New housing data…
New housing data
Reuters opened the week and reported that housing starts jumped 22.6% in July, the biggest gain since October 2016. No wonder tree prices are skyrocketing players. With this increase marked Reuters, house construction is up just 4.5% below the February 2020 rate of 1.567 million storeys.
Nicole Friedman of the Wall Street Journal (required subscription) last week reported 25% increase in existing home sales, the highest increase since December 2006.
Source: Wall Street Journal
Friedman notes that “buyers are willing to move away from cities, now that many workers do not travel every day. The epidemic has spurred some households to live closer to family, or to a place that offers more space with so much time spent at home. ” But more on that later.
Anna Bahani of CNN Business joined the conversation and noted that this is the second month of double-digit jumps in home machines, driven by low interest rates and the desire to move from a large urban center. And do not forget about low inventory, which contributes to higher prices in high demand.
The multi-family market, things are looking as reported by Victoria Hodgins from Globe Set (subscription required). Specifically, Hodgins reported CBRE data showing "a significant increase in signed confidentiality agreements on industrial and multi-family properties in the second quarter." However, CBRE data warns that in this market there is still "at least a three-year journey to pre-virus risk levels."
?? Seinfeld does not laugh
Jerry Seinfeld is crazy. His latest film, recently published in the New York Times, then titled You Think New York is 'dead' (it's not), Seinfeld discusses his opposition to the thesis that people run away from the big apple. I'll let Jerry speak for himself:
"He says he knows people who have left New York for Maine, Vermont, Tennessee, and Indiana. I have been to all these places many, many, many times over many decades. And with all due respect and affection, are you… laughing .. me ?! ”
There's something else silly in the article on "bandwidth" and how New York ends because everyone "distances everything". Guess what: everyone hates doing it. Each. Hate. ”
“This stupid virus will eventually give up. In the same way you have. We'll continue with New York if it's okay with you. And that's probably on the way, damn it. "
Well, Jerry, the data is not with you about this at the moment, but I can not disagree with the importance of New York as a cultural and economic center despite any future or future sexual outings.
Moreover, the UK excelled last week in the Wall Street Journal (subscription required), Catherine Clark reports that the Cubid-19 crisis provided an incredible belly punch to the prestigious real estate market in New York City, while exerting pressure should a rate that exceeds the economic continuation Of 2008 to do about the period immediately following the 11/XNUMX attacks. “
Source: Wall Street Journal
CNBC's Kevin Stenkiewicz reports in an interview with real estate developer Don Pebbles, noting that "I think New York will eventually come back. It will come back differently. It will be somewhere else and it will be much cheaper. I think it will take New York about a decade to dig into that. Maybe more. But it will not be soon. “
And the taxation proposed by state in the city does not help anything.
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