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The Great Real Estate Reset Business as usual in the real estate industry is failing the economy and the political and social cohesion of the United States, according to a new initiative launched by the Brookings Institution. February 3, 2021, 12pm PST | James Brasuell | Christopher Coes, Jennifer S. Vey, and Tracy Hadden Loh write to announce a new initiative at the Brooking Institution called the Great Real Estate Reset, anticipating that the U.S. real estate industry is overdue for its next reset the first since the subprime mortgage crisis of the Great Recession. Another understanding driving the initiative is the defining role of real estate in the American economy. It is by far the largest asset class in the United States, comprising over 40% of private assets nationally, followed by bonds, stocks, and cash, according to the article. ....
40 Free Street under construction in Portland, Maine. Image by Corey Templeton licensed under Creative Commons. American households are changing, but our housing supply isn’t caught up with the times. Is Pete Buttigieg a good pick for Transportation Secretary? What will the future of parking and street space look like? A great real estate reset is needed: A new report from Brookings and Smart Growth America takes a look at housing trends and needs in a five-part series that includes discussions on persistent segregation, changing family dynamics and housing types, destabilized housing markets and risky transactions, as well as a reimagination of office space and retail. (Evan Farrar and Tracy Hadden Loh | Brookings) ....