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Report: Social media 'has never been more important' Social media is used by 62.3% of the world's population, up 5.6% over 2023, with users averaging 2 hours and 23 minutes daily on platforms and replacing WhatsApp as their "favorite" in favor of Instagram. We Are Social co-founder Nathan McDonald says the rise of TikTok is an indication that "social is not somewhere where a broadcast approach works for brands, and the importance of thinking social first has never been more important." Full Story: Marketing Tech (UK) (2/28)
Livestreaming is a vital way for marketers to engage audiences with authentic, interactive experiences, writes ASV Experiential's Adrian Si, who cites best-practice examples from Red Bull, Apple, Tesla, Dior and Bonhams. "By crafting unique, limited-access content and promoting it through social media and email, marketers can draw viewers into a world of educational and entertaining experiences," Si writes. Full Story: SmartBrief/Marketing (2/28)
Dimon: Minus recession, CRE investors can manage issues Unless there is a recession, most commercial real estate investors will be able to make it through the current environment, perhaps by refinancing or putting more equity into their buildings, says JPMorgan Chase CEO Jamie Dimon. Provided that the country does avoid a recession, problems will be confined to "pockets" of the sector, Dimon says. Full Story: Bloomberg (2/26)
ChatGPT can be a valuable tool for a sales team when researching potential clients, but it can't answer the most detailed and intimate questions that need answers; only old-fashioned leg work and relationship building can do that, writes David Brock. Every individual client and company will have different needs, and while AI may provide assistance, it can't formulate the right questions for each client, Brock notes. Full Story: Partners in Excellence Blog (2/27)
Fair & Equitable Housing
Voters decide on funding to aid unhoused Californians California residents will vote March 5 on Proposition 1 to spend $6.4 billion on housing and health care for people affected by homelessness in the state. The measure is supported by Gov. Gavin Newsom, who says it would allow for 11,150 new beds and housing units as well as 26,700 more outpatient appointments for people who are currently unsheltered. Full Story: KFF Health News (2/26)
Atlanta uses shipping containers to fight homelessness Atlanta is transforming shipping containers, used as makeshift intensive care units during the height of the pandemic, to create tiny houses for people experiencing homelessness. Residents are offered a 12-month lease to start and charged 30% of their income, if they have one. Full Story: WJCL-TV/WTGS-TV (Savannah, Ga.) (2/26)
Legislation & Regulation
Fed grapples with housing inflation trends Elevated housing inflation remains a persistent issue for the Federal Reserve as it monitors pricing pressure in the overall economy. Data from the private sector differs from official measures, and it's not entirely clear when a convergence will occur. "There's clearly something that's happening that we don't yet understand," says Chicago Fed President Austan Goolsbee. Full Story: The New York Times (2/26)
Fed should be patient on rate cuts, says Schmid The Federal Reserve should be patient with interest-rate cuts, Federal Reserve Bank of Kansas City President Jeffrey Schmid says. "With inflation running above target, labor markets tight and demand showing considerable momentum, my own view is that there is no need to preemptively adjust the stance of policy," Schmid says. "I believe that the best course of action is to be patient, continue to watch how the economy responds to the policy tightening that has occurred and wait for convincing evidence that the inflation fight has been won." Full Story: Bloomberg (2/27)
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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.
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