🏠 This real estate niche will ride out the market crash

If you’re involved in the commercial real estate market, the current state of things might have you worried, and for good reason. Experts say this market is headed “toward a crash that could be as devastating as the 2008-09 crisis.” According to Patrick Carroll, founder and CEO of CARROLL, “The party’s over, unfortunately….The office market’s going to be destroyed, hotels are going to be destroyed — it’s going to be ugly.”

And while this news is particularly jarring, Carroll says that not all hope in this market is lost, and there’s one particular niche that’s still worth going after. The commercial real estate safe haven, if you will, is in multi-family real estate.

While commercial real estate is on the fritz, Carroll says that the multi-family market remains safe and successful (for now) due to its “strong fundamentals.” So if you’re hoping to stay active in this economy’s commercial real estate market, multi-family real estate may be worth considering.

SPILLING THE (REAL)TEA

Karma’s an astronomical utility bill. An Airbnb host in South Korea received a steep $640 charge on his utility and water bill after a couple’s stay. The host thinks the renters deliberately left the tap and gas on, for 25 days, to run up this charge as payback for him refusing the request to cancel their booking.

Bit by Bit(coin). History is made with the launch of the first ever Bitcoin real estate marketplace. While this is only currently available to properties in Texas, the company plans to make moves to other states in June.

This isn’t trickery. Move to Hickory! Hickory, North Carolina was voted the No.1 best, affordable place to live in the United States by U.S. News & World Report.

Opendoor closes the door. This past week, real estate firm Opendor laid off 22% of their employees. With a declining housing market to blame, the company cut nearly 560 jobs.

Drop it low. According to recent Redfin reports, March saw the largest annual drop of home prices since 2012. The average home sale price dropped 3.3%.

TIP OF THE WEEK

Buying a home is hard. And while the market is starting to cool off, there’s no denying that it’s still a tough time to buy. GoBankingRates shares their best tips for how to be a savvy buyer in a seller’s market.

01 — Have your finances ready and in order: To be a competitive buyer, you’ll need to be ready to put in an offer the moment that you find the right property. Have your budget in mind, get pre-approved for your loan early, and don’t forget to factor in additional costs.

02 — Do your due diligence: By doing your research to find out what similar homes in the area are listing and selling for, you'll be able to put in an offer that stands out and is more likely to be chosen.

03 — Never skip the inspection: It’s never worth forgoing an inspection in order to win a bidding war. While inspections aren’t always required, opting out is not a smart buying choice, and can put you, as the buyer, at significant risk.

WHAT'S BREWING

📚 What we're reading: Daisy Jones & The Six by Taylor Jenkins Reid. Said to be inspired by the real life events of Fleetwood Mac, this book follows the ebb and flow of a rock band in the 70s during their rise to worldwide fame, and their decision to split up at the peak of it all. Alexa, play “Go Your Own Way” by Fleetwood Mac.

🎧 What we're listening to: “How to Choose the Best Credit Card” on the Financial Feminist Podcast. The process of choosing a credit card can be confusing and overwhelming. With so many different options, each with their own set of pros and cons, it can be hard to know which one is right for you. Thankfully, money expert, Tori Dunlap, explains it all in this recent podcast episode.

👀 What we're watching: TikTok live streams of the Eras Tour. I mean at this point, we’ve literally seen Taylor perform all three and half glorious hours of her setlist (many…many times).

🛒 What we're adding to our shopping cart: 

• Baublebar All Smiles Custom Banket

• Hatch Restore 2 Alarm Clock

• Rain Cloud Humidifier

• Anthropologie Delaney Candlesticks

SEEING STARS

Marvelous Mrs. Maisel actor Tony Shaloub sold his Upper West Side apartment for $3.4 million. According to PropertyShark data, Shaloub and his wife bought their stunning pad in the West 81st Street co-op in 2016 for just under $4 million. The apartment is what’s often called a “classic five,” as it has five main rooms—two bedrooms, a great room featuring a dining area and a library, and finally, a kitchen. It was put on the market in April of 2022, and at the time was listed for $4.5 million. During its time listed, the price of the apartment dropped five times and had a change in representation. After about one year, and for about half a million dollars less than originally listed, the apartment was finally removed from the market. Marvelous, indeed!

TEAM MANMAD TILE OR TEAM STONE TILE?

When selecting the appropriate type of tile for your bathroom, it's essential to begin with functionality in mind. If you're designing a formal powder room, for example, you may opt for a more ornate option like marble. On the other hand, if you're designing a children's bathroom, you'll need something that's more durable and less delicate, such as porcelain.

Once you've considered practicality, you can start exploring the many options available, both manmade and natural.

MANMADE TILES

Porcelain: Porcelain is a popular choice for bathroom tile due to its durability and versatility. It comes in a wide range of shapes, colors, and styles, and is resistant to scratches, flaking, and etching.

Glass: Glass tiles are beautiful and can add a pop of color to your bathroom. However, they're best used on walls or shower niches, not on the bathroom floor. We don’t advise using glass tile on the floor, as it's slippery and scratches easily.

Mosaic: Mosaic tiles can add personality, pattern, and color to your bathroom walls. Whether you choose Moroccan-style ceramic tiles or metal tiles, they'll give your bathroom a unique and eye-catching look.

STONE TILES

Marble: Marble is an elegant tile option and can add character to your bathroom. New techniques now allow for marble mosaics with intricate shapes, making it a beautiful choice for any bathroom.

Travertine or Limestone: Travertine or limestone are beautiful, but they're also porous and require regular upkeep. Cement, a composite made from natural stones, is similarly permeable. If you choose a natural stone tile, you'll need to seal it every six months to a year, and expect some aging over time.

Natural Stone Maintenance: If you opt for natural stone tiles, be prepared for some maintenance. Expect to seal your natural stone tiles regularly, and consider honing it to give it a matte finish and reduce its slipperiness, making it a safer choice for your bathroom floor. Also, keep in mind that each natural stone piece has it’s own unique pattern and coloring so it’s important to pick the tiles that match or mix different boxes of tile together.

Selecting Tiles for Each Bathroom Surface

When selecting tiles for your bathroom, it's important to consider the specific role of tile in each area. There are three main surfaces to consider: floor, shower, and walls. When approaching tile selection we recommend mixing scales, colors, and patterns to add depth and interest to your bathroom.