Before we dive in, we wanted to share Best Ever CRE. A newsletter-friend of Briefcase’s with a great team of writers that love nerding out about CRE. It’s a sponsored plug, sure, but it’s also one of the few RE newsletters we subscribe to and read. Enjoy!

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💼 News Update

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💶 Euro Balloon Deflating: Eurozone inflation unexpectedly falls, strengthening the case for the European Central Bank to lower borrowing costs from record highs…We’re next right? RIGHT!? — Yahoo! Finance

🏦 Banks Need Real Estate Diet: US banks are expected to reduce their exposure to commercial real estate due to a $2tn "wall" of property debt maturing in the next three years — FT

🏠 Rates Slide: Mortgage rates dropped to 6.79% as fresh listings hit the market, providing more options for prospective homebuyers — Realtor.com

📈 But...: U.S. home prices hit a new record high in January 2024, with a nationwide increase of 6% from the previous year, marking the largest year-over-year increase since November 2022 — Realtor.com

💸 Funds Dwindling: California's mortgage relief program is running low on funds, and avocado toast — HW

🚶‍♂️ Rate Hike Moonwalk: Powell seems to backtrack on his December optimism for lower interest rates — MPA

📉 Proptech Freeze: VC investments in proptech have seen a significant decrease, with Q1 2024 figures showing a 12% year-over-year decrease and an almost 80% dip from Q1 2022 — CO

🏠 Market Shift? Some analysts predict a 20% drop in house prices due to aging homeowners and a lack of interest from younger generations — Realtor.com

🏢 Today, in “WTF!?”: Property insurance costs for apartments have risen by 129% since 2018, with a 27.7% increase in the year ending January 2024 — Globe St

📉 Rent Growth Meh: Despite a surge in apartment demand in Q1 2024, an even greater supply has led to stagnant rent growth and lower occupancy rates — RealPage

🙋‍♂️ Millennials Dominate: This group has surpassed baby boomers as the largest generation of home buyers, making up 38% of recent purchases — NAR

🤠 Do They Have Bigger Chips In Texas? Samsung plans to more than double its semiconductor investment in Texas to approximately $44B — WSJ

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