Suggested solutions to the crisis include: (1) expediting the approval process by adding “Inherently Beneficial Use” to municipal land use laws to circumvent “Not in My Back Yard” opposition, (2) expand taxpayer funded one-time front-end subsidy programs for affordable housing and encourage the expansion of existing subsidy programs at the federal, state, and county levels, (3) use the power of zoning to create subsidies necessary for providing more affordable housing and market rate housing at no additional cost to the taxpayers. Retailers across the globe are increasingly relying on a complex and expanded logistics infrastructure as online sales grow as a percentage of total revenue. 13/2021 for the amendment and completion of the Tax Code and of the Accounting Law (GEO... Nations across the Middle East and North Africa have been keen to participate in China’s Belt and Road Initiative. These cookies “remember” that you have visited a website and this information may be shared with the providers of analytics services (see details in our privacy policy). Demand will be defined by the extent to which this crisis leads us to abandon old habits and adopt new ones. Funding remains elusive. 7 trend. Many classic retail formats and retailers will never recover and will require creative re-use or fundamental redevelopment to replace their former vitality. Take a peek at the largest commercial banks Special Features. This could require larger spaces and higher costs to accommodate the same functions. Turkish High Court clarifies procedure for choice of... Legality of Bucharest's suspension of district zoning... Romania toughens rules for public procurement by state... Romanian government amends Tax Code and Accounting... Belt and Road has the scope to help meet MENA infrastructure... Health and Safety Newsletter December 2020, Tap the Share button at the bottom of the Safari screen for the website you're on, Tap the icon labelled 'Add to Home Screen', Tap the 'Add' button in the upper right corner. Significant segments of the economy remain debilitated. Meanwhile, the American Society of Civil Engineers rates U.S. infrastructure a dismal D+. The ongoing infrastructure crisis is manifested in an estimated underinvestment of $15 trillion in global infrastructure by 2040. In examining real estate markets, we must consider existing fragility, adaptability to new demands, and potential relevance to new markets. This is a substantially larger increase than the 87 percent increase for homes in the top 20th percentile. Density and affordability of housing, job opportunities, social services and health care, and cultural, sports and recreational activities will be even more key in urban planning, with significantly-revised expectations on capacity. Our Cookie Notice is part of our Privacy Policy and explains in detail how and why we use cookies. The 2020-21 Top Ten Issues are an attempt to overlay this new world onto an already changing real estate environment. Unlike activities that help children develop, such as contributing to light housework or taking on a job during school holidays, child labour limits access to education and harms a child’s physical, mental and social growth. To learn more, please refer to our, 2020 Committee and Volunteer Opportunities, Qualities and Attributes of Successful Applicants, Specialty Interest Group Discussion Board, Register to Join CRE Specialty Interest Groups, Call for Submissions: Manuscripts on Impact of COVID-19 on Real Estate, Home prices in the bottom 20th percentile increased 126. In this era of political divisiveness, there are two things that most can agree … It will impact commercial real estate in many ways, from reduced demand for housing to interest rates that will eventually have to rise to attract new capital to fund our debt, to the ability to repair and upgrade our aging infrastructure and fund projects like 5G that will be essential to our future and U.S. competitiveness. The statistics for 1996 alone offer a grim reality: there were over 6.8 million crashes, in which over 41,000 were killed and another 3.5 million were injured. Total state debt is approximately $1.2 trillion, or $3,500 per state taxpayer, and local debt is nearly double state indebtedness at $2.1 trillion and $6,350 per local taxpayer. On this page you will find all the articles and publications for commercial & general business issues. COVID-19 will have a lasting impact on the design and use of the real estate space, with a level of transformation and rebuilding not seen since the end of WWII. Browse, watch, and interact with all your favorite TV commercials on iSpot.tv The duration of the lockdown has been a factor, and so is the confidence with which we emerge. In the face of effectively zero interest rates, the risk premium spreads, valuation metrics and the underwriting assumptions become critical. Updated now with the best 2021 TV Commercials, 2020 most popular TV ads, Super Bowl Commercials. Given the cost of moving and the disposable income required, such urban flight is primarily viable for wealthier households and those with remote employment options. Volume 58 Issue 4 Volume 58 Issue 3 Volume 58 Issue 2 Volume 58 Issue 1. Immigration has ground to a halt, initially driven by nationalistic policies in the U.S. and countries throughout the world, and more recently by the COVID-19 pandemic. The Lawyer.com brings you the latest international and UK legal news, including breaking stories on deals, lateral hires, panel appointments, disputes and law firm and the Bar developments. Forced adoption of web meetings, safety standards, privacy and collaboration tools, and cyber security has brought the benefits of technology to even the most resistant users. This level of debt at the onset of COVID-19—with trillions more ahead in stimulus and fiscal rescue intervention—is not sustainable. Total Personal Debt now exceeds $20.5 trillion and is approaching the U.S. annual GDP. Details concerning the tools in use are in our privacy policy. According to the Urban Institute, prior to the COVID-19 outbreak, the affordability crisis driven by the lack of housing supply was one of the biggest problems facing the U.S. housing market. The flexibility of people to move to better jobs has driven productivity and the real estate markets. They also allow you to log in to personalised areas and to access third party tools that may be embedded in our website. These urban spaces are accounting for virtually all new office and rental multifamily construction. Brilliant advertising, funny commercials. Worker classification continues to be addressed by enforcing agencies, in the … Even with some share price rallies, the commercial mortgage REIT sector is down more than 36% YTD, with several down more than 50%. Preview of 2019-2020: Sex Discrimination and Fiduciary Duty on … If you want to individually select which cookies we can set, please click "Select preferences" below. A new tile linking to LawNow will now appear on the start menu. Growth of the labor force had declined from the double-digit pace of the final three decades of the 20th century to less than 8 percent from 2000 to 2019, driven in part by the reduction in the U.S. birth rate. BRIDGING THE GAP. Emergency moratorium on residential and commercial property through September 30, 2020. The last three months have presented not only the real time volatility of the capital markets, but also how quickly debt and equity capital liquidity can stop flowing when risk and returns are difficult to measure. Analytical cookies help us improve our website by providing insight on how visitors interact with our site, and necessary cookies … ... beginning with the March 23 issue. The impact of the economic lockdown on state and local tax revenues could reduce non-federal government employment levels, as occurred in the Global Financial Crisis, and shelve important infrastructure projects. Mortgage REITs took a significant hit early in the pandemic, despite no losses in collateral due to loan defaults. By continuing to browse the site, you consent to our use of cookies. Welcome to the home of commercial & general business issues on Law-Now. Click on the "..." icon in the bottom-right of the screen. An early May Harris Poll showed that nearly 40% of urbanites are considering fleeing the city as concerns about the virus and economic effects of the pandemic take hold. You can change these settings at any time via the button "Update Cookie Preferences" in our Cookie Notice. For the decade of the 2020s, the economy is constrained by long-run potential GDP growth that is a weak 1.5 – 1.6 percent. The report provides deal statistics from 15 emerging markets and also includes an analysis of the latest trends and developments across the region. COVID-19 behavioral changes will steer real estate and ultimately what capital will cost. Intentional design will deliver social connectedness with physical distancing that integrates residential, office, retail, and public spaces closely resembling older European cities. In this era of political divisiveness, there are two things that most can agree on: 1) there is a tremendous need for affordable housing throughout America, and 2) there is a strong “Not in My Back Yard” or NIMBY agenda. Personalisation cookies collect information about your website browsing habits and offer you a personalised user experience based on past visits, your location or browser settings. Persistent cookies, however, remain and continue functioning on repeat visits. Technical cookies are required for the site to function properly, to be legally compliant and secure. If you agree to this, please click "Accept all" below. 10. Many technologies will go from “nice to have” to “mandatory.”  These may include: tracking of people in buildings; contactless doors and elevators; air and water quality monitoring; airflow and recirculation control; mandatory remote building services; and health screenings for contractors and facility staff. See the Comprehensive Index of Legal Reports for our complete list of reports. Commercial Real Estate; ... but that federal law applied in this case because it appropriately addressed the issue. Past Issues. Will we insist on lower density wherever we go? current edition: US edition News Opinion Sport Culture ... About 11,000 outlets shut in first half of 2020, twice as many as in same period last year ... About 426 results for Commercial property. 2018. COVID-19 may be the greatest environmental experiment of our real estate lives. Ironically, the healthcare industry—especially workers in lower-income jobs—is facing an intense financial squeeze in the wake of the coronavirus. 2020 trends to watch: Stories policymakers should be watching in 2020 Tuesday, January 7, 2020 The U.S. military prioritizing strategy in the Middle … Amidst the pandemic, there is an urgent call for technology to monitor, manage, and mitigate risks. Commercial real estate prices have plunged this year as people stopped going into offices, and retail businesses were disrupted. This page highlights the most recent reports. B-330570 Current Drone Legal Issues Page 2 “committed to working to fully integrate drones . Analytics cookies collect anonymised information such as the number of site visitors or most popular pages. . In this guide you will find a useful overview of the meaning and interpretation of force majeure across European jurisdictions. In as much as safety issues were at the forefront after 9-11, a new focus is being placed on the health of building occupants—from building entry and vertical transit to improvement of indoor air quality, including the reduction of transmission threats of airborne particulates. Real estate implications will be determined by how long behavioral changes brought on by the virus last, the quality of innovations in healthcare, living, and working that emerge, and the quality of world leadership. Save Law-Now to your mobile device home screen for easy access, Rechtsanwalt | Global Co-Head of Commercial Group, CMS. Two primary factors may drive the effect of this pandemic on real estate markets. Will social distancing habits persist, and require reduced density in airplanes, airports, stores, restaurants, theaters, offices, banks, and government buildings? To stay in touch with the latest developments, please bookmark this page on your mobile or register to receive eAlerts. This website uses cookies. Our combination of practice excellence and deep industry expertise provides a distinct competitive advantage to our clients, bringing together legal expertise, commercial insight and close professional support. As the world reawakens to its vulnerability to extreme events amidst the current COVID-19 pandemic, we are forced to view infrastructure through a different lens given its crucial function in helping to sustain life and commerce. Coronavirus disease 2019 (Covid-19) was declared a public health emergency of international concern by the World Health Organisation on 30 January 2020. Covid-19: Practical guidance on significant commercial and legal issues. 2019. Environmental, Social and Governance (ESG) is no longer an emerging trend, but a critical component of real estate investment. A number of employment law changes will apply from April 2020 including: a statement of employment particulars must be given to all workers, not just employees as currently, and on day one of employment rather than within two months. Non-COVID related risks that deserve our attention are the 2020 presidential election, the switch from LIBOR to SOFR as an index, and reporting regulations that will require investor focus. Such risks suggest an unusual “W-shaped” recession, a second contraction following the initial improvement of a partial economic re-opening. Some functionality will not work if you don’t accept these cookies. With yearly increases in travel and no improvement over our current safety performance, fatalities and injuries could increase by 50 percent by 2020. This CMS Guide addresses commercial contracts between companies (hereinafter also “B2B contracts”) in various countries worldwide. In a letter to employees on May 14, as Delta announced the retirement of its Boeing 777 fleet, CEO Ed Bastian wrote: “Our principal financial goal for 2020 … The result will be spaces that are safer, more efficient, and better prepared for the next big surprise as property owners and managers create confidence for tenants, residents, and shoppers. Economic Development A Solid 40 Years for McDonald Steel MCDONALD – Portions of McDonald Steel Corp.’s plant are still punctuated […] ... 14.12.2020. The U.S. economy was heading toward a tipping point prior to the COVID-19 pandemic, and beyond that we find deep and persistent challenges facing the economy and the real estate industry. This website uses cookies so that we can provide you with the best user experience possible. This burden on what’s now the largest demographic group in the workforce—Millennials—will inhibit housing investment and consumption behavior, adversely impacting retail, auto purchases, and leisure spending for travel. June 2020. Necessity will move us to better and smarter buildings and operations. Industrial production expansion peaked in mid-2018 and had decelerated into negative territory by late 2019. Will real estate demand be reduced by the virtual office and a preference for home entertainment? Percentage of rent being paid in each sector is an important metric as is late debt service payments. In this issue of The ACHR NEWS, we look at residential ductless, dehumidification, and smart homes technology. In an attempt to prevent misuse of public funds, the Romanian government has issued new rules to increase transparency in public procurement by public... On 26 February 2021, Romania published Emergency Ordinance no.