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Academia Is Helping the Real Estate Industry Spot Macroeconomic Trends
Real estate technology news
Franco Faraudo
December 09, 2024
Propmodo Technology
By Franco Faraudo · December 9, 2024
Greetings,
This week the Propmodo team is in NYC for ICSC. If any of our amazing readers would like to meet us please sign up for our annual holiday networking yacht party. We will have some of the biggest movers and shakers of the PropTech world in attendance and have a few more spaces left on the boat. Use the coupon code SKIPPER for a discount.
Real estate technology news has slowed down as the holiday approaches but there are still several interesting developments to report.
Bytes
🏗️ BIM Me Up: Governments’ Role in Green Construction
A study published recently in Nature looked at the implementation of BIM modeling across China. They found that the government plays an important role in supporting the use of advanced modeling for construction projects, “The lack of government intervention and high-level support may restrict the innovation and development of BIM technology, which in turn affects the economic benefits of green buildings.”
🗽 Empire of Incentives
The State of New York just announced $10 million more dollars in incentives for upgrading heating and cooling systems. The incentive will be available to both building owners and HVAC companies that install the systems.
💡 Activist Investors Take Aim at Honeywell
Representative Maxine Waters has introduced a bill that would study the benefit of AI in the financial services and housing industries. The increased attention on AI means that lawmakers are thinking about how the technology can be harnessed as well as how to oversee its use.
⚖️ RealPage Lawsuit Closed
The landmark DOJ investigation into RealPage over its rent optimization software’s role in raising rent prices is over, according to a statement from the software company. This marks a major turnaround from a potentially damaging case, but RealPage still faces significant legal challenges, including multiple civil lawsuits, some filed by state attorneys general, such as in Arizona.
🏙️ Propmodo Technology Feature: Property Research
This week, we're diving into the technology behind property research and due diligence, brought to you with the support of our friends at Diald. Their AI-powered platform simplifies risk management by providing timely updates on news impacting site valuations and automatically uncovering a property's history. Explore it yourself with a free trial.
The property industry has seen a surge in new technologies and techniques to predict future property demand. A major recent advancement comes from tech companies leveraging location data provided by telecoms and app developers. These companies are required by law to anonymize data to protect mobile users' sensitive information, but these rules are not always followed.
This month, the FTC accused three data brokers of misusing mobile location data. Gravy Analytics was charged with using geofencing to identify and sell lists of consumers based on sensitive characteristics such as health conditions, political activities, and religious affiliations. Another company, Mobilewalla, faced accusations of selling data that could disclose individuals' home locations. It also faced scrutiny for a June 2020 report analyzing the racial backgrounds and cities of protesters after George Floyd’s death during an arrest.
In other news, Advan, a provider of mobile real estate data, has announced its acquisition of Real Estate Intelligence from RetailStat, a company specializing in retailer health data and analytics.
Meanwhile, CoreLogic has released its residential real estate price forecast. The pace of price increases is expected to slow slightly to 2.4% annually, though the impact will vary by region. New Jersey, Rhode Island, and New Hampshire are projected to see continued price growth, while Washington, D.C., Idaho, and Montana have experienced the largest price declines over the past year.
Today, we’re exploring how academia is aiding the real estate industry in identifying macroeconomic trends through quantitative analysis. We’ll also take a closer look at Diald's AI-powered platform, designed to help predict the success of property investments.
Let’s go!
Presented by Diald
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More Propmodo Technology
Propmodo Technology is edited by Franco Faraudo with contributions from readers like you and the Propmodo team.
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