Bloomberg View Column: A Housing Recovery Built to Last?

May 16, 2015 | 9:17 pm | BloombergViewlogoGray | Charts |

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Read my latest Bloomberg View column A Housing Recovery Built to Last?.

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Here’s an excerpt…

The housing market has recovered in fits and starts since the financial crisis, so it’s worth noting when one important indicator looks really strong. This is the case with the pending home sales index, which reflects contracts signed for purchases of single-family homes, co-ops and condos, published by the National Association of Realtors…

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[Three Cents Worth #281 NY] 6 Graphs That Prove New York Real Estate’s Love of Mondays

May 16, 2015 | 9:10 pm | curbed | Charts |

It’s time to share my Three Cents Worth (3CW) on Curbed NY, at the intersection of neighborhood and real estate in the capital of the world…and I’m here to take measurements.

Check out my 3CW column on @CurbedNY:

After covering more serious topics as of late, this week I thought I’d lighten things up and look at New York city’s signed contracts by day of the week. I used the roughly 2,000 contract dates I had for the closed sales in Q1 of 2015, as used in the Elliman Report for that time period, and parsed out the market by day of the week. Strategically, there is probably nothing to be learned from this exercise, but hey, it’s an angle I’ve never examined before…



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My latest Three Cents Worth column on Curbed: Three Cents Worth: 6 Graphs That Prove New York Real Estate’s Love of Mondays [Curbed]

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[Video] Why The Rich Get Richer

May 4, 2015 | 11:05 am | wsjlogo |

Here’s one way to look at it.

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Bloomberg View Column: Invest in a Painting, Not a Condo

May 4, 2015 | 11:00 am | BloombergViewlogoGray | Charts |

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Read my latest Bloomberg View column Invest in a Painting, Not a Condo.

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Here’s an excerpt…

A couple of weeks ago, Laurence Fink, the chief executive officer of BlackRock Inc., observed that “the two greatest stores of wealth internationally today is contemporary art … and apartments in Manhattan, apartments in Vancouver, in London”…

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[VIDEO] Chinese Housing Bubble Version of ‘The Truman Show’

April 29, 2015 | 9:31 am | nytlogo | TV, Videos |

To keep the sales going, developers in the massively bloated Chinese housing market are getting more creative. This NY Times short documentary is fantastic and surreal. I’d chalk it up to simply bizarre, if there wasn’t such a desperate undertone to it.

It reminded me of “The Truman Show” movie where everything Jim Carrey’s character saw was fake, made for him. However in the Chinese version, everyone knows it’s fake but embraces it.

With the massive oversupply, no wonder savvy Chinese investors are extracting as much wealth as they can and investing overseas in anticipation of that day of reckoning.

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Adventures in Branding: NY Yankees Style

April 28, 2015 | 2:16 pm | Favorites |

Love this email our company just received to our general mailbox…no, we’re not going to take advantage of this opportunity – as much as I love the Yanks.

 

nyyankeesmillerad

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[Three Cents Worth #280 NY] Smaller Manhattan Apartments Keep Getting More Expensive

April 26, 2015 | 2:02 pm | curbed | Charts |

It’s time to share my Three Cents Worth (3CW) on Curbed NY, at the intersection of neighborhood and real estate in the capital of the world…and I’m here to take measurements.

Check out my 3CW column on @CurbedNY:

A lot of time and energy has been spent writing about one of the biggest challenges to the New York City housing market in recent years: affordability. One of the primary observations of the purchase market has been the lower number of first time buyers, both locally and nationally. Tight credit, slow household formation, and a creaky economy have been a root cause of keeping their participation muted, but it’s also the disproportionately higher price growth over the long term for smaller apartments. Here’s my attempt to illustrate this trend, using data from the last 25 years…



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My latest Three Cents Worth column on Curbed: Three Cents Worth: Smaller Manhattan Apartments Keep Getting More Expensive [Curbed]

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[Three Cents Worth #279 NY] New York’s Building Boom Doesn’t Mean More Units For Sale

April 26, 2015 | 1:57 pm | curbed | Charts |

It’s time to share my Three Cents Worth (3CW) on Curbed NY, at the intersection of neighborhood and real estate in the capital of the world…and I’m here to take measurements.

Check out my 3CW column on @CurbedNY:

Now that I am fully recovered from Micro Week, I thought I would think a little bigger and present the Manhattan inventory picture by comparing new development and re-sales. I’ve charted it from the pre-Lehman high (PLH for those in the know) through the end of 2014 in two graphs. One shows the year-over-year change, and the other tracks inventory by units to help tell the whole story. Inventory was in a state of free fall for both types from 2009 through 2013, but in 2014 the picture clearly changed…



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[click to expand chart]


My latest Three Cents Worth column on Curbed: Three Cents Worth: New York’s Building Boom Doesn’t Mean More Units For Sale [Curbed]

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Bloomberg View Column: Want a New House? Good Luck

April 26, 2015 | 12:04 pm | BloombergViewlogoGray | Charts |

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Read my latest Bloomberg View column Want a New House? Good Luck.

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Here’s an excerpt…

Much of the analysis of the housing market focuses on sales volume and price trends. These are important metrics, of course, but they really don’t tell you much about market fundamentals because they are, to a great extent, derivative…

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Bloomberg View Column: House Rich, Land Poor

April 26, 2015 | 11:41 am | BloombergViewlogoGray | Charts |

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Read my latest Bloomberg View column House Rich, Land Poor.

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Here’s an excerpt…

The living space in newly built U.S. homes is on a tear: Since 1982, the size of a new single-family house has increased by almost 1,000 square feet — which was the size of the average U.S. house in 1950…

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The trend continued after a brief interruption during the early days of the financial crisis…


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Bloomberg View Column: The Bidding Wars Are Back

April 26, 2015 | 11:31 am | BloombergViewlogoGray | Charts |

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Read my latest Bloomberg View column The Bidding Wars Are Back.

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Hard to believe this is happening again…

Here’s an excerpt…

A relic from the days of the housing boom is making a comeback. The share of sales that feature bidding wars is up. According to the National Association of Realtors, 33 percent of all sales were at or above the asking price, a strong indication that more than one bidder was involved in a transaction…

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Bloomberg View Column: Income Inequality Hits the Housing Market

March 15, 2015 | 6:27 pm | BloombergViewlogoGray | Charts |

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Read my latest Bloomberg View column Income Inequality Hits the Housing Market.

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This article turned out to be my most-commented on piece so far. The topic of affordability generates a hotbed of conversation.

Here’s an excerpt…

There’s been plenty of talk recently about signs of recovery in the housing market. Rather than think about housing as a single market, it might be helpful to look at housing as many markets based on everything from geography to price to new versus existing…

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