[VIDEO] Boomberg TV ‘Market Makers’ 7-27-15

July 27, 2015 | 10:49 pm | Reports |

Had a nice conversion this morning with Matt Miller and Stephanie Ruhle on Bloomberg TV’s ‘Market Makers.’ Never been on this show before. Wow. Energy+.

Before the show started, we had a active debate on whether ‘American Flyers‘ or ‘Breaking Away‘ was the best bicycling movie. Clearly ‘Breaking Away” was the better of the two HANDS DOWN but I liked the other a lot, especially for someone who likes the whole culture of bike racing. Not sure what bike movies had to do with our ‘state of the Hamptons market’ discussion covering our Hamptons market report for Douglas Elliman, but hey, it was obviously more important to settle the bike movie issue first.

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[VIDEO] Fox Business ‘Risk & Reward’ w/Deirdre Bolton 7-27-15

July 27, 2015 | 10:22 pm | TV, Videos |

Always great to swing by and speak with Deirdre Bolton on her Fox Business show “Risk & Reward.” However today’s show was a bit of a mess for me. Working on 4.5 hours of sleep I said I was talking about “interest-free” then changed it to “principal-free” mortgages – LOL – good grief! Note to self: “interest-only.” Plus my company name was reversed 2x and the chyron had it backwards as well. Didn’t discourage me though – always fun to do the show.

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[Video] Ladies and Gentlemen, We Apologize For The Unavoidable Delay…

July 19, 2015 | 11:56 am |

I’ve been interviewed by Charlie Pellet of Bloomberg Radio a few times and have thought to myself, “His voice sounds really familiar.” Here’s this short video from The New Yorker that shows why.

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Will London (or any large city) Become a Bad Version of Dubai?

July 15, 2015 | 2:24 pm |

Dubaization Defined.

This video is an epic condemnation of the new wave of architecture associated with super luxury housing that is redefining the London skyline presented by – The Guardian.

Alain de Botton goes full on, providing heavy criticism that is well worth watching for the answer to the question: Why we are seeing the super luxury/starchitect phenomenon occur?

But the rest of the piece slips into full scale whining.

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Rotating GIFs: Cost of Land Is The Secret to Affordable Housing

July 14, 2015 | 4:48 pm |

Here’s a cool rotating gif map on rising U.S. land prices based on data taken from the Lincoln Institute of Land Policy (in partnership with University of Wisconsin-Madison).

I’ve used their data for my Bloomberg View column talking about the price of land. In short, the land is what appreciates, not the improvements to the land such as the house itself. The price of land is a key issue in the U.S. affordable housing crisis we are now experiencing.

Here’s a 40 year view on the price of land for residential development provided by Howmuch.net


Source: Howmuch.net

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Fed Charts: How are the Housing Fundamentals Doing?

July 13, 2015 | 11:22 am | fedny |

The New York Fed just put out an economic recap of the U.S. economy that is chock full of charts and data.

NYC employment growth is strong…

7-13-2015NYFedregionalempl

But nationally, unemployment is falling but those being counted on the roles are falling…

7-13-2015labormktNYFED

Housing starts have ramped up but most is multi-family – driven by freakin’ high rents.

7-13-2015housingstartsNYFED

New single family home sales are lagging existing home sales (see chart above)…

7-13-2015newexisthomesNYFED

And we wonder why the economy doesn’t feels so good…anemic wage growth…

7-13-2015hourlywageNYFED

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Record Queens Condo Prices: Bigger Than Crises in Greece, China

July 9, 2015 | 9:51 pm | delogo |

Rental_0615Douglas Elliman published our research today covering Queens sales, Brooklyn sales Westchester/Putnam sales as well as the rental market for Manhattan Brooklyn & Queens. You can download the reports and more at Douglas Elliman’s market report page.

Like last week’s Manhattan report, there were lots of records set and it wasn’t simply the influence of high end sales – prices were up across the board in most markets.

Incidentally, the Bloomberg News article that covered record Queens condo sales was the second most emailed story world-wide. It stoked more interest than the finance crisis in Greece and the recent Chinese stock market gyrations. Apparently only “investors with satellites” was a more popular read.

Idea (?) for next quarter: Talk about drones and investors in the Queens housing market.

2q15queensrptBLOOMBERGTERMINALS

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Aspirational Marketing: Best Hamptons Magazine Cover Ever

July 8, 2015 | 10:49 am | Favorites |

As I was exiting Grand Central Terminal on my way to work, and Timeout New York was being passed out to commuters. Their now-free magazine cover caught my eye:

In this week’s issue of Time Out New York, we prove the Hamptons don’t have to be douchey.

hamptonstimeoutnycover7-2015
[click to expand]

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“Save the Moguls” Attack Ad Goes After @Airbnb

July 7, 2015 | 2:51 pm |

Cracks in the “sharing economy” are forming.

As reported on Airbnb — and real estate big shots — where it hurts” Inman News…

The ad says that nearly half of the revenue from the site goes to “real estate moguls,” a figure taken from the New York State Office of the Attorney General’s “Airbnb in the City” report from October 2014.

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Knight Frank: Moscow Rents Dropped 42% YoY in US Dollars

July 6, 2015 | 2:40 pm | kflogo | Reports |

Knight Frank just published their 1Q 2015 Prime Global Rental Index. We provide the U.S. info. Always a fascinating read.

Especially this:

In Moscow, prime rents have historically been US Dollar denominated but the weakness of the Rouble against the US Dollar has led an increasing number of landlords to swap their rents into Roubles. In US Dollar terms prime rents fell 42% on an annual basis but by only 5% in Rouble terms.

Here are the world rankings:

KFPGRI1q15table

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[Video] Yahoo! Finance w/Lauren Lyster 7-6-2015

July 6, 2015 | 2:11 pm | delogo | TV, Videos |

Lauren Lyster put together an interesting piece called: $100 million listings?! Pros explain why this real estate market is hot, but not a bubble that explores the disconnect between this development boom and the housing bubble last decade.

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[Video] NYC Home Shuffle: Housing has been taken over by finance

July 6, 2015 | 12:52 pm | TV, Videos |

A few months ago I was approached by film students Clàudia Prat & Eric French to speak to the housing market as part of a larger project called “What is Home?” series.

I’m a big fan of documentaries and this is worth watching.

Their effort was called: NYC Home Shuffle (5:51 minutes):

Part of a global trend, New York City’s homes become a commodity: an investment instead of a right. Yet a global movement responds.
By Clàudia Prat & Eric French
whatishome.nyc // May 2015

NYC Home Shuffle from Studio 20 on Vimeo.

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