A Signal Of Return Of Multifamily Market In The Midwest
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The Rise Of Prefabricated House
Amid the rise of construction costs and housing shortage, the tiny and prefabricated house has returned and became a potential alternative building with cost and time savings. Before diving into its development and the possibility of solving the affordability issue, let’s look at its development history.
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Coastal Market
As the hospitality industry starts to see an increase in occupancy (OCC) and in the average daily rate (ADR), some markets than others have been able to maintain their hotel demand. The coastal markets in California, such as Monterey, Marina and Salinas, have been able to see a steady increase in occupancy and ADR. These cities still see demand in the market due to the different segments that are thriving through the pandemic.
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Unprecedented Surge in Hotel Prices including Miami, LA, and New York
Hotel prices in Miami, LA, and New York have increased dramatically. Let’s take a look at how they have grown over the past years.
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