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Top Headlines: Delivered by Leonard Steinberg

October 01, 2024

01  Do you live in a SPONGE CITY? Sponge city refers to a town, suburb or city’s ability to absorb water instead of allowing it to run off. As urban sprawl covers more surfaces with solid materials like asphalt and concrete, and density grows in many areas, extreme downpours can result in flooding. Environments with landscaping and surfaces that absorb water can reduce the chances of flooding.

(FT)

02  "Everything she created was customised for us – the sofa, the chairs, all the details were personalised. So now I can say I have a made-to-measure house. It was just like having a made-to-measure suit – she really stitched the house around our body."

– Giuseppe Santoni (FT)

03  AMAZON occupies more than 65 million square feet in more than 60 countries today....less than a quarter of WALMART whose International’s sales area amounted to about 273 million square feet as of 2023.

04  Buying a home with friends? The number of co-buyers with different last names hit a record in data going back a decade in 2021. It fell 29.5% over the following two years. When buying a home with friends a very clear, bold ‘prenup’ could be essential!

(ATTOM)

05  With prices down 19% from a peak in 2022, the commercial-property market is starting to come to life. In part, that’s because lenders and owners want to cut their losses and make new investments now that the Federal Reserve’s first rate cut in four years is bringing some clarity on where valuations stand. Commercial real estate prices rose 3% this year but are 19% below 2022 peak. Multiple bids are also emerging on debt....

(Bloomberg)