Ok, so I like making bubbles. Here’s a reason (or excuse) to watch some bubbles – tie it in with economic theory.
I spoke with Deirdre Bolton on “Risk & Reward” today to speak about last weekend’s excellent New York Times real estate piece by Julie Satow called “Dialing it Down.” Deirdre focused on the metric developed during my preparation of last week’s Elliman Report of Manhattan sales in 3Q2014 showing that luxury inventory has doubled over the past year.
Was asked to guest host this morning for the 7-8am hour on Bloomberg TV’s Surveillance. Tom Keene, Scarlet Fu and Adam Johnson team up for a must-watch show every morning.
In the first clip we talk Manhattan Luxury market problems and records. In the second clip we banter about the bendable iPhone Plus and housing as an investment. These two articles likely prompted my invite:
UPDATE: above clip just added – expanded conversation.
Got to guest host an hour (6am to 7am) of Bloomberg Television’s Surveillance with Tom Keene, Scarlett Fu and Adam Johnson to talk housing. The above is just a couple of minutes of the hour (yes, you’re spared). We spoke about Case Shiller, New Home Sales, biting in World Cup Soccer, my fireman son using a GoPro in fires and LeBron/Carmelo’s real worth among other things. Like I said, we did talk housing.
Adam brought up a great point – while the economy is always characterized as 70% consumer driven, 16% of that is actually health care spending so the overall number is really 54%.
Very smart conversations (the topic of biting included). Always fun to join them.
Got a call yesterday from John Ford, a reporter for PIX11 regarding the publication of Douglas Elliman’s Manhattan & Brooklyn Rental Report I author for Douglas Elliman.
He’s a very nice guy and really listened to and presented the key findings of the report. Luciane Serifovic, Elliman’s Director of Rentals made a couple of good points as well. Fun!
Really! This short intro video accurately portrays the RAC organizational culture and why I love these people.
I am a long time member of RAC, an appraisal organization that specializes in complex residential properties. It was founded in 1990 to focus on the relocation subset of residential appraising but this is not a mutually exclusive point. An appraiser who provides high quality relocation appraisals also provides high quality appraisals for complex residential assignments. Most of our members do a lot of appraisal work outside of the relocation universe.
For Miller Samuel, relocation appraisal work has never been a large part of our practice given our New York market location but the draw to retain my membership has remained powerful.
Here are some thoughts:
For Appraisers – RAC is nominally priced, full of incredible experienced people and most important, absent the crazy appraisal politics that have nothing to do with making someone a more valuable appraisal professional. Check us out.
For Financial Institutions – If you ever need a resource to get the best residential real estate appraisers in the country, you simply need to check out RAC. And if our organization doesn’t have coverage in a specific market you are interested in, we’d be happy to recommend someone to you.
It was great to reconnect with Deirdre Bolton after she made the move to Fox Business from her long time home at Bloomberg TV.
We talked housing, touching on NAR’s pending home sale index release as well as research from Realtytrac concerning record prices in a growing number of urban markets.
This morning, I got to join Tom Keene, Adam Johnson and Cristina Alesci on Bloomberg TV’s Surveillance to talk housing for the 6am to 7am hour. Definitely worth getting up at 4am to make into the studio. No, really!
Covered a lot of ground this morning on the show. Here’s another clip.
This video gives you a good sense of the excitement, if not frenzy in the residential development space in New York City. There was a long line of people waiting to enter the venue for the event when I arrived.