Editor’s note: Refrains on real estate’s next chapter

Chat GPT turns one this month. 
The world is changing fast.  

More war.  
A president on trial (see the latest).  

So much office distress. 
Multifamily troubles, too. 

Nobody’s selling homes,  
or buying something new. 

Money’s tight.
Banks aren’t lending. 

Politicians talk. 
Nothing’s happening.  

People can’t afford a place to live.  
Yet no one’s building new. 

The 1% keep getting richer. 
They’re still making moves. 

Time for the next generation.  
The old ideas don’t work. 

Maybe a tattooed real estate mogul
can remake his father’s legacy
with his own consigliere 
and family protégés (see the cover story).

It’s time for women  
to take over family dynasties. 

Meanwhile, NAR is getting pummeled  
in the courts and in the boardroom.

Fraud is rearing its ugly head  
in Florida, as usual.

But there may be a bottom 
in San Francisco, no less.  

Local investors are buying low —
they see beyond the doom.

And the best hustlers
still broker deals.

From Miami  
to Chicago.

In a topsy-turvy world, 
they’re finding opportunities.  

Enjoy the issue!