Spotlight
Market Update | June 06
Jon Granston | June 6, 2024
Jon Granston | June 6, 2024
Top Headlines: Delivered by Leonard Steinberg
June 06, 2024
01 Are homes in Tennessee, Alabama, South Carolina, Montana and Arkansas overvalued? A new report published by Fitch Ratings found that homes were overvalued by 11.1% at the end of 2023, a trend occurring in about 90% of U.S. metro areas
(FOX Business)
– Scott Galloway
03 Roughly 18,000 single-family, built-for-rent homes were started during the first quarter, a 20% increase from the first quarter of 2023.
(CNBC)
04 Prime property prices — defined as the top 5% of the market — fell more than 2% in New York and London in the first quarter compared to the same period a year ago, while in Manila, Tokyo and Mumbai, luxury home prices surged, gaining 27%, 13% and 12%, respectively. Miami was up 7% and San Francisco up 2%.
(Bloomberg)
05 The next Industrial Revolution has begun with businesses and countries converting existing data centers into “A.I. factories.
– Jensen Huang, CEO Nvidia.
Building the infrastructure to drive A.I. - aside from the productivity benefits of A.I. - may result in an unprecedented economic boom. (CNBC)
