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A crypto millionaire has launched a nationwide treasure hunt, hiding valuables worth millions, including bitcoin, Olympic gold medals, and rare artifacts, in five puzzle boxes across the U.S. His book, “There’s Treasure Inside,” provides clues for seekers, emphasizing safety and accessibility. Collins-Black spent over two million dollars on the treasure, which is expected to increase in value due to Bitcoin's recent surge.
Boston Mayor Michelle Wu's plan to temporarily raise commercial property taxes has encountered delays due to new data suggesting the impact of declining office building values on the city's tax system may be less severe than expected. The city, heavily reliant on property tax revenue, faces challenges amid a nationwide drop in office demand. State Senator Nick Collins has again postponed action on the proposal, emphasizing the need for further review of the latest tax assessment data.
JPMorgan Asset Management is shifting its focus from direct lending to real estate and private equity, highlighting a potential turnaround in commercial real estate. Opportunities are emerging in commercial mortgage-backed securities, non-traded real estate investment trusts, and direct investment vehicles, according to chief market strategist Gabriela Santos.
The SP is advocating for an additional CHF 250 million in municipal housing subsidies for Zurich's 2025 budget, despite a projected deficit of CHF 226 million. However, the Greens and AL oppose the proposal, prioritizing infrastructure investments instead. The FDP criticizes the SP's plan as a misuse of taxpayer funds, arguing that increased market intervention won't resolve the housing crisis.
Home insurance costs are set to become a major affordability issue, particularly in disaster-prone areas like Florida, where average premiums can exceed $5,500 annually. As insurance companies leverage technology to assess risks, homeowners in high-risk locations may face significant rate increases, making it crucial to consider insurance costs early in the home-buying process. Upgrading homes to mitigate weather damage can help reduce premiums, emphasizing the need for ongoing risk management.
Phantom Wallet has expanded its support to the Sui network, enhancing its multichain capabilities alongside Bitcoin, Ethereum, Polygon, and Base. This integration comes as Sui's value has surged over 100% in the past month, now boasting a market cap of $10.8 billion and ranking eighth in total value locked at $1.5 billion. Phantom's CEO praised Sui's scalability and developer-focused solutions, indicating a promising future for both platforms.
A historic intergenerational wealth transfer of approximately $105 trillion is set to occur in the United States over the next 25 years, according to Cerulli Associates. This staggering amount is comparable to the global GDP for 2023, yet most Americans are expected to inherit little from this windfall.
Abu Dhabi’s ruling Al Nahyan family has acquired a mansion in London’s Holland Park for £61.5 million ($78.1 million), one of the year’s priciest residential purchases in the city. The luxurious property features a swimming pool and a cinema room, according to sources familiar with the transaction.
A UBS study reveals that the number of billionaires surged by 50% over the past decade, reaching 2,682 in April 2024, with their total wealth more than doubling to $14 trillion. Tech billionaires led this growth, tripling their wealth to $2.4 trillion, driven by advancements in industries like AI and robotics. Looking ahead, 40% of billionaires plan to invest more in real estate and equities, while others are considering safe havens like gold amid rising geopolitical risks.
A Dubai-based digital platform, Stake, is set to invest 1 billion riyals ($266 million) in Saudi real estate over the next six months, capitalizing on growing foreign interest. The firm is acquiring a fully-rented mall in Riyadh for 187 million riyals and plans to purchase a residential tower with over 140 apartments for 200 million riyals.
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