Sephora’s exit comes as European and US sanctions on the country have made operations in Russia increasingly complex. It joins Nike Inc. which also said last month that it was leaving Russia.

The Street asks if the U.S. is facing a housing crash similar to the one in 2008. California cities ban new gas stations, reports Los Angeles Times. These are among today’s must reads from around the commercial real estate industry.

The Real Deal analyzes donations from the real estate industry to New York Gov. Kathy Hochul. The National Association of Realtors' housing affordability index has reached its lowest level since 2006. These are among today’s must reads from around...

During the pandemic, this constrained, very expensive supply became supercharged, as more people than ever jockeyed for the few mansions that hit the market.

Hybrid debt from property developers is getting hit especially hard because it’s the first category to take losses.