Economists now argue that baby boomers - the people who rocked at Woodstock and were active in campus protests - who used to take out mortgages and buy lots of real estate are not downsizing fast enough and aren't putting their houses for sale as earlier generations did. As they refuse to move, it contributes to inventory shortages and an increase in prices, Chicago Tribune reports.
New tougher procedures for foreign property investment in Australia takes effect this week. It was in May that the Australian government announced that Foreigners who have brought property legally only have until the end of November to voluntarily disclose ownership.
New York-based residential leasing and marketing platform Nestio acquired an $8-million funding in the Series A round that was led by venture capital firm, Trinity Ventures.
Last Tuesday (December 1), the Australian government tightened their foreign property investment rules. Those who breach such laws now face tougher penalties. Likewise, the Australian Taxation Office dispatched a team of 50 compliance officers to investigate potential offenders.
The Perot Company Hillwood Investment Properties has announced that it has acquired a 200,000 square feet class A distribution center in Northeast Dallas through its U.S. Industrial Fund II.
The higher-ups of the Two Bunch Palms Spa Resort has announced that the 75-year old resort will now be under the ownership of the Southern California-based company, CCL Holdings.
A modern and ultra skinny home in New Orleans is listed in the market for $375,000. There are a lot of Americans who are downsizing. It has been reported that tiny houses are trending up because it offer affordability given that it is cost effective, convenience, environmental friendly and most of it majority of the residents own it.