continue reading →
Mexico’s nationwide house price index rose by 0.41 percent in Q1–2022 from a year earlier, according to Global Property Guide. For comparison, the year-over-year growth in Q1–2021 was 2.5 percent. Between 2016 and 2021, real house prices in Mexico increased … Continue reading →
CRE analytics firm Green Street reports that its Commercial Property Price Index declined by 3.7 percent in June. Among its sector-level indexes, “Strip Retail” and “Net Lease” showed the biggest declines (-7 percent) over the past month, whereas the “Health … Continue reading →
The amount of cash held by U.S. companies has increased from $1.6 trillion in 2000 to about $5.8 trillion in 2022, according to the Kellogg School of Management. Thirteen non-financial companies in the S&P 500, including Apple, Alphabet and Microsoft, … Continue reading →
Shanghai-based real estate developer Shimao Group Holdings Ltd. has missed the interest and principal payment of a $1.02 billion offshore bond due on Sunday, according to Reuters. This was the first missed public offshore payment for Shimao, which has an … Continue reading →
The legal industry is returning to the office at higher rates than other businesses, according to research from Kastle. In metropolitan Chicago, legal office usage is at 86 percent of pre-pandemic levels compared with 41.9 percent for all industries. Nationally, … Continue reading →
Average house prices in the UK increased by 12.4 percent to £281,000 ($344,097) over the year ending April 2022, according to the UK Office for National Statistics. Among the countries that comprise the UK, England has the highest average house … Continue reading →