Global Housing Shortages Are Crushing Immigration-Fueled Growth
Households go backwards in 13 developed economies as record immigration runs into a housing crisis.
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Households go backwards in 13 developed economies as record immigration runs into a housing crisis.
Australia’s central bank will likely keep its key interest rate at a 12-year high and stick with it for much of the year to restrain inflationary pressures underpinned by a surprisingly tight job market.
Bond traders welcomed their first clear sign of a cooling US labor market, but it’s only a part of what’s needed to fire up the truly sweeping rally they’ve been hoping for all year.
It’s an oft-told anecdote littering social media: Those who invested early in cryptocurrencies have enjoyed life-changing wealth.
Australia’s housing rental value hit a fresh record in April with some cities seeing renewed growth momentum, a troubling sign for the Reserve Bank that’s likely to leave borrowing costs at a 12-year high this week to stave off price pressures.
Feb 4, 2022
Bloomberg News
,(Bloomberg) -- Related Cos., the developer behind the Hudson Yards project, has found potential tenants for the former Manhattan home of Neiman Marcus, which is being converted into offices after the luxury retailer shuttered the store.
The widespread embrace of hybrid work has cast a cloud over the future of offices, which emptied again in recent weeks as the omircon variant swept New York.
Still, there’s plenty of demand at Hudson Yards, particularly from firms that have space there and want to expand, Jeff Blau, Related’s chief executive officer, said in an interview with Bloomberg Television’s David Westin on “Wall Street Week.”
The interest in the former Neiman store comes as more Manhattan companies plan to bring workers back this month, according to Blau.
“Companies are thinking forward beyond that full return to the office, and making the decision to take even more space,” he said. “We’re feeling pretty optimistic about the office side.”
The luxury mall at Hudson Yards opened to much fanfare in March 2019. Just over a year later, Neiman announced it would permanently close the store, its first in Manhattan.
Other highlights from the Blau interview:
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