We have all heard of USB, WiFi, and Bluetooth. These technology standards have allowed manufacturers to design products that can be used universally and have prevented consumers from needing to worry about whether or not their technology is compatible. Now, it might be time to learn the name of a new standard, Aliro. This is what The Connectivity and Standards Alliance is currently working on to help smart locks and access control systems work seamlessly with smart devices.
Anyone who has ever been in charge of the tech for a building knows how big of a deal this is. Some smart locks and turnstiles don’t work with certain software, like tenant apps, requiring some bespoke software development. Most of the large lock and access-control companies are working together with smartphone manufacturers like Apple, Google, and Samsung to ensure interoperability for almost all smart devices. Apple has already developed its own standard via the Apple Wallet, but right now, only some access-control companies and just a handful of smart locks support it.
One of the most important things that this standard, which isn’t expected to be finalized until 2025, would accomplish is changing consumer behavior. Right now, most people don’t reach for their phone when they want to open a door, but if they start using this kind of functionality at home, they will be more likely to do it in their offices as well. People have been predicting that, eventually, consumers will expect to be able to get into their offices using nothing but their phones, and now that seems much closer to reality.
Other news
Appealing representation: Keller Williams is getting ready to appeal their recent $1.8 billion judgment in the Sitzer/Burnett case. To do so, they have hired former U.S. solicitor general Paul Clement. Clement has taken more than 100 cases all the way to the Supreme Court, so even if the appeal is denied, I expect to see the defendant’s petition to be heard by the highest court in the land.
Delinquent in droves: The volume of past-due commercial real estate loans has hit a 10 year high. While the current rate is still not where it was after the financial crisis in 2008, things are getting worse quickly: the number of loans that have missed more than one payment is up 30 percent in the last three months.
Starts stopped: Data has just come out from Yardi that predicted that, while new multifamily construction is set to increase in the next few years, if the current economic situation continues, they could end up dropping in 2026 and beyond. This will certainly make it harder for many cities to make their housing more affordable and could even weigh in on the Fed’s decision-making on when to bring rates back down.