• Real Estate

    COVID-19 aftereffects continue to drag on Chicago commercial real estate

    “People are trying to be rational about what they’re doing, because the alternative is to be a hard-ass and take a loss,” Fink says. Still, the long-term outlook for retail is anything but bright. For many housebound consumers, the pandemic merely reinforced the convenience of online shopping, which had been taking big bites out of the brick-and-mortar retail sector for years. Though shoppers are returning to stores, e-commerce will remain a growing threat to shopping malls and other properties, one reason to expect more distress in the future. The future is uncertain for the office market, too. The CMBS delinquency rate for local office properties has edged up but is…

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  • Home Improvement News

    Elevated Remodeling Activity Amid Pandemic to Continue Through 2021

    CLEVELAND, Feb. 1, 2021 /PRNewswire/ — From adding home gyms and offices, to installing decks and pools for the family staycation, home renovation activity spiked in 2020 during the COVID-19 pandemic, with 39{e41d5a0df0c888fd9de3d970fd27b1e84b5ed5fef9cdbc0805e2ccc9025135a4} of consumers surveyed nationally by the Freedonia Group in December 2020 reportedly undertaking home improvement projects because of changes associated with the pandemic. In 2020, this was a saving grace for suppliers from a range of industries – from building materials to power tools – that are contending with the pandemic’s debilitating effects on other parts of the construction industry. The question for many in the industry now is: What will the home remodeling market hold for 2021?…

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