Real Estate & Construction News Round-Up (07/06/22)

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The first real estate NFT minting, marketplace, and lending platform launches, New York office owners struggle under rising interest rates, an interactive Fortune map shows shifting U.S. housing inventory levels, and more.

  • Liquid Earth launched as the first platform to create an NFT representing ownership of real estate. (Digital Journal)
  • Britain’s construction industry slows building growth, delivering the weakest growth levels since September 2021. (Reed Landberg, Bloomberg)
  • Office property owners in New York struggle under rising interest rates. Paired with long term occupancy shifts resulting from remote work, the sector is projected to drop in value by 28% by 2029. (Holden Walter, The Real Deal)
  • China’s real estate market is past the worst of its slump, but experts project sales remaining depressed due a weak job market, a prolonged cash crunch and low confidence on housing prices. (Bloomberg)
  • Despite the multifamily industry’s openness to innovation, the pandemic inadvertently uncovered several ways in which rental tech is not being utilized to the fullest. (Levi Kelman, Forbes)
  • An interactive map published by Fortune shows shifting U.S. housing inventory levels as historically low mortgage rates rise to the highest rates since 2008. (Lance Lambert, Fortune)
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