Office vacancy rates are on the rise, 3D printing technology will be used to build a portfolio of affordable homes, resources from the Biden Administration’s Infrastructure Bill are projected to speed up the creation of “smart cities,” and more.
- More than two years after COVID-19 shifted the world of work, office vacancy rates in the U.S. have risen from 9.7% to 12.2%. (Axios)
- With popular social media sites increasing their spend on paid advertising year-over-year, apartment marketers and communities plan to use these platforms for more direct selling (leases) to prospective residents. (Paul Bergeron, Globe St.)
- Starfleet Innotech, a global asset management company, recently announced plans to use construction start-up Luyten’s 3D printing technology to build a portfolio of affordable homes in the Philippines. (Paul Hanaphy, 3D Printing Industry)
- Over the past 12 weeks, mortgage rates have posted their largest jump since the ’90s, with the average 30-year fixed mortgage rate standing at 4.42%—up from 3.11% in December. (Lance Lambert, Fortune)
- The Infrastructure Investment and Jobs Act (IIJA) offers financial resources, such as the Strengthening Mobility and Revolutionizing Transportation (SMART) grant program, that could help facilitate the creation of smart cities. (Rose Morrison, GEO Week News)
- High prices of virtual real estate plots have pushed interested buyers into creating decentralized autonomous organizations (DAOs), forming collective ownership over a property. (Matthew Smith, IEEE Spectrum)