Figure of the week: Africa is home to the 10 fastest growing cities in the world

The United Nations Department of Economic and Social Affairs projects that the world’s 10 fastest growing cities, between 2018 and 2035, will all be in Africa. The visualization below first maps the location of the fastest growing cities in the world with a population greater than 2.5 million. Interestingly, many of the fastest growing African cities are specifically located on the Gulf of Guinea including Lagos, Abuja, Abidjan, Doula, and Kumasi.

Figure showing 30 of the world's fastest growing cities

 

 

 

 

Source: Figure of the week: Africa is home to the 10 fastest growing cities in the world

Rising seas could wipe out $1 trillion worth of U.S. homes and businesses | Grist

 

Some 2.4 million American homes and businesses worth more than $1 trillion are at risk of “chronic inundation” by the end of the century, according to a report out Monday. That’s about 15 percent of all U.S. coastal real estate, or roughly as much built infrastructure as Houston and Los Angeles combined.

The sweeping new study from the Union of Concerned Scientists is the most comprehensive analysis of the risks posed by sea level rise to the United States coastal economy. Taken in context with the lack of action to match the scale of the problem, it describes a country plowing headlong into a flood-driven financial crisis of enormous scale.

 

Check out interactive map to see how your home, zip code or community does: http://US Coastal Property at Risk from Rising Seas.

Union of Concerned Scientists report at: Underwater: Rising Seas, Chronic Floods, and the Implications for US Coastal Real Estate (2018)

Grist: Rising seas could wipe out $1 trillion worth of U.S. homes and businesses

Artificial intelligence predicted to transform real estate investment by 2022 | News | Institutional Real Estate, Inc.

Two-thirds (64.5 percent) of institutional investors believe that artificial intelligence (AI) will be widely adopted in the real estate sector by 2022, according to a new report by Intertrust, the leading global provider of high-value trust, corporate and fund services. Forty-two percent of those surveyed say the technology will be widely adopted by 2020.

“The use of AI in the industry has become an increasingly hot topic, with many predicting that it will fundamentally transform real estate investment real estate investment within two to three years,” said Jon Barratt, head of real estate at Intertrust.

BUT

Despite optimism about the future of AI, 33 percent of respondents said the technology isn’t yet ready for use in the real estate industry. The same proportion believe that this is caused by a lack of investment in AI from companies in the sector.

SO IT WILL IF IT DOES AND WON’T IF IT DOESN’T.

Source: Artificial intelligence predicted to transform real estate investment by 2022 | News | Institutional Real Estate, Inc.

What Land Will Be Underwater in 20 Years? Figuring It Out Could Be Lucrative – The New York Times

Real estate industry is starting to ask location, location, climate change.

Warehouse developer asks if site or roads will be flooded in 10 years and new consulting firms try to answer.

https://mobile.nytimes.com/2018/02/23/climate/mapping-future-climate-risk.html?referer=http://feedly.com/index.html

Retrofitting suburbia: Old shopping malls can be saved by their parking lots – Business – CBC News

 

In what some call “retrofitting suburbia,” fading food and department stores are reinventing their huge urban properties by filling them up with residential, office and retail space.And with Sears Canada closing dozens of department stores, new opportunities in these “mixed-use” developments now abound.”Just about every shopping centre — if they’re smart — is looking at this,” said Brent Toderian, an international consultant on urbanism and city planning based in Vancouver.Brent Toderian”Just about every shopping centre — if they’re smart — is looking at this,” said Brent Toderian, an international consultant on urbanism and city planning based in Vancouver. (CBC)”The recognition is that you can bring more customers, you can get more value out of the land and, particularly when you’re around transit, you can provide a lot more transit ridership rather than car dependency.”Such revelations aren’t new in the United States but the idea has caught fire more recently in Canada.

Source: Retrofitting suburbia: Old shopping malls can be saved by their parking lots – Business – CBC News

7 ZIPs That Exemplify Suburban Comeback | Realtor Magazine

For the first time in a decade, the number of Americans living in suburbs grew faster than that of urban dwellers in 2017, buoyed by young homeowners who are planting roots outside cities, according to the Brookings Institute, a think tank based in Washington, D.C.“

You’re seeing more millennials moving to the suburbs, especially as they have kids,” says Danielle Hale, chief economist at realtor.com®. “People are definitely looking for affordability, better schools, less crime. … More outer suburbs have really put in an effort to develop walkable town centers and other places for people to gather to enjoy similar benefits they’d find in urban centers.”

Realtor.com®’s research team analyzed the ZIP codes outside the nation’s largest cities to find the best suburb for each major metro for families. They factored in housing affordability (defined as less than $400,000 to buy a home for most metros); percentage of children residing in each ZIP code; availability of child care; school rankings; number per capita of restaurants, bars, and museums; crime rates; and reasonable commuting time (considered 70 minutes or less).

Source: 7 ZIPs That Exemplify Suburban Comeback | Realtor Magazine