Bill aims to clarify independent contractor status | A hit TV show can make—and break—local housing markets | Influencer marketing spend poised to top $34B
Spending on influencer marketing is on pace to increase 16.9% globally this year and top $34 billion, with the U.S. accounting for more than $26 billion and 17.6% growth, according to PQ Media. The growth will primarily be fueled by macro and microinfluencers touting brands across multiple social platforms that are heavily weighted toward younger consumers and entertainment, fashion and sports. Full Story: MediaPost Communications (free registration) (9/12)
Property Brothers: Ditch these 1980s home trends Jonathan and Drew Scott, also known as The Property Brothers, advise against retaining certain 1980s home trends, including mirrored walls, sunken living rooms and decorative window bars. They highlight the outdated nature of these design elements in an episode of "Property Brothers: Forever Home," while showcasing their removal and replacement with more modern alternatives. Full Story: Homes & Gardens (9/13)
How rise in inflation affects mortgages, buyers The latest report from the Labor Department reveals that inflation increased by 3.7% in August, with the Consumer Price Index rising by 0.6%. This surge in inflation could potentially lead to adjustments in benchmark interest rates, affecting mortgage interest rates, which are already at a 22-year high. Full Story: CBS News (9/13)
Technology & Innovations
Research reveals pitfalls of AI-driven ad platforms Granular reporting limitations among AI-based platforms like Google's Performance Max fail to reveal bots that drive clicks and siphon away affiliate dollars are indicative of widespread platform inefficiencies and make it hard for marketers to pinpoint specific channels, per a TrafficGuard report. TrafficGuard CEO Mat Ratty says using AI-buying systems without third-party auditing can unknowingly pump money into "a high-speed AI-optimized invalid traffic infiltrated machine." Full Story: Campaign US (tiered subscription model) (9/12)
Amazon invests millions in affordable homeownership Amazon is allocating $40 million to extend its affordable housing efforts to low- and middle-income families in the D.C. region as part of a broader initiative to promote homeownership among underserved groups in areas where the company has a significant presence, including Seattle and Nashville, Tenn. Amazon is partnering with the nonprofit National Housing Trust to provide grants and loans to housing developers and organizations to create affordable home-ownership opportunities, aiming to address wealth disparities and housing affordability issues in these high-cost regions. Full Story: The Washington Post (9/13)
Legislation & Regulation
Report: Policy changes would increase housing supply Changes in policy could produce about 300,000 more housing units in New York City over a decade, according to a report from the RAND Corp. think tank. Increasing housing stock would also enhance affordability, because "you can't ever really increase long-term affordability if there's much more demand than there is supply," says economist Jason Ward, the report's lead author. Full Story: Smart Cities Dive (9/12)
State lawmakers vote to extend housing development law California lawmakers have passed legislation that would extend a housing law designed to streamline the bureaucratic process for the development of multifamily projects. The legislation applies to cities that are lagging behind in their housing goals. Gov. Gavin Newsom has until Oct. 14 to sign or veto the measure. Full Story: Los Angeles Times (tiered subscription model) (9/11)
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