- A third of small retailers can’t pay rent as financial struggles spike again “The share of small retail businesses that couldn’t make rent rose to 34% in April, up six percentage points from February, according to survey data from Alignable.” (Retail Dive)
- Smart Office Buildings Can Help Sniff Out Viruses but Are Vulnerable to Hacks “Commercial buildings have used software to control some mechanical and electrical systems since the 1980s, but for decades the sector saw little innovation, said Arie Barendrecht, chief executive of WiredScore, which runs a certification system for smart buildings.” (The Wall Street Journal)
- KKR leans on infrastructure and real estate as it swings to Q1 net loss “In the first quarter, the value of KKR’s real-assets funds—which include infrastructure and real-estate investments—rose, which helped offset write-downs of its private-equity and credit holdings, the New York firm said Tuesday.” (Private Equity News)
- Many homeless people resist group shelters even as L.A. mayoral candidates push to build more “New research from the Rand Corp. suggests that the type of shelters that could end up being the centerpiece of multiple candidates’ homeless plans is not homeless people’s preferred destination. Fewer than a third of those surveyed in Hollywood, skid row and Venice said ‘group shelter’ was an acceptable housing option.” (Los Angeles Times)
- Looming Rent Increase of Up to 9 Percent Tests Adams’s Housing Priorities “The powerful Rent Guidelines Board, which the mayor effectively controls, will take a preliminary vote on Thursday on proposed rent increases of 2.7 to 4.5 percent on one-year leases and 4.3 to 9 percent on two-year leases. A final vote is expected in June.” (The New York Times)
- At an annual gathering of wealth and influence in Beverly Hills, some of real-estate's most powerful players preached caution ahead of the Fed's interest rate hikes “As home prices continue to rise, there have been growing concerns of a housing bubble that could burst, especially if economic growth slows. There are at least two good reasons why today's high prices don't signify a bubble, but even revered Federal Reserve researchers are pointing to data that suggests excessive froth in the market.” (Insider)
- American Consumers Are Shopping, Traveling and Working Out Like It’s 2019 “Other consumers and many parts of the country returned to normal months or even a year ago. Attendance at college football games was robust last fall. Ohio, Michigan, Texas, South Carolina and Massachusetts all dropped mask requirements in schools late last year.” (The Wall Street Journal)
- Adams taps former GOP Council member as buildings chief “Ulrich had been serving as a senior adviser to the mayor and was term-limited out of the Council last year. Adams also tapped Kazimir Vilenchik, to serve as the department’s first deputy commissioner, who’d served as a deputy borough commissioner and a borough commissioner for the buildings department for more than a decade.” (Gothamist)
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