Dodge Momentum Index registered an increase in planning for commercial building in December 2022. Multifamily owners in Los Angeles would like to sell their properties, but the offers they are getting aren’t matching expectations, reports Bisnow.

Both cities ended 2022 with a rising supply of space and leasing demand still far below historical averages, according to reports this week from brokerage CBRE Group Inc. In San Francisco, the office-vacancy rate soared to a record 27.6%, compared...

“There is no denying that climate change is driving losses from natural catastrophes,” Ernst Rauch, chief climate scientist at Munich Re, said in an interview. “Insured losses of more than $100 billion a year are the new normal.”