There's a housing shortage and an office glut. So why are there only 217 U.S. office-to-resi conversion projects in the pipeline? | Google: Political adverts must disclose use of AI | Abortions Rose in Most States This Year, New Data Shows

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Don't like ads? Go ad-free with TradeBriefs Premium There's a housing shortage and an office glut. So why are there only 217 U.S. office-to-resi conversion projects in the pipeline?    In a post-pandemic world marked by a significant shift towards hybrid and remote work, offices are becoming increasingly vacant. In fact, as much as 330 million square feet of U.S. office space could become vacant by 2030, according to an early 2023 report by global real estate firm Cushman & Wakefield. What’s more is an extra 740 million square feet of office space could be vacant from “natural causes” by 2030, Cushman & Wakefield adds, which leaves about 1 billion square feet of unused office space in the U.S. alone. That’s nearly 1.5 times the amount from the end of 2019 right before the pandemic began, according to Cushman & Wakefield. “It’s not a secret that [office] vacancy is at a 30-year high right now. It’s around 18%,” Julie Whelan, CBRE’s global head of occupier research, tells Fortune. “So the question is is that vacancy going to stay there for the long term? Or is it going to recede back as the economy gets better, and occupiers start to lease space again?” One seemingly viable solution for the glut in office space is turning the unused properties into multi-family residential units. This reimagining and reuse of space through office-to-resi conversions  could help to ease the undersupply of residential units in the U.S.—which is “structurally short” an estimated 2 million housing units, according to Morgan Stanley. “Aggressive” projections from Morgan Stanley even show that the U.S. could be underbuilt by 6 million units. Continued here Google: Political adverts must disclose use of AI    Google will soon require that political ads on its platforms let people know when images and audio have been created using artificial intelligence (AI). The rules have been created as a response to the "growing prevalence of tools that produce synthetic content", a Google spokesperson told the BBC. Google's existing ad policies already ban manipulating digital media to deceive or mislead people about politics, social issues, or matters of public concern. Continued here Abortions Rose in Most States This Year, New Data Shows    Legal abortions most likely increased in the United States in the first six months of the year compared with 2020, an analysis of new estimates shows, as states with more permissive abortion laws absorbed patients traveling from those with bans and access to abortion pills via telemedicine continued to expand. New research from the Guttmacher Institute offers the latest view of legal abortions since the Supreme Court’s Dobbs decision last year upended access to abortion nationwide and allowed more than a dozen states to ban or restrict the procedure. The data suggests that thousands of women have crossed state lines to obtain an abortion, in the face of restrictions at home. It also indicates a rise in abortions among those living in states where the procedure is legal. Continued here

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