- CoStar takes action against meme account; fired employees allege retribution “The real estate data giant, which has come under fire recently for its allegedly draconian managerial style that is said to have included surveilling remote workers, is now seeking an injunction to stop an ex-employee from mocking the company on social media.” (The Real Deal)
- Retailers Struggling to Keep Up with Shifting Consumer Desires “As shoppers are moving away from spending on casual clothing and home items that became staples during the height of the COVID-19 pandemic, some retailers are finding themselves overstocked with joggers, activewear, fleece and other goods they had expected shoppers to scoop up.” (PYMNTS.com)
- Real estate industry accounted for 16.9% of GDP in 2021 “According to estimates from NAR, nationwide, each home sale at the median generated roughly $113,000 of economic impact in 2021. Commissions, fees, moving expenses, and other income to real estate industries was responsible for an estimated $31,742 of the total impact, with the rest comprised of $5,000 from expenditures related to the home purchase, $17,636 from a multiplier of housing related expenditures, and $58,781 from new home construction.” (Real Trends)
- Amazon heads to court to defend against allegations of unfair labor practices on Staten Island “Amazon is accused of violating federal labor law in its efforts to discourage employees from forming a union. Among the tactics at issue are allegations that Amazon threatened workers, confiscated union literature and fired an organizer.” (Gothamist.com)
- Hilton Hotel to Reopen After Sale, Accelerating Times Square Comeback “But recently, there have been signs of life stirring in Times Square. Investors and developers are banking even more on tourism and entertainment venues while the district’s offices remain mostly empty during the day. Attendance at Broadway shows is closing in on prepandemic levels and some hotels are filling up again.” (The Wall Street Journal)
- How companies are shifting their office spend to lure reluctant workers back “For many companies that means retrofitting offices to meet this new normal and employee demands, while also investing in other tools to make sure connections are still being made efficiently – efforts that could mean spending more money even if square footage or leases are adjusted.” (CNBC)
- Lawmakers move to ease hotel conversions “State legislators handed the mayor a win on that front last week, approving a measure to relax certain zoning and building code requirements that have been serious logistical and financial hurdles to successful conversions. Adams said in a statement Friday the legislation ‘will deliver much needed relief to our homelessness crisis.’” (Politico)
- LeSean McCoy on Getting Started in Real Estate Investing “LeSean McCoy is a former NFL player who now focuses on real estate investing, affordable housing development, and mentoring youth. LeSean McCoy and his girlfriend are focused on acquiring new properties in Harrisburg, PA and in the following article they explain how to get started in real estate investing.” (CCNJDaily)
- Real estate agents got $3.9 billion in Covid relief PPP loans. The housing market boomed, but few repaid the loans. “The federal government authorized more than 300,000 loans to real estate entities claiming just one employee, adding up to $3.9 billion in Paycheck Protection Program (PPP) loans backed by the U.S. Small Business Administration, according to data from the government’s Pandemic Response Accountability Committee (PRAC), which oversees pandemic relief spending.” (CNBC)
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