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The effect of these tariffs is different from supply shocks that suddenly alter the supply of goods or services, such as natural disasters, wars or disease outbreaks, according to a real estate economist.

According to The New York Times, the "panic industry" — consisting of at-home bunkers, hidden shooting ranges and more protective real estate renovations — has been booming in response to growing global uncertainties.

He is a billionaire New York real estate developer and long-time confidant of Trump - who himself is not a traditional president.

The Canopy, which is being built by Southern California real estate developer Almquist, will feature 90,000 square feet of shopping, dining and public space.

“Century City is an outlier, and has been for years in terms of performance on rent and occupancy,” real estate broker Gary Weiss of LA Realty Partners said.