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Beyond the Bright Lights: The $63 Million Heist, Spain's Wildest Tax, and the Battle for America's Soul -196
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Welcome to Episode 196 of the Good Life Housing Weekly podcast! Join Rohan and David as they dive headfirst into the exhilarating, and sometimes terrifying, world of real estate and finance.
This week, fresh off a memorable Memorial Day trip to Las Vegas, the guys pull back the curtain on the International Council of Shopping Centers (ICSC) conference. What does a drop from 40,000 attendees to 25,000 mean for the future of retail? Is grocery-anchored retail truly recession-proof, even as 31% of Q1 2025 retail acquisitions went to this sector and a new $320 million fund is dedicated to it? David shares his personal experience with the rise of e-commerce grocery delivery and questions the long-term viability of the traditional grocery store model as we know it.
But the real estate world isn't all about shopping centers. The conversation takes a sharp turn to the CrowdStreet scandal, where the CEO of Nightingale was just sentenced to seven years in prison for orchestrating the largest crowdfunding fraud in US real estate history, defrauding investors of $63 million. What does this mean for the future of crowdfunding, and will regulators finally step in?
Globally, Spain has made a shocking move to address its affordability crisis: a 100% property tax for foreigners! Is this an aggressive tactic or a desperate measure, and could similar policies ever land on US soil?
The guys then dissect the US credit rating downgrade by Moody's (joining Fitch and S&P), a symbolic yet potentially impactful shift that could lead to higher interest rates on US debt. Plus, get the inside scoop on Donald Trump's ongoing "fights" with major players like Apple (threatening 25% tariffs), the EU (vowing 50% tariffs), and even Harvard University (threatening to revoke visas for its 6,800 international students), who contribute $1.4 billion annually in tuition. Is the Supreme Court's ruling on the Fed's independence a win or loss for presidential power?
Finally, a deep dive into the paradoxical real estate trends in Downtown LA. While retail vacancy rates have surged by 200% (from 2.5% to 9.5%), driven largely by Macy's departure, and office occupancy remains a dismal 31.1%, residential occupancy is creeping up. Discover how downtown restaurants are adapting (or failing to adapt) to the post-pandemic landscape, with many abandoning weekday service. What does the future hold for urban centers where the workforce has largely shifted to remote work?
Tune in for a raw, unfiltered look at the forces shaping our economy and daily lives!
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