💼 News Update

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🌃 Young Blood: Brookfield CEO Bruce Flatt has chosen his successor, a 36-year-old, setting the stage for a new era in the company’s leadership — Bisnow

🤑 Payment Processing: The Federal Housing Finance Agency (FHFA) announced three policy changes effective for all new loans, aiming to protect tenants and streamline processes — NAHB

🏠 Eviction Escalation: Tenant evictions remain elevated in several corners of the U.S., showing little sign of decreasing anytime soon — WSJ

💰 Homebuyers Rejoice: Housing inventory has increased by almost 40% over the last year, providing more options and potentially better deals for homebuyers — HousingWire

📉 Sellers Slashing: As home listings rise and buyers retreat, sellers are cutting prices to attract buyers amid high costs and slowed sales — Zillow

🏠 Mortgage Relief, Buyer Hesitation: Despite mortgage rates dropping to their lowest since February and average payments decreasing by $115, homebuyers remain cautious, leading to the largest decline in pending sales in eight months — Redfin

🛒 Retail Revival: The retail vacancy rate dropped to 5.3% in 2Q24, the lowest in 20 years, signaling a strong recovery in the retail real estate sector — CRE Daily

🏘️ Dallas Inflation Drama: Dallas has the highest inflation rate in Texas, making it one of the worst-hit cities in the U.S. for rising prices — CNBC

😃 Best Cities for Renters: Charleston, S.C., tops the list of best U.S. cities for renters due to its low cost of living, quality schools, and abundant green spaces — NY Times

🌇 Antitrust Action: The Justice Department plans to tackle more antitrust issues in the real estate market, aiming to curb inflation and protect consumers — Multifamily Dive

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