Opinion: The market is not in freefall (and this is why) | Company reinvention starts with employees | Why companies need a 'living strategy' to compete
Created for newsletter@newslettercollector.com | Web Version
Financial Resources Available Through NAR The Center for REALTOR® Financial Wellness platform is designed to meet the specific financial planning needs of REALTORS®. It provides financial audits for both personal and business, a guide to managing volatile market shifts, budget tools, webinars and more. Encourage your agents to start planning today!
Business transformation requires a holistic company view and puts people first by letting go of toxic employees, modernizing the leadership structure and nurturing those leaders, writes Noelle Federico, CEO of Delta Hire. "Whatever challenge is at the forefront, leaders who approach an obstacle as an opportunity and create a strategy to find a solution tend to be the most effective," Federico writes. Full Story: Forbes (tiered subscription model) (10/4)
Why companies need a 'living strategy' to compete Companies need a "living strategy" that is flexible enough to weather current market unpredictability and provide leaders the opportunity to make adjustments, writes Michael Mankins, author and a partner at Bain & Co. "The bottom line: strategies must be dynamic and evergreen—just like the business environment on which they are intended to capitalize," Mankins writes. Full Story: Harvard Business Review (tiered subscription model) (10/5)
Real Estate Trends
Netflix's next real estate star on the future of the luxury market Mauricio Umansky, husband of "Real Housewives" star Kyle Richards, has his own show following his brokerage, The Agency. He offers a peek inside the occu-soap "Buying Beverly Hills" and makes predictions for high-end housing in 2023. Full Story: REALTOR® Magazine (10/5)
At the top of the top, real estate buys are increasing New York's Manhattan and the Hamptons, Florida's Palm Beach County and the greater Los Angeles region are among "trophy" real estate markets in the country, with properties fetching $50 million or more, and transactions at this level appear to be increasing. "It is a rarefied universe that very few can participate in," appraiser Jonathan Miller says. Full Story: The Real Deal (10/5)
Sidewalks collect data on infrastructure Digital dashboards embedded in sidewalks collect data used by Uncharted to create a city's digital twin. The data helps cities make decisions about their infrastructure and find more sustainable solutions to transportation and other infrastructure needs. Full Story: GreenBiz (10/5)
Maine and other states have paused rental assistance programs amid a deluge of applications and funding shortages. In Maine, the housing shortage has reached 25,000 units, underscoring the need to build. Full Story: Portland Press Herald (Maine) (tiered subscription model) (10/6)
Legislation & Regulation
Interest rate hikes and global financial strain Recent gyrations in British bond markets—and the U.S. stock market's slump during the first nine months of the year—offer signs of strain in the global economy as the Federal Reserve and other central banks rapidly raise interest rates. Still, many analysts expect the economy to avoid a repeat of the 2007 to 2009 financial crisis, and William Dudley, former president of the Federal Reserve Bank of New York, noted that "so far there haven't been any really bad surprises." Full Story: The Wall Street Journal (10/5)
Fed's Bostic says key rate should get to 4.5% this year The Federal Reserve needs to be resolute in getting inflation under control by taking the benchmark interest rate high enough to restrict economic activity, Federal Reserve Bank of Atlanta President Raphael Bostic says. "I would like to reach a point where policy is moderately restrictive—between 4[%] and 4.5% by the end of this year—and then hold at that level and see how the economy and prices react," Bostic says. Full Story: BNN Bloomberg (Canada) (10/5),Reuters (10/5),MarketWatch (tiered subscription model) (10/5)
Sharing Navigate With NAR Powered by REALTOR® Magazine with your network keeps the quality of content high and these newsletters free.
The National Association of REALTORS® is America's largest trade association, representing more than 1.5 million members involved in all aspects of the residential and commercial real estate industries. REALTOR® Magazine is the official magazine of NAR, bringing expert insight to real estate trends, tools, and business strategies.
SmartBrief Publishes More Than 200 Free Industry Newsletters - Browse Our Portfolio
