US Economy Shrinks, White House Signs Forestry Order, CoStar Acquires Matterport

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US Economy Shrinks

The US economy has taken a sharp downward turn, with the latest data from the Atlanta Federal Reserve’s GDPNow tracker showing a stunning 1.5% contraction in the first quarter. Just days ago, the forecast was a 2.3% growth. This marks a dramatic shift from the previous quarter when the economy expanded by 2.3%.

The slowdown comes amid rising trade deficits, weaker consumer spending, and concerns over the President’s tariffs and federal job cuts. January’s trade deficit hit a record $153.3 billion, driven by soaring imports and sluggish exports. Meanwhile, consumer spending slumped at the fastest rate in four years, likely impacted by both unseasonably cold weather and economic uncertainty surrounding tariff policies.

While one quarter of contraction does not define a recession, economists are concerned. Though some remain cautious, projecting a possible rebound, others warn that the combination of tariffs, job cuts, and trade imbalances could signal a stagflationary shock. As key economic indicators worsen, many are watching closely for the official labor data release later this week. All eyes are on the Federal Reserve uses this and other data to decide on whether to loosen the flow of money. While the Fed doesn’t decide on mortgage rates, they influence higher mortgage rates by restrictive policies.

Source: Link

White House Signs Forestry Order,

The President has signed an executive order aimed at streamlining forest management in the wake of the devastating wildfires that ravaged Los Angeles in January, claiming at least 29 lives. The order seeks to expedite federal permitting for forestry projects, including brush clearing and timber removal, by bypassing delays caused by environmental regulations, such as the Endangered Species Act.

Trump has repeatedly blamed California’s environmental policies for poor forest management, which he argues contributes to the state’s frequent and deadly wildfires. California Governor Gavin Newsom, however, defends the state’s efforts, citing $2.5 billion in investments to address forest management.

The new order also aims to boost domestic timber production by simplifying the regulatory process for timber thinning and salvaging damaged trees. This move is intended to reduce the U.S.’s reliance on timber imports from countries like Canada and Brazil while potentially lowering housing and construction costs.

Critics, including environmental groups, are expected to push back against the order. Additionally, Trump has directed Commerce Secretary Howard Lutnick to explore tariffs on timber imports, further escalating trade tensions.

Source: Link

CoStar Acquires Matterport

CoStar Group has officially completed its acquisition of Matterport, the leader in 3D digital twin technology, ushering in a new era of innovation in real estate. The merger will combine CoStar’s vast property data and online marketplaces with Matterport’s cutting-edge AI-powered property insights, revolutionizing the way residential and commercial spaces are experienced and marketed.

By streamlining property analytics and accelerating the adoption of digital twin technology, the two companies aim to provide deeper insights for buyers, sellers, and renters across the globe. This move also promises to optimize operational efficiency and enhance remote property exploration as demand for data-driven real estate decisions grows.

Together, CoStar and Matterport are positioning themselves to lead the digital transformation of the $327 trillion real estate market, with a focus on AI, machine learning, and next-generation property insights. The future of real estate is now—powered by digital twins and AI.

Source: Link

Disclaimer: This content is for informational purposes only and reflects publicly available information. It should not be considered legal advice or a definitive statement on any legal matters.

 

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