This week’s round-up features Hurricane Ian’s effect on the construction labor pool, the Inflation Reduction Act’s projected impact on the real estate and construction industry, Europe’s real estate market, and more.
- The Inflation Reduction Act (IRA), designed to reduce the nation’s carbon footprint by jump-starting innovation and adoption of cleaner energy sources, also contains large segments aimed at real estate and construction. (Chava Gourarie, Commercial Observer)
- Damage caused by Hurricane Ian’s massive storm surge, flooding and winds is projected to hike demand for experienced construction workers. (Zachary Phillips, Construction Dive)
- According to the National Multifamily Housing Council’s monthly construction survey released Sept. 29, 2022, almost all developers are experiencing construction delays. (Paul Bergeron, Globest)
- Following Russia’s invasion of Ukraine, central banks in Europe facilitated a strict round of monetary tightening, resulting in an uncertain future for Europe’s decade-long real estate boom. (Jack Sidders, Bloomberg)
- A recent commercial property acquisition guide outlines several steps investors need to be aware of to avoid setbacks throughout the process. (Florian Monkam, Forbes)
- Chicago’s City Counsel passed a revised building code requiring warehouse roofs to be designed for installation of solar panels, among other energy efficiency and electrification standards. (Jack Rogers, Globest)
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