Segerstrom, Hines to develop 1.9M SF project with 1,583 homes.

OpenAI to host first developers confab, as Google, Meta, Red Hat bail.

Year-to date leasing on track to fall about 10% below 2022 total.

It serves as a credible alternative to conventional multifamily housing.

"You already start to see a lot of property or parcels come back onto the market where deals are not getting done."

NAHB said it expects the data has "bottomed out" as of June, the 14th consecutive month of declines.

The bulk of the portfolio is on multifamily properties, with $15 billion rent stabilized and rent controlled.

Some areas that were in high demand are seeing considerable cooling.