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Waiting for the Ball to Drop
April 21, 2021
Commercial real estate experts say a leasing boom is around the corner.
There is a quote regularly misattributed to evolutionary biologist Charles Darwin that goes: “It is not the strongest of the species that survives, nor the most intelligent, but the one that can best adapt to changes in its environment.”
The quote was actually spoken by Leon C. Megginson, a management and marketing professor at Louisiana State University. But it holds just as true for business as it does in the jungle.
For commercial real estate agencies, COVID-19 has meant a year of seismic shifts, and paying close attention to industries as they adapted, or failed to adapt, to the new economy.
COVID-19 Created the Hottest Real Estate Market Denver Has Ever Seen
We spoke to buyers, sellers, and real estate experts about how the pandemic set fire to an already-smoldering market.Elisabeth Kwak-Hefferan •
Feeding frenzy. Dogfight. Gold rush. Pick your favorite metaphor for the Colorado housing market these days: They all capture the intensity of an era that’s seeing more and more people swarming to buy fewer and fewer available homes, sparking bidding wars and pushing prices to record highs. From the pandemic’s beginning in late winter 2020 up through press time in early April, desperate buyers have been considering raiding their retirement accounts in an attempt to compete with cash offers. Modest homes that would’ve sat on the market for weeks or months in other years have been going under contract within hours of listing. Out-of-staters have been signing contracts before even seeing their new houses in person. And with buyers battling each other, those with p
Bozeman s Only Racially Diverse Neighborhood at Risk
Thanks in part to an influx of remote workers, the Montana town faces soaring housing costs and practically non-existent vacancy rates. March 4, 2021, 9am PST | Diana Ionescu |
When Montana State University decided to reallocate its family and graduate student housing to undergraduates, they may have dealt a fatal blow to what one professor calls Bozeman s only racially diverse neighborhood. The university-owned housing, writes Surya Milner in High Country News, was home to custodians, researchers and tenure-track professors at the university, many of whom are now forced to relocate to more expensive housing in other parts of the city or leave the city altogether.