Housing Shortages and Immigration Booms Are Colliding
On today’s Big Take podcast: What happens when rapid immigration meets slow housing production.
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On today’s Big Take podcast: What happens when rapid immigration meets slow housing production.
Zillow Group Inc. shares fell after the real estate company published a second-quarter outlook that called for lower revenue in its core business and predicted stalling growth in the broader US housing market.
A new report from TD Economics says the federal government’s ambitious housing plan faces supply-side capacity constraints and demand measures that are not expected to have a significant impact.
An unprecedented contest is underway in Mexico over the future of one of the top beneficiaries of the factory boom south of the US border.
The Calgary Real Estate Board says April home sales were up 7.3 per cent from last year, driven by growth in the number of relatively more affordable, higher-density properties changing hands.
Apr 8, 2020
Bloomberg News
,(Bloomberg) -- Occupancy rates at U.S. hotels fell slightly to 22% in the week ending April 4, as social-distancing measures continued to batter travel companies.
The key industry metric fell below 20% in a majority of the 25 largest markets, according to lodging data firm STR.
With so few hotel guests, more properties are likely to close, according to a research note from SunTrust Robinson Humphrey.
“We assume the next shoe to drop will be further hotel closures where running sub 20% occupancy is unsustainable,” the note said.
Luxury hotels are taking a particularly hard hit as the pandemic shuts down travel. The occupancy rate at those properties was 5.5%, according to STR.
In New York, where owners have offered free or discounted rooms to doctors and nurses, occupancy rates increased to 18%.
©2020 Bloomberg L.P.