Good morning! Tulum’s real estate crash exposes risks in paradise, and London homes grow more affordable.

Manhattan’s real estate scene is buzzing—Naftali’s $800 million tower purchase signals strong investor confidence, while median rents hold steady at $4,500 despite intense demand.

Bidding wars now hit 27% of new leases. Meanwhile, markets face uncertainty: stocks dipped after a historic rally, with Trump’s tariff pause (10% for most, 145% for China) driving volatility. Inflation eased to 2.4% in March, and jobless claims at 223,000 show a resilient labor market.

Tulum, Mexico’s beachside paradise is reeling from a real estate crash-and-burn.

A pandemic-fueled boom drew investors with promises of luxury condos—think infinity pools and jungle yoga—but developers like Akela Development Group vanished, leaving buyers like Erin Norris out of $107,000 and staring at empty jungle plots.

Bloomberg reports Akela sold 70+ presale units it never built, with millions missing and two developers dead—one found on a beach, another a suspected suicide.

Lawsuits pile up, but with no company left to sue, buyers are stuck.

Local lawyers estimate hundreds more victims, citing shoddy permits and stolen land.

Construction still buzzes, but X posts scream caution—scams are rife, and delivery dates are a gamble.

Takeaway: Tulum’s turquoise waters hide a murky mess. If you’re eyeing a slice of this “paradise,” triple-check the developer—or you might be left with nothing but a pricey daydream and a lawyer’s bill. Maybe stick to a beach Airbnb for now, unless you fancy funding a ghost condo.

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