🏠 The future of furniture & Are ADUs worth the investment?

All in favor of affordable housing say “I.” 🙋‍♀️

The ballots are in, and across the U.S. they were in support of protecting tenants from soaring rent increases.  

Voters in Portland, Maine, and Richmond and Santa Monica in California said they want to see rent capped at below inflation prices. Meanwhile in Orlando, Florida, voters demanded some sort of rent stabilization.

Why’s affordable housing important? Well, for one, take a trip to San Francisco or Los Angeles where homelessness has become an overwhelming issue. And for two, the professions that communities need — like teachers and police officers — can’t afford to live where they work.

SPILLING THE (REAL)TEA

Remember when Airbnb was for renting out a room in your house? Nowadays, hosts don’t want to share their spaces, and guests want to feel comfortable in their own private accommodations. Enter the accessory dwelling units boom (more on these below!), led by an Airbnb co-founder behind the startup Samara.

Millionaires are struggling to sell their homes (boo-hoo). Take for example this Nevada ranch, originally listed at $30 million, with an 18,000-square-foot mansion to boot. After 15 months on the market, the owner has dropped down to an asking price of $11.5 million (yeah, a 62% reduction) — and still no offers.

In France, home ownership is becoming a little more attainable with Virgil. The company helps home buyers by investing in apartments alongside them. Then, when homeowners are ready to upgrade, Virgil gets its investment back from the sale. So, it looks like we’re moving to Paris — who’s with us?

Would you rent your house from your bank? It may be where things are headed. JPMorgan Chase is investing up to $1 billion in developing build-to-rent, single-family homes across the U.S.

Your chance to enter the HGTV® Urban Oasis 2022 Sweepstakes is almost over! Up for grabs: A Nashville, Tennessee HOUSE complete with furnishings, plus $50,000, and a Mercedes-Benz. Enter here.

WILL ADDING AN ADU PAY OFF?

ADUs are all the rage right now. Short for “accessory dwelling units,” these living spaces are basically the guest home reinvented — meant to be rented out by homeowners for extra income. But are they worth it? Maybe not.

Adding an ADU could mean:

• Spending about $50,000 to convert a garage, attic or basement

• Spending more than $150,000 to construct a new, detached ADU in the backyard

• Higher property taxes

• Larger homeowners insurance premiums

• A decrease in property value if ADUs are unusual for the area

Ok, but some ADUs are pretty cute...

WHAT'S BREWING

📚 What we're reading: This list of Thanksgiving sides from Bon Appetit in preparation for Thursday’s feast!

🎧 What we're listening to: What’s happening with crypto right now? We love how The New York Times broke it down in Friday’s episode of The Daily titled “The Man Who Was Supposed to Save Crypto.”

👀 What we're watching: How is 'Million Dollar Listing Los Angeles' on season 14 already? We’ll be binging all-new episodes on Bravo starting Dec. 8. Check out the trailer.

🛒 What we're adding to our shopping cart: The Black Friday deals have already begun! As you start setting goals for 2023, consider adding a little website revamp to your vision board. Oak & Keys is offering a 15% discount code on these brand-new Squarespace templates: BLACKFRI22 

Here are a few other shops with Black Friday deals we’re eyeing 👀:

• Get up to 20% off at Brooklinen

• Get 20% off at Outer

• Get 25% off at Boll & Branch

• Get 25% off at Serena & Lily

• Get up to 60% off at Nordstrom

• Get up to 20% off at Caraway

• Save up to $1,000 at Burrow

• Get up to 80% off at Wayfair

• Get up to 20% off at Parachute

• Get up to 75% off at Rugs USA

• Get up to 70% off at West Elm

• Get up to 60% off at Society6

• Get 25% off at Bed Bath & Beyond

• Save up to $800 on mattresses at Casper

• Get up to 70% off at H&M Home

• Get up to 30% off at The Citizenry

PROPERTY CRUSH

This is the most stunning apartment you’ve ever seen. 😍 Standing 55 stories above Manhattan‘s Upper East Side, this $33 million penthouse is up for grabs. The arches, the architecture, the staircase, THE VIEWS FROM THE PRIVATE TERRACE! … sorry for screaming.

THE FUTURE OF FURNITURE

The pre-loved furniture retailer Kaiyo just released their 2022 Furniture Trend Report, complete with 2023 predictions. Here are the top takeaways from the year, plus the trends to look out for in the New Year.

The most popular pieces on TikTok in 2022:

1. The classic Restoration Hardware Cloud Couch that either means you’re an influencer or you want to be one (104.1 million views)

2. This Anthropologie mirror we’re all guilty of adding to our mood boards (14.3 million views)

3. This comfy, low-to-the-ground Ligne Roset Togo Sofa you can’t help but feel cool in (7.1 million views)

The brands that increased in value:

1. The Swiss office furniture company Vitra (+81%)

2. Tov, with its modern takes on classic pieces (+46%)

3. Moe’s Home Collection, which you can shop on WayFair (+33%)

4. Surprise, surprise: Urban Outfitters (+32%)

5. B&B Italia’s pieces are like art 😍 (+30%)

2023 trend predictions, according to designer Tommy Lei:

1. Dopamine Decor. “Personal sanctuary space — like a reading nook or tea room where you can restore and recalibrate.”

2. Soulful Minimalism. “Minimalism is about the essentials that spark joy and bring warmth to your life. It comes down to fabrication, texture, and design.”

3. Generational Furniture. “Circular furniture consumption will have us buying less and preserving our planet in the long run.”

2023 trend predictions, according to designer Lale Boz:

1. Organic Shapes. “Edgy, sharp corners and wavy forms have been popping up in tables, couches, chairs, mirrors, and frames.”

2. European Summer. “Natural bright light, warm wood tones, and airy linen furniture with light curtains made of soft textiles.”

3. The ‘70s. “Low-slung furniture, wood paneling, and plants that bring the outdoors in add warmth and create a feeling of groundedness.”