Real Estate, Web3 and PropTech Dispatch from Propy

3 Real Estate News

Home Prices are Still Rising After All

Home prices are on the rise, defying expectations and setting a new trend in the housing market. According to a recent report from Goldman Sachs, major economies like the U.S. are experiencing this surge.

Previous surveys by Fannie Mae showed that 37% of consumers believed that home prices would drop over the next year, causing some hesitation in the market. But recent reports and indexes from Case-Shiller and the FHFA indicate that home prices are bouncing back from minimal depreciation. Here is what the numbers have to say:

Colorado is Facing a Housing Shortage

Colorado is facing a serious housing shortage, with hundreds of thousands of homes needed to meet residents’ needs. The Park Hill Golf Course in Denver recently became the battleground for the struggle over when and where to build new housing. Westside Investment Properties bought the defunct course for $24 million with a plan to develop 2,500 units, but voters rejected lifting an easement to allow it. This decision is surprising, as the same voters previously supported pro-housing candidates in elections. Despite the rejection, the firm will work to revitalize the golf course instead of chipping away at the 70,000-home deficit in Denver.

Palm Beach’s Deal this Month

Palm Beach’s history was made when a residential property sold for a whopping $170 million. The sale surpassed the previous record held by William Lauder, who had taken the crown from Scott Shleifer. However, the buyer was not from the typical industries associated with such purchases – Hollywood, Wall Street, or Silicon Valley. Rather, it was luxury car dealer Michael Cantanucci who made the purchase from Bob Stiller and his wife, Christine, for almost six times the amount they paid for the 1.6-acre property in 2014.

Web3 in 3 Min

Apple Reveals Reality Headset in 2024

After years of rumors, the tech giant has finally unveiled the Vision Pro – its groundbreaking augmented reality (AR) headset that bridges the gap between the physical and virtual worlds. With the potential to revolutionize how we entertain, work, and play, the slim ski goggle-like headset comes packed with external cameras that overlay digital content onto the real world. Imagine seeing interface windows, video screens, and 3D graphics floating around you in real-time. The highly-anticipated Vision Pro will be available starting in early 2024 and can be yours for the cool price of $3,499.

Circle Launches USDC on Arbitrum Network

Crypto payments company Circle is making waves by launching their US Dollar-backed stablecoin directly on the popular Arbitrum network. This scalable Ethereum solution already accounts for 65% of the total value locked on networks with faster transactions and lower fees, according to L2Beat. The benefits to users are significant: instead of locking USDC and minting USDC.e, users can burn USDC on the source chain, wait for Circle’s attestation and confirmation, and then easily mint new tokens on the destination chain.

PropTech News

Proptech Measurabl Raises $93M

Commercial real estate is taking major steps to combat global warming, and Measurabl is leading the charge. The global data management platform for property announced a $93 million Series D raise, signaling the urgency of these efforts. Measurabl plans to use the funding to further expand its cutting-edge environmental, social, and corporate governance (ESG) technology solutions, as well as form more global partnerships. This unprecedented investment highlights the growing concern within CRE about the climate crisis and Measurabl’s leading role in tackling it.

Blueground Acquires Nestpick

Blueground, a company that offers furnished rentals for extended stays, has made an exciting announcement. They’ve acquired Nestpick, a global platform aimed at those seeking monthly furnished housing. This acquisition marks the launch of Blueground’s private Partner Network, which will exclusively feature a select group of pre-approved, third-party furnished apartment providers and their impressive portfolios.