Michael Gerrity, Founder & CEO - WORLD PROPERTY JOURNAL™
Besides running the day to day operations of the WORLD PROPERTY JOURNAL, Mr. Gerrity has also served on several Boards over the last decade that include the Central Florida Technology Partnership's Digital Media Advisory Board, City of Orlando’s Technology Board, The Economic Development Commission’s Film & Television Board and he is a founding Board Member of Digital Media Alliance Florida - a statewide digital media industry association. In addition he is a member of the National Association of Real Estate Editors (NAREE).
As founder and CEO of the WORLD PROPERTY JOURNAL, Mr. Gerrity has also been interviewed over the last few years by numerous local and national news media organizations that include NBC Nightly News with Brian Williams, NBC Today Show, TIME Magazine, Orlando Sentinel, Orlando Business Journal, The New York Times, Palm Beach Post and Florida Trend Magazine. Mr. Gerrity was also awarded the prestigious "40 under 40" Entrepreneur Achievement Award of Central Florida from the Orlando Business Journal in 2000.
According to JLL's latest Residential Sales Market Monitor released this week, Hong Kong's private residential completed are forecasted to climb 52% from an average of 14,500 flats per year over the last four years to an average of 22,000 flats per year between 2018 and 2021.
U.S. homeowners with mortgages (roughly 63 percent of all homeowners) have collectively seen their equity increase 11.8 percent year over year, representing a gain of $870.6 billion since Q3 2016.
A total of 86,242 homes in Ventura and Los Angeles counties with a combined reconstruction cost value (RCV) of $27.7 billion are at some level of risk from the Thomas, Rye and Creek Wildfires.
The market with the most expensive premium office rent in the world is Central in Hong Kong (€323 per sq. ft) followed by New York's Midtown ($194 per sq. ft).
According to JLL, for the second consecutive year, Hong Kong's Central commands the world's most expensive premium office rent, at an average of $323 per sq. ft per annum (about HKD210 per sq. ft per month).
Global real estate consultant Knight Frank is reporting this week that office take-up in Milan is set to reach 330,000 square meter in 2017, making it the second strongest year on record.
According to Zillow, rising U.S. housing rents are eating up an increasingly large share of American incomes, costing the typical renter $2,000 per year.
Madrid's occupational market has seen a particularly buoyant period, with the first nine months of 2017 registering the strongest office occupier activity in a decade.
Shopping centers of the future will become just 'centers' by reinventing themselves as mixed-use destinations and adding healthcare, educational and leisure uses.
According to JLL's latest Property Market Monitor released this week, net take-up in Hong Kong's overall office market amounted to 155,600 sq. ft. in October 2017, helping edge rents 0.3%.
pending U.S. home sales rebounded strongly in October 2017 following three straight months of diminishing activity, but still continued their recent slide of falling behind year ago levels. All major regions except for the West saw an increase in contract signings last month.
U.S. housing inventory constraints have fueled a sharp rise in prices and made it difficult for buyers to gain a foothold in the market. But that is expected to change next year as part of broader and continued housing market improvements.
The National Association of Home Builders is reporting this week that their latest Multifamily Production Index dropped 10 points to 46 in the third quarter of 2017. This is the lowest reading since the second quarter of 2011.
According to global property consultant Knight Frank, Prague was Central Eastern Europe's top performer for office investment in the first nine months of 2017, with a total of €746 million ($888 million USD) worth of assets transacted over this period.
Total European hotel investment volumes increased by 33% year-on-year, for the third quarter of 2017. This contributed to a 16% year-on-year increase on the year- to-date.
The American Automobile Association (AAA) is estimating that 50.9 million Americans will journey 50 miles or more away from home this Thanksgiving, a 3.3 percent increase over last year.
According to Transwestern's Third-Quarter 2017 Office Market Report, after decades of stagnation, asking rents for office space in New Jersey are steadily rising and nearing an all-time high.
California's home sales lost momentum in October 2017 to post the first back-to-back annual sales decline in more than a year as a stubbornly low supply of available homes for sale continued to plague the market.
The retail industry of 2030 will provide tailored experiences for individual customers across any channel, at any place and at any time using data analytics and new technology. These changes will have a profound impact on the global retail property sector as well.
NAHB chairman Granger MacDonald issued the following statement on the House passage of The Tax Cuts and Jobs Act today: