Blackstone Is Hiring
While other financial giants are standing still. Plus: home renovations go up.
Jon Gray, president of Blackstone Inc.
Photographer: Alessia Pierdomenico/BloombergWelcome to Bw Daily, the Bloomberg Businessweek newsletter, where we’ll bring you interesting voices, great reporting and the magazine’s usual charm every weekday. Let us know what you think by emailing our editor here. If this has been forwarded to you, click here to sign up.
In the early days of the pandemic, rock-bottom loan rates fueled a rise in US home sales as well as renovation spending. Today, as rates have shot up, more homeowners are staying put, but they’re still investing at near-record levels in bathroom redos, landscaping upgrades and other improvements. Abbe Will, senior research associate at the Harvard Joint Center for Housing Studies, describes their mindset this way: “I know I’m going to be in this home for however many more years, so what can I do to make it nicer for as long as I’m here?”