Spotlight

Market Update | Feb 24

Jon Granston | March 28, 2025

Filtering through this weeks headlines...

Top Headlines: Delivered by Granston Group | Leonard Steinberg

February 24, 2025

01 England alone had more than 700,000 “vacant dwellings” in October 2024. The character of their vacancy is hugely varied, as is the viability of these properties, either in quality or location. Around 37% are empty long-term. In the fourth quarter of 2024, 10.2% of housing units in the US were vacant. The rental vacancy rate in the fourth quarter of 2024 was 6.9%.

(FT)

02 Real Estate cannot be lost or stolen, nor can it be carried away. Purchased with common sense, paid for in full, and managed with reasonable care, it is about the safest investment in the world.

– Franklin D. Roosevelt

03 Del Mar: Currently experiencing 3 to 4-foot waves with fair conditions. The primary swell is coming from the west at 2.6 feet with a 14-second interval. Winds are light at 4 mph from the west-northwest. Water temperature is approximately 59°F.

Encinitas: Similar surf conditions with 3 to 4-foot waves and fair conditions. Surfers can expect consistent swells and light winds, making it ideal for various skill levels.

(Surf Captain/Surfline)

04 Big changes are coming to San Diego’s Liberty Station with The Admiral, a $15 million project by Ryan Thorsen, owner of Mister A’s. This development will transform seven acres of vacant land, repurposing five historic WWII-era buildings into a vibrant hub.

Expect a restaurant, canteen, game room, event venue, and cocktail bar—all inspired by the 1920s-1940s. With a blend of history and modern design, The Admiral will bring new life to the area.

Breaking ground in 2025 and set for completion in 2026, this is one to watch!

05 Stock markets in Europe and China are vastly outperforming the U.S. so far in 2025, as measured by competing global benchmarks.

(CNBC)

06 Lakehouse Food & Wine Festival: Set for April 26, 2025, from 1 PM to 4 PM (12 PM entry for VIPs), this festival at the Lakehouse Resort in North County San Diego features over 30 vendors, including restaurants, breweries, and wineries, offering unlimited samples of food and drinks.

(The Lakehouse Resort)