Overview of real estate and construction news (06/01/22) | Pillsbury – Gravel2Gavel Construction and real estate law
Cybersecurity is becoming a growing concern when buying digital land, a major tax break in New York is set to expire, climate disclosure mandates in commercial real estate are on the horizon, and Moreover.
- New York State lawmakers are ready to allow a $1.7 billion property tax relief expires, prompting broad implications for property developers. (Bloomberg tax)
- Yield on adjustable rate mortgages as interest rates rise, but without very low interest rates or lax loan requirements. (Orla McCaffrey, The Wall Street Journal)
- As more and more investors flock to the metaverse to buy digital real estate, cyber attacks are on the rise, with hackers using phishing links that mimic legitimate platforms to empty digital wallets of assets. (Eamon Javers, Scott Zamost, Paige Tortorelli and Meghna Maharishi, CNBC)
- Ongoing supply chain delays and labor shortages are slowdown in apartment completions and openings. (Leslie Shaver, Diving under construction)
- Climate Disclosure Mandates investors in commercial real estate are poised to transform the industry and drive strong growth in the low-carbon market. (Diane Hoskins, Fortune)
- The recession in the Chinese real estate market is not only causing major problems for the country, but is expected to have a widespread effect on the global economy. (catch the news)