Real Estate

Over the last year, nearly every FMCG executive I’ve spoken to whether sitting in Chicago, Paris, or São Paulo has echoed the same challenge: “We need to get closer to the consumer, faster.” Global brand, local nuance the future of FMCG growth depends on how well your leadership understands the street, not just the spreadsheet. It’s no longer enough to run a global playbook and hope for local resonance. Why? Because the center of gravity in FMCG has shifted. 84% of FMCG companies are now increasing local decision autonomy in key growth markets. (Bain FMCG Operating Model Report, 2023) → That means your CMO can’t be the only one with a finger on the pulse. → Your regional GM can’t just execute HQ strategy. → And your global leaders can’t lead with assumptions they need cultural fluency and operational humility. In other words: local-for-local is not just a supply chain shift. It’s a leadership shift. The most successful candidates weren’t those who had rotated through five global hubs. They were the ones who could… → Read the cultural nuances of consumer behavior in that specific region → Navigate the regulatory quirks that could derail a product launch → Influence global teams while building trust with local retailers → Speak the language literally and commercially They understood the street not just the spreadsheet. And they had the rare ability to connect what’s happening on the ground with what needs to be shifted at the center. These are the leaders FMCG needs now. → Strategists who don’t just adapt to the market, they anticipate it. → Operators who don’t wait for HQ they build and test in-market. → Connectors who know when to push back and when to align. Because in today’s world, speed and relevance win. And that doesn’t come from waiting for global sign-off. It comes from empowering the right local leaders. Here’s where I see many companies trip up: They treat “local” as junior. As operational. As reactive. The truth? Your next competitive edge may be a GM in Manila, a Marketing Director in Lagos, or a Commercial Lead in Warsaw who’s trusted enough to build strategy from the ground up. That’s what global FMCG companies are starting to understand and what we’re helping them solve for in every executive search we run. Not just global leaders who can work across regions…but local leaders who can lead across functions, cultures, and expectations while driving growth with urgency and empathy. This is the new face of global FMCG. Not centralized, but coordinated. Not rigid, but responsive. Not top-down, but built from the middle out. #ExecutiveSearch #FMCGLeadership #GlobalGrowth #ConsumerGoods #TalentStrategy #LeadershipHiring

A Return To Office mandate is a funny thing. A trade-off of lower workforce productivity, morale, retention, engagement, and trust in exchange for...managers feeling more in control. It's more a sign of insecurity and incompetence than sound decision-making. The fact that 80% of executives who have pushed for RTO mandates have later regretted their decision only makes the point further, and yet every few months more leaders line up to pad this statistic. In case your leaders have forgotten, return to office mandates are associated with: 🔻 16% lower intent to stay among the highest-performing employees (Gartner) 🔻 10% less trust, psychological safety, and relationship quality between workers and their managers (Great Place to Work) 🔻 22% of employees from marginalized groups becoming more likely to search for new jobs (Greenhouse) 🔻 No significant change in financial performance while guaranteeing damage to employee satisfaction (Ding and Ma, 2024) The thing is, we KNOW how to do hybrid work well at this point. 🎯 Allow teams to decide on in-person expectations, and hold people accountable to it—high flexibility; high accountability. 🎯 Make in-person time unique and valuable, with brainstorming, events, and culture-building activities—not video calls all day in the office. 🎯 Value outcomes, not appearances, of productivity—reward those who get their work done regardless of where they do it. 🎯 Train inclusive managers, not micromanagers—build in them the skills and confidence to lead with trust rather than fear and insecurity. Leaders that fly in the face of all this data to insist that workers return to office "OR ELSE" communicate one thing: they are the kinds of leaders that place their own egos and comfort above their shareholders and employees alike. Faced with the very real test of how to design the hybrid workforce of the future, these leaders chose to throw a tantrum in their bid to return to the past, and their organizations will suffer for it. The leaders that will thrive in this time? Those that are willing to do the work. Those that are willing to listen to their workforce, skill up to meet new needs, and claim their rewards in the form of the best talent, higher productivity, and the highest level of worker loyalty and trust. Will that be you?

💥 New homes are now CHEAPER than resale homes 💥   This marks a significant inflection point in the housing market, reversing the historical trend where new construction commanded a premium—often as much as 20% more than existing properties. The shift, which began during the pandemic with a narrowing of the price spread, has fully materialized over the past three months.   While new home prices can be influenced by changes in product offerings or location, our Zonda data, builder survey, and NewHomeSource.com trends all confirm that real price cuts are also occurring in the new home space.   Beyond the raw data, several additional factors make new homes even more compelling for buyers: - Lower insurance premiums. New homes typically incur lower insurance costs compared to existing properties due to modern building codes and materials. - Reduced maintenance. New construction offers a maintenance-free or lower-maintenance lifestyle, saving homeowners time and money on immediate repairs and upgrades compared to the resale market. - Enhanced energy efficiency. New homes are often more energy-efficient than existing homes, leading to lower utility bills and a reduced overall cost of living. - Attractive builder incentives. Builders continue to offer incentives (e.g. buydowns or design credits), providing extra perks to buyers that can further offset costs. Zonda Sarah Bonnarens Alexander Edelman Tim Sullivan Bryan Glasshagel Evan Forrest #housing #realestate #newhomes

You see bumper stickers in Texas that say things like "Don't California my Texas," and yet that's exactly what some Texas cities are starting to do -- adopting anti-multifamily policies that (in the long run) will inevitably backfire on housing affordability and availability. Here's the backstory: Earlier this year, Texas legislators passed a bipartisan bill requiring big cities and large suburbs to allow multifamily housing development in areas zoned for commercial use. So what did some cities do? They borrowed the playbook from cities like Los Angeles that spend more time plotting ways to skirt the state's housing development requirements than they spend actually solving the problem. In Irving, the city passed new laws requiring new apartments to include various new expensive amenities -- driving up construction costs (meaning fewer deals would work in any location, even those not in commercial locations), which means higher rents too. New apartments in Irving must have at least 8 floors (no garden properties!). The Texas Tribune reported buildings also "must include a swimming pool, a dog park, a gym and a workspace for remote workers. Builders must also pick from a menu of amenities to add, such as a yoga room, a place to wash pets or cars or a station for cyclists to repair their bikes." Arlington did similar. The Tribune wrote: "Arlington increased the number of residential amenities, like swimming pools or basketball courts, the city requires apartment builders to put on their properties. The city also enacted rules that at least 15% of parking spots must include electric vehicle charging stations." And there's Frisco. Oh, Frisco... From the Tribune: "Frisco has gone further than many of its North Texas counterparts, attempting a novel approach to sidestep the law altogether. The new law explicitly forbids apartments and mixed-use developments in zoning categories that also allow heavy industrial uses. The Frisco City Council changed its zoning code to allow heavy industry in the same places new housing is allowed under the law. The City Council retained the right to approve heavy industrial use in those places, an unlikely move given the city’s tony vibe." What a dishonest and dirty move by the city of Frisco. Do they really intend to allow heavy industrial like chemical manufacturing or oil refineries or mining? Surely they don’t, but they’re acting like a smart-alecky high school kid skirting an assignment and claiming innocence. These cities claim "we know what's best for our city and the state shouldn't tell us what to do," but that's a naive puffy-chest attitude reflecting cities that don't even realize they've adopted the California playbook. When you choke off housing, you drive up housing costs in the long run. Then, maybe decades from now, you'll have a housing shortage and an affordability crisis. And, like Los Angeles, you'll blame everyone but yourselves and your anti-housing policies. #housing #affordability

The Evolving Face of the US Homebuyer The National Association of Realtors' (NAR) 2024 report provides a fascinating snapshot of the US housing market’s buyer profile that looks significantly different than it did just a few years ago. The data reveals a changing homebuyer. The average buyer age has climbed to a record 56, underscoring the impact of high housing costs and rising interest rates that have sidelined younger would-be buyers. For first-time buyers, the average age is now 38, nearly a decade older than it was in the early 1980s. These changes signal a more mature buyer who brings accumulated wealth and likely more significant financial security to the table. Additionally, a fifth of all home purchases were made by single women, a notable demographic shift reflecting both a societal change in homeownership goals and an economic shift in who can afford to buy. By contrast, single men comprised only 8% of recent buyers. This snapshot highlights what many are calling a “bifurcated housing market,” where those able to buy homes are increasingly established, wealthier individuals, often using home equity from previous properties to secure cash purchases or make substantial down payments. This market has been largely inaccessible to younger buyers, who continue to face affordability challenges, limited savings, and reduced opportunities for financial support in the form of lower mortgage rates. With affordability gauges near record lows, first-time homebuyers hold a mere 24% share of the market, down dramatically from the 40% share held in pre-Great Recession years. Rising prices and interest rates have compounded these barriers, leading to a market where nearly three-quarters of all buyers have no children under 18 at home, reflecting an older and more established buyer profile than in decades past. While this report offers a look back, the trends it captures underscore a potential turning point. Recent mortgage application data suggests that prospective buyers who had previously been priced out or sidelined may begin to re-enter the market as interest rates stabilize. If these sidelined buyers do return, particularly younger and more diverse demographics, the profile of the typical buyer could again start to shift, gradually increasing diversity in age, household composition, and race among homebuyers. At Havas Edge, we’re continually analyzing these demographic shifts to support brands in delivering timely, targeted strategies that meet the realities of today’s buyers and the anticipated resurgence of those who’ve been waiting on the sidelines. #RealEstate #Homebuyers #MarketTrends #HousingEconomics #ConsumerInsights

I spent the week trying to answer the question: How can I build a property management company with zero human employees? After studying every AI tool in multifamily, I found something surprising. Here's what would happen if machines ran your apartment building: A few months ago, I designed a hypothetical zero-employee development firm. Now, I'm tackling property management. I can't stop thinking about how close we are to this reality. From leasing to maintenance, there's now an AI tool for almost every step. So I designed a hypothetical property management company with zero employees: Asimov Management. The goal: a full-service multifamily property manager that happens to have no full-time staff. For this to work, we'll use AI and automation to cover: • Marketing and leasing • Pricing optimization • Virtual and self-guided tours • Tenant screening and onboarding • Customer service • Maintenance coordination • Renewals and reporting While the tech isn't 100% there yet, here's what I learned: What's already possible: → AI-powered leasing assistants handle most prospective tenant questions → Self-guided tours work through automated access control systems → Maintenance requests can be routed to third-party gig workers → Renewal offers can be automatically generated and negotiated Where we're stuck: → Physical maintenance still requires humans (robots can't fix toilets...yet) → Many residents still prefer talking to a human at a front desk → Preventative maintenance relies on technicians' intuition → Larger buildings (250+ units) struggle with full automation The reality: • The most valuable application isn't replacing property managers • It's giving them superpowers to handle more properties with less effort Here's what this means for property management: • Class definitions may shift as service expectations change • Tasks will be centralized rather than eliminated • Resident preferences may actually evolve to favor AI interactions • The best operators will blend automation with strategic human touchpoints From my experience founding Common in 2015, I learned something critical: The approaches that worked well at 50-unit properties often broke at 250 units. Technology can centralize most functions. But, some residents always prefer walking to the front desk rather than using an app. This could change as AI improves. Meaning residents may prefer the predictability of AI over unpredictable humans. We're already seeing this in ride-sharing, where Waymo beats Uber and Lyft in user retention. So how close are we to machines running property management? Perhaps far closer than we expect. What parts of property management do you think AI will transform first? Full letter on how I designed Asimov Management is linked in the comments.

Students and professionals have been struggling with rental issues for years. Renting a house meant unregistered agreements, random deposit amounts, sudden rent hikes, and landlords cutting water or electricity during disputes. In 2025, that era is finally ending. → The new Rent Rules bring real structure. Security deposits capped at two months. Mandatory written and online agreements. No surprise rent hikes. No switching off utilities to force tenants out. And eviction only through a legal order, not intimidation. Tenants get clarity, landlords get proper process, and the housing market gets transparency instead of guesswork. → This shift won’t just reduce fights, it will make renting feel safer and more predictable for millions of people who move cities for work or study. If implemented well, this might be the biggest mindset change India’s rental economy has ever seen.

The real gap between digital leaders and laggards isn’t just in technology—it's in mindset. The 𝐃𝐢𝐠𝐢𝐭𝐚𝐥 𝐃𝐢𝐯𝐢𝐝𝐞 isn’t about who has the best tools; it’s about who knows how to wield them. The difference between average and excellent isn’t in the number of systems implemented but in the strategic intent behind them. True digital transformation isn’t just an IT initiative—it’s a company-wide movement, a reimagining of what’s possible when leadership, innovation, and agility align. 𝐖𝐡𝐚𝐭 𝐀𝐯𝐞𝐫𝐚𝐠𝐞 𝐋𝐨𝐨𝐤𝐬 𝐋𝐢𝐤𝐞: • 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐲-𝐅𝐨𝐜𝐮𝐬𝐞𝐝 𝐋𝐞𝐚𝐝𝐞𝐫𝐬𝐡𝐢𝐩: CIOs and CTOs leading the charge, with an inward focus on IT infrastructure. • 𝐄𝐟𝐟𝐢𝐜𝐢𝐞𝐧𝐜𝐲 𝐎𝐯𝐞𝐫 𝐈𝐧𝐧𝐨𝐯𝐚𝐭𝐢𝐨𝐧: Tracking efficiency and business performance without a broader view towards future capabilities. • 𝐂𝐚𝐮𝐭𝐢𝐨𝐮𝐬 𝐏𝐫𝐨𝐠𝐫𝐞𝐬𝐬: Proceeding with digital steps without the urgency to outpace the evolving market demands. • 𝐎𝐩𝐞𝐫𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐒𝐭𝐚𝐛𝐢𝐥𝐢𝐭𝐲: Maintaining the status quo in operations, favoring predictability over agility. • 𝐒𝐭𝐚𝐧𝐝𝐚𝐫𝐝 𝐓𝐨𝐨𝐥 𝐀𝐝𝐨𝐩𝐭𝐢𝐨𝐧: Providing employees with collaboration tools without fostering a culture of digital innovation. • 𝐁𝐚𝐜𝐤𝐞𝐧𝐝 𝐏𝐫𝐢𝐨𝐫𝐢𝐭𝐢𝐳𝐚𝐭𝐢𝐨𝐧: Concentrating on backend upgrades before considering the customer-facing aspects of the business. • 𝐒𝐢𝐥𝐨𝐞𝐝 𝐃𝐚𝐭𝐚 𝐔𝐭𝐢𝐥𝐢𝐳𝐚𝐭𝐢𝐨𝐧: Using data for routine business operations rather than as a cornerstone for transformation and innovation. 𝐖𝐡𝐚𝐭 𝐄𝐱𝐜𝐞𝐥𝐥𝐞𝐧𝐭 𝐋𝐨𝐨𝐤𝐬 𝐋𝐢𝐤𝐞: • 𝐋𝐞𝐚𝐝𝐞𝐫𝐬𝐡𝐢𝐩 𝐟𝐫𝐨𝐦 𝐭𝐡𝐞 𝐓𝐨𝐩: Transformation championed by CEOs, integrating digital priorities within the company’s vision. • 𝐂𝐨𝐦𝐦𝐢𝐭𝐦𝐞𝐧𝐭 𝐭𝐨 𝐈𝐧𝐧𝐨𝐯𝐚𝐭𝐢𝐨𝐧: Measuring success through the lens of innovation and digital proficiency. • 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐜 𝐀𝐜𝐜𝐞𝐥𝐞𝐫𝐚𝐭𝐢𝐨𝐧: Not merely adapting but actively advancing digital initiatives, even in challenging economic climates. • 𝐎𝐩𝐞𝐫𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐀𝐠𝐢𝐥𝐢𝐭𝐲: A culture that embraces operational efficiency as a path to competitive advantage. • 𝐏𝐞𝐨𝐩𝐥𝐞 𝐚𝐬 𝐏𝐫𝐢𝐨𝐫𝐢𝐭𝐲: Investing in employee engagement and digital literacy, recognizing that technology amplifies human potential. • 𝐂𝐮𝐬𝐭𝐨𝐦𝐞𝐫-𝐂𝐞𝐧𝐭𝐫𝐢𝐜 𝐄𝐯𝐨𝐥𝐮𝐭𝐢𝐨𝐧: Prioritizing the customer experience with a strategy that adapts proactively to their needs and behaviors. • 𝐃𝐚𝐭𝐚-𝐃𝐫𝐢𝐯𝐞𝐧 𝐃𝐞𝐜𝐢𝐬𝐢𝐨𝐧𝐬: Leveraging AI and data analytics not only to inform decisions but to foster a culture of continuous improvement. 𝐅𝐮𝐥𝐥 𝐚𝐫𝐭𝐢𝐜𝐥𝐞: https://lnkd.in/eU_Cc3ga ******************************************* • Visit www.jeffwinterinsights.com for access to all my content and to stay current on Industry 4.0 and other cool tech trends • Ring the 🔔 for notifications!

The Missing Middle is Still Missing: Why I Believe We Need More Than Just Luxury and LIHTC In most cities, we have two dominant housing models: -Luxury apartments with rooftop decks and garage parking, funded by private capital, marketed at the highest rent the market will bear. -Affordable housing financed through Low-Income Housing Tax Credits (LIHTC), often restricted to those earning 30%–60% of Area Median Income. What’s missing is everything in between. What is “Missing Middle Housing”? Missing Middle Housing refers to the types of homes that used to be common but have largely disappeared from new construction: -Duplexes -Fourplexes -Bungalow courts -Walk-up apartments above corner stores -Small multi-family homes in walkable neighborhoods -Creative infill developments These housing types fill a crucial need for working-class people, teachers, firefighters, baristas, social workers, and young families who don’t qualify for LIHTC housing but also can’t afford luxury rent or a down payment on a single-family home. Why It’s Still Missing The reason we don’t see more of this is not because there’s no demand. It’s because our systems actively work against it. Zoning laws that ban multi-family housing in most neighborhoods Parking requirements that inflate costs and reduce feasibility Financing models that favor large-scale over small-scale development Public resistance to change, often rooted in misinformation or exclusion Developers aren’t incentivized to build Missing Middle housing. Cities rarely streamline it. And when we talk about housing policy, this middle tier gets lost in the noise between high-end and deeply affordable. What We Need to Change *We need zoning that allows for gentle density. *We need capital that supports small-scale, context-sensitive development. *We need public conversations that value housing diversity as a community strength. We also need to stop pretending that LIHTC alone can solve our affordability crisis. It’s one tool. A powerful one, yes. But it cannot be the only strategy on the table. It’s Time to Build the Middle When we build only for the top and the bottom, we leave out the majority of our communities. We erode economic mobility. We undermine walkability. We disconnect our neighborhoods from the people who hold them together. If we’re serious about equitable cities, we have to bring back the middle. Not just in price point, but in form, in access, and in who gets to live where.

100 families. 3D printed homes. $26 electricity bills in 100°F heat. Georgetown, Texas. Where 11 robots build what humans can't afford. Each Vulcan printer: 45 feet wide. Operates 24/7. Lays Lavacrete concrete like a massive 3D printer. Two homes completed every week. Families already moved in. First summer electricity bills arrived: $26. In Texas. In August. Think about that. The numbers that matter: ↳ Wall construction: $34/sq ft (was $150-200) ↳ Total savings: $25,000 per home ↳ Build time: 3 weeks (was 6 months) ↳ Zero weather delays Lennar, America's second-largest homebuilder, started with 2 robots. Now 11. They're doubling this neighborhood because families are lining up. Watch how it works: Lavacrete flows in precise layers. Creates curved walls impossible with wood. Thermal mass that laughs at Texas heat. Fire can't touch it. Mold can't grow. Hurricanes irrelevant. Traditional Building Reality: ↳ 65% of young adults priced out ↳ 30% materials wasted ↳ Endless weather delays ↳ Energy bills crushing families What 3D Printing Delivers: ↳ Homes under $400,000 ↳ Near-zero waste ↳ 300-year durability ↳ $26 monthly cooling But here's what stopped me cold: A young engineer moved his family here specifically for this innovation. His newborn daughter will grow up in walls built to outlast empires. Her monthly cooling bill throughout childhood: less than a single toy. Oolly Feekings, retired, opened her August bill expecting hundreds. Found $26. In her old colonial home, AC ran constantly. In printed concrete, the walls themselves keep her cool. The Multiplication Effect: 100 homes = working model 1,000 = builders switching 10,000 = prices dropping everywhere At scale = housing accessible again From 2 robots to 11 in two years. From experiment to expansion. From skepticism to sold out. Georgetown today. Your neighborhood tomorrow. We're not printing the future of housing. We're printing homes for people who need them now. Follow me, Dr. Martha Boeckenfeld for innovations solving real problems today. ♻️ Share if housing should be accessible, not impossible. #3DPrinting #AffordableHousing #Innovation