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Oil and cattle are the iconic business touchstones for Texas.But it’s real estate development where the Lone Star State really lead Last year, Texas was the top U.S. state for commercial real estate development contributions to the economy.
With more than $24 billion in direct construction spending in Texas, the building sector contributed almost $59 billion to the state’s economy, according to a new report by the NAIOP, the Commercial Real Estate Development Association. The sector supports almost 380,000 jobs in the state, the new study finds. And Texas leads the country in warehouse and retail development. Only California has more office development than Texas, the NAIOP finds.Nationally, the commercial property sector supports 7.6 million jobs and contributed $935.1 billion to the U.S. economy in 2017.Construction started on more than 524 million square feet of office, retail, warehouse and industrial space around the country last year.
“The importance of commercial development to the U.S. economy is well established, and the industry’s growth is critical to creating new jobs, improving infrastructure, and creating places to work, shop and play,” Thomas Bisacquino, NAIOP president and CEO, said in a statement. “Commercial real estate is a robust contributor to national and state economies.”
Direct expenditures for U.S. construction in 2017 surpassed $1.2 trillion dollars — the highest total in a decade.
According to Maxwell, the test of what is ethically acceptable or unacceptable in the business context is exactly the same as that which applies in our everyday, non-work circumstances. For him, it is all summed up in one principle, The Golden Rule. “Do unto others as you would have them do unto you.” If you follow that, your behavior will be ethical; if you depart from it, it won’t be. At work or at home, in the office or in the neighborhood.
A delightful little book by John Maxwell is provocatively titled, There’s No Such Thing as Business Ethics. Now some might simply think, “no kidding.” But for the curious, or those inclined to disagree, Maxwell’s book makes an interesting argument. His point is not that all of business is unethical. Rather, he disagrees with the point of view that the operative ethical principles of business are somehow specialized and different from (occasionally, contrary to) the ethical principles that govern our everyday lives.
I believe that Maxwell is correct that ethics in the context of business is simply an extension of ethics in general. There aren’t special exceptions for business. It’s as wrong to lie to your competitor as it is to lie to your neighbor. All of us, of course, have encountered different attitudes. We have heard “But this is business” said as if it meant “Anything goes”. Certainly, some people feel that way. People who would never cheat in a neighborhood card game can be perfectly content to deceive their customers or rip off their suppliers. But this doesn’t show that such people are operating according to a special “business ethic”; rather, it simply reveals that, in the context of business, they have made the decision to be unethical.
If it is true that ethics in business and ethics in everyday life are the same, it is legitimate to ask, why are codes of professional ethics sometimes so complicated?
The National Association of REALTORS® is rightfully proud of its Code of Ethics, a document first formulated in 1913, and amended at more that 30 different national conventions since then. With 17 articles, supplemented by over 70 Standards of Practice and more than 140 official Case Interpretations, it presents a complex set of documents.
Nor is the NAR® Code of Ethics a unique phenomenon. There are hundreds of professional and trade group codes of ethics. Physicians, lawyers, funeral directors, and wedding planners — to name just a few — all have professional codes of ethics. So also do many individual companies and corporations. They vary, of course, in range and complexity. How is it that professional codes can become so complicated? People need to understand that there are various purposes served by professional codes, although not every code serves them all.
(1)They bring to our attention and provide direction with respect to issues that might not otherwise even have been identified as matters for an ethical concern. While ethical principles may remain the same, frequently the circumstances encountered in business are quite different than anything we experience in the non-business world. A professional code can help us to decipher those situations.
(2) In many situations they provide us with the wisdom and insight of those who have preceded us. Quite simply, they save us the trouble of reinventing the wheel.
(3) Professional ethics codes sometimes also cover matters that are not so much ethical as they are issues of professional etiquette or proper procedure. They help to keep professionals “on the same page” when they are interacting with each other.
(4) Professional ethical codes are also sometimes used for the purposes of “drawing lines” in order to remove any unclarity about what may be considered acceptable or unacceptable. They help to remove the “shades of grey” that can be found in so many situations.
Professional codes, such as that of the Realtors’, are based on everyday ethical principles. Their value resides in the fact that they show us how those principles apply to specific business contexts that well may not be “everyday”.
We look at five standout residences that have serious space for cars, boats, and any other outdoor toys.
6501 South County Line Road (Burr Ridge, Illinois)
A 22-car heated garage is the standout star of this 30,000-square-foot estate. The eight-bedroom property, located just 30 minutes from downtown Chicago, also includes another 15,000 square feet of covered terraces. After attending to your automotive collection, retire to an imperial master suite that includes a custom walk-in dressing room and two separate showers. You can then enjoy a meal prepared from the expansive, pro-grade kitchen and relax in any of the outdoor living spaces. It is listed through Christie’s International Real Estate/Conlon for $10.95 million.
The home has a 22-car garage. Photo Credit: Courtesy568 Senanus Drive (Saanichton, B.C.)
If most of your toys are of the maritime variety, this waterfront estate 30 minutes north of Victoria is the home for you. The 5.95-acre parcel has 800 feet of shoreline with two deepwater docks and a registered boathouse. Inside, the 10-bedroom main house features classic Pacific Northwest decor with updated styling, bay-facing windows, and a totem pole rising in the midst of the home’s main staircase. Should you need a break from tending to your vessels, the property also includes horse stables, a riding ring, and a separate recreation center. It is on sale through Christie’s International Real Estate/Newport Realty for $4.54 million.The property includes two deep-water docks and a boathouse. Photo Credit: Courtesy8593 South Albion Basin Road (Alta, Utah)
This four-bedroom residence is located just minutes above the Alta ski resort—and it even includes a Snowcat to get you to town. The nine-passenger machine glides through the heavy Utah winter with ease (the gravel road is easy to navigate in the summer). The property itself is an architectural beauty designed to take advantage of dramatic mountain views from every room. It’s available through Luxury Portfolio International/Windermere Real Estate Utah for $3.9 million.The home comes with your very own Snowcat. Photo Credit: Courtesy6479 144th Avenue (Holland, Michigan)
This ultimate lake house sits on 40 gated acres near the eastern shore of Lake Michigan. While the four-bedroom residence is special on its own, the property’s defining feature is a short walk down a temperature-controlled tunnel. That walkway leads to a 12,000-square-foot, two-story garage capable of housing all of your weekend machines. The building was conceived both as a shop for works in progress and as a place to show off the end results. You’ll also be able to entertain plenty of friends and family on the custom outdoor terrace with prep space and in-ground pool. The sum of its features equals a special getaway excellent for a quick stay or long-term rest and relaxation. It is listed through Beacon Sotheby’s International for $4.95 million.
This lake property comes with a two-story garage. Photo Credit: CourtesyOceana Bal Harbour (Miami, Florida)
The former Bal Harbour Club in Miami is being transformed into a striking 28-floor, 240-unit oceanfront condominium building. Those lucky enough to own one of its eight penthouses (priced from $25 million) will have access to a private underground garage with enough room to park four cars. Having a penthouse with its own four-car garage is a perk rarely found in residential condominiums—and it’s especially unusual in Miami buildings because of the city’s low water levels. Residents can request any of their prized cars through a valet app service; washing and cleaning is offered on-site, as well.
The penthouses come with four-car garages. Photo Credit: Courtesy
Measures to improve overcrowded and dangerous living conditions of private tenants in shared homes were laid before Parliament yesterday (15 March 2018) by Housing Minister Heather Wheeler. Councils are being given tough new powers to tackle the small minority of rogue landlords who rent out overcrowded properties and impose fines of up to £30,000 for […]
From October councils will be able to set minimum bedroom size standards and also introduce limits on how many people can live in each bedroom of a licenced multiple occupancy home. Councils will be able to use national minimum standards or apply even tougher requirements in order to address specific local needs.
This move will help ensure tenants have the space they need and deserve as well as reduce health and safety risks they face by sharing cooking and washing facilities with too many people.
The new standards will apply to all landlords seeking new licences. Landlords of existing properties will be given up to 18 months to make necessary changes when re-applying for a licence when it expires.
In a move to stop rubbish piling up outside some shared rented homes, often presenting health risks and blighting neighbourhoods, landlords will also be required to provide adequate waste storage facilities in line with their local authority’s rules. If they fail to do so they could face a fine. These latest measures build on wider government action to drive up standards in the private rented sector by tackling bad landlords. This includes the launch of a new database of rogue landlords and introduction of banning orders for the worst offenders coming into force next month.
Minister Heather Wheeler said:
“Everyone deserves a decent and safe place to live. But some tenants are being exploited by a minority of unscrupulous landlords who profit from renting out cramped and sometimes squalid or dangerous properties.
“Today’s measures will mean landlords must provide adequate space for their tenants or face a hefty fine. It is part of a raft of new powers for councils to crack down on rogue landlords and comprehensive action we are taking to improve conditions for private tenants.”
