Ranked: The 10 Best U.S. States to Retire In

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Headwinds Turning to Tailwinds in Hospitality Market link

• The hospitality sector is showing signs of recovery, with key metrics such as RevPAR (revenue per available room) increasing across many markets. This is driven by both an uptick in travel demand and an easing of labor shortages in the industry.

• Hotels in major metropolitan areas like New York, Miami, and Los Angeles are benefiting from increased occupancy rates. Markets with strong tourism appeal are seeing double-digit growth in room rates compared to last year.

• Investment in the sector is ramping up as capital availability improves and long-term prospects look favorable. Major players are starting to deploy resources into renovations and acquisitions, banking on sustained recovery into 2025.

Baby Boomer retirements squeezed by rising home insurance costs link

• Rising home insurance premiums are putting a strain on Baby Boomers’ retirement plans, particularly in states like Florida, Texas, and California, where natural disasters are driving up costs.

• Many retirees are being forced to reconsider their budgets, with some even contemplating selling their homes to manage the financial pressure caused by these insurance hikes.

• The increasing frequency and severity of climate-related events are expected to continue pushing insurance costs higher, further complicating retirement planning for this generation.

Halfway through 2024, luxury RE looks stronger than in 2023 link

• The luxury real estate market in 2024 is outpacing 2023, driven by strong buyer demand and limited inventory. This has led to price increases, particularly in prime locations.

• The cities of Miami, Los Angeles, and New York are among the top performers, with significant growth in luxury home sales. Miami's market is especially robust due to high demand from out-of-state buyers.

• Economic stability and sustained low-interest rates have fueled confidence in the high-end market, leading to a competitive environment. Buyers are moving quickly, often bidding above the asking price.

Starter Homes Make a Comeback as Market Warms for First-Time Buyers link

• First-time homebuyers are benefiting as the housing market begins to cool, with starter homes becoming more accessible. This trend marks a shift after years of being priced out of the market due to rapid appreciation.

• Smaller, more affordable homes are seeing renewed interest as high mortgage rates and inflation make larger properties less attainable. Builders are responding by constructing more of these entry-level homes.

• Key markets witnessing this trend include cities like Atlanta, Dallas, and Phoenix, where starter homes are increasingly in demand as buyers seek affordability.

New Jersey’s Industrial Market Shows Bright Spots Link

• New Jersey's industrial construction pipeline expanded fourfold year-over-year, with 6.4 million square feet underway, representing 1.1% of the market's total inventory.

• Despite a strong pipeline, only 4.8 million square feet of industrial space were completed in the first half of 2024, nearly half of what was delivered during the same period last year.

• The market saw $1.1 billion in sales, making it one of the most expensive U.S. metros for industrial real estate at $256 per square foot, though this is a 30% drop in sales volume from the previous year.

Ranked: The 10 Best U.S. States to Retire In →

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Anyone say Vampire?

Link to the listing

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Vidit

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