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10 Must Reads for the CRE Industry Today (March 23, 2018)

The former founder and CEO of Uber Travis Kalanick has a new venture acquiring distressed real estate, according to New York Magazine. President Donald Trump hit China with trade tariffs but exempted U.S. allies from the previously announced steel and aluminum tariffs, reports The New York Times. These are among today’s must reads from around the commercial real estate industry.

  1. Trump Hits China With Trade Measures as White House Exempts Allies From Tariffs “President Trump said he would impose about $60 billion worth of annual tariffs on Chinese imports on Thursday as the White House moved to punish China for what it says is a pattern of co-opting American technology and trade secrets and robbing companies of jobs and billions of dollars in revenue.” (The New York Times)
  2. Travis Kalanick Is Back, and He’s Buying Distressed Real Estate “Travis Kalanick, the founder and former CEO of Uber, has a new venture. In a brief statement on Twitter yesterday, Kalanick unveiled the 10100 Fund (pronounced “ten one hundred”). Kalanick has apparently been busy since he was forced out of Uber after widespread reports of toxicity, reckless behavior, and sexual harassment at the company surfaced.” (New York Magazine)
  3. Skyline AI Raises $3M From Sequoia Capital to Help Real Estate Investors Make Better DecisionsSkyline AI, an Israeli startup that uses machine learning to help real estate investors identify promising properties, announced today that it has raised $3 million in seed funding from Sequoia Capital. The round will be used to build its tech platform and hire experts in data science and machine learning.” (TechCrunch)
  4. Rents Are Rising at the Fastest Pace in Almost Two Years “The critical housing shortage is now taking its toll on renters. Potential buyers are having an increasingly difficult time finding a home they can afford, so they are renting longer.” (CNBC)
  5. Fed’s Powell Seeks ‘Middle Ground,’ But Others on FOMC Push Aggressive Approach “The Federal Reserve is sticking to a cautious strategy on raising rates in 2018, but some officials left scattered hints they are more worried about rising inflation than the central bank let on.” (MarketWatch)
  6. Fed’s Mission Improbable: Lift Unemployment—but Avoid Recession “The Federal Reserve is attempting in the next few years something it has never accomplished before: guide unemployment up without causing a recession. It faces high odds of failure—and little alternative path.” (Wall Street Journal, subscription required)
  7. Michaels to Close All Aaron Brothers Stores in Brand Repositioning “The Michaels Companies is pulling the plug on its freestanding stores devoted to framing, wall art and other art supplies.” (Chain Store Age)
  8. Is Now the Time for Multifamily Owners to Sell? “Potential sellers in the Midwest have taken a step back and hesitated to put their properties on the market.” (GlobeSt.com)
  9. Economy Watch: Architecture Billings Growth Modest in February “The news from the AIA comes as the Federal Open Market Committee raised interest rates, effectively increasing the cost of money.” (Commercial Property Executive)
  10. NYC Renters Care More About Price Than Location: Study “The mantra in real estate has always been location, location, location, but a more accurate phrase in New York might be price, price, price, according to a new survey.” (The Real Deal)
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