Facilities and Real Estate

Benjamin Keys of the Wharton School says that growing risks from climate change and rising reinsurance costs have caused insurers to raise premiums and pull out of markets, abandoning homeowners.

Postdoc Matthew Fowle of the Weitzman School of Design says that from an equity perspective, it doesn’t make sense for most housing policy to be directed at homeowners.

CEO Kevin Mahoney of Penn Medicine says that the health system’s ambitious multimillion-dollar pipeline of construction projects is likely to be slowed due to labor shortages, rising supply costs, and declining federal government support tied to the COVID-19 pandemic.

Benjamin Keys of the Wharton School says that costs of living on the coast haven’t reflected the true risks for a while but that the riskiness of coastal flooding is accelerating.

A study by Susan Wachter and Shane Jenson of the Wharton School finds that cleaning vacant lots in Philadelphia neighborhoods increased property values for nearby homes.

Susan Wachter of the Wharton School expects home prices to fall 5% to 10% nationally in 2023 but find a floor as markets gain confidence that inflation is under control.

Susan Wachter of the Wharton School says that banks’ shift away from involvement in the mortgage market has been driven by the growth of regulations on banks around mortgage lending.

The University of Pennsylvania Health System and Virtua Health held a grand opening ceremony for their $45 million proton therapy center in Voorhees, seven years after the beginning of their clinical partnership.

The Penn Bookstore is noted as one of the few public evening spaces remaining after the pandemic, with remarks from Associate Vice President Anthony P. Sorrentino and Dennis Culhane of the School of Social Policy & Practice.