Almost exactly one month after the cryptocurrency trading firm FTX went bankrupt the cofounder and former CEO, Sam Bankman-Fried, was arrested in the Bahamas after the U.S. attorney for the Southern District of New York shared a sealed indictment with the Bahamian government…(CNBC)
In Other News
- How Did the Housing Market Get So Unaffordable for So Many?: if we scratch a little below the surface, it reveals that the recent volatility in the housing market has been a long time in the making, and that achieving stability will require leaving behind outdated policy frameworks…(Wall Street Journal)
- Office conversions not going according to plan: The heralded conversion of half-empty downtown office space into much-needed housing has not materialized. At all. According to a report published by CBRE last month, there have been only 42 completed office conversions in the entire country this year, one fewer than last year’s 43 and on par with the 2019 figure…(Slate)
- CONOR SEN: As the pipeline empties, lower costs and mortgage rates should kickstart a new wave of construction in 2023, even if it requires uncomfortable price cuts…(Bloomberg)