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Posts Tagged ‘Bloomberg’

Is Housing Recovery Thwarted By The Polar Vortex?

February 25, 2014 | 3:09 pm | bloomberglogo |

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Since we have another cold snap in our midst, I thought I talk about cold weather and housing trends.

Back in early January, the US experienced what has now become a household phrase – “The Polar Vortex” and extreme weather has morphed its way into recent housing reports as plausible explanations for a slow down in some of the results.

Buyer perspective: Imagine a couple looking to buy their first home and decide they will begin looking right after the New Year. The dreaded Polar Vortex hits and it is too uncomfortable to run around looking at houses in freezing temperatures, so they postpone until the weather warms up in a month or 2.

Seller perspective: Imagine a homeowner who decides to put their home on the market and they experience searing pain from the cold by simply going to the grocery store. They can’t imagine a buyer coming to look at their home in the severe weather and don’t want their home to sit, so they postpone until the weather warms up in a month or 2.

In both scenarios, I would venture to guess that no one would say:

WOW, this weather is severe. I’ve rethought my (buying or selling) decision and will cancel the idea for a few years because the weather is too cold right now.

or

WOW, this weather is severe. Staying warm in my home right now made me realize that I rushed to make my decision and will no longer (buy or sell) for a long time.

Consumers can better relate to the weather than macro economic theory so throw it into the title of a news article:

NBC News: Spring Thaw May Not Heat up This Housing Market
Bloomberg News: Cooling U.S. Home Sales Only Partly Due to Weather: Economy
Fox Business: Housing Freeze: It’s Not Just The Weather

If we isolate the housing market to new construction (which represent about 15% of sales historically) then it gets a lot more plausible – ie permits, starts etc. can be more affected by the weather on a pragmatic basis.

But that has little or no impact to the vast majority of housing consumers.

Here’s one way to visualize the potential impact of weather to retail sales activity (translation: slow down, spring back) in Business Insider.

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Context, people, context.

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Miller Samuel Luxury Market Indices on Bloomberg Terminals Through 2Q 2013

August 12, 2013 | 8:41 pm | bloomberglogo | Charts |

Here are the 3 Manhattan luxury housing price indices we provide for the Bloomberg Terminals through 2Q 2013.

MLH AVG Index (Miller Samuel Manhattan Luxury Housing Average Sales Price) [click to expand]

MLH SQFT Index (Miller Samuel Manhattan Luxury Housing Price Per Square Foot) [click to expand]

MLH MED Index (Miller Samuel Manhattan Luxury Housing Median Sales Price) [click to expand]

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Miller Samuel Manhattan Luxury Market Indices on Bloomberg Terminals [1Q 13]

April 28, 2013 | 7:08 pm | bloomberglogo | Charts |

A while ago Bloomberg created three luxury housing indices using our Manhattan historical data for their terminal subscribers. Kinda cool. For all the high end housing market hype, the upper end has remained fairly stable for several years. That may change a bit going forward (higher).

Here are the latest:

MLH SQFT Index (Miller Samuel Manhattan Luxury Housing Price Per Square Foot)

[click to expand]

MLH MED Index (Miller Samuel Manhattan Luxury Housing Median Sales Price)

[click to expand]

MLH AVG Index (Miller Samuel Manhattan Luxury Housing Average Sales Price)

[click to expand]

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Miller Samuel Luxury Market Indices on Bloomberg Terminals

January 28, 2013 | 11:00 am | bloomberglogo | Charts |

Here are the 3 Manhattan luxury housing price indices we provide for the Bloomberg Terminals.

MLH AVG Index (Miller Samuel Manhattan Luxury Housing Average Sales Price)
[click to expand]

MLH SQFT Index (Miller Samuel Manhattan Luxury Housing Price Per Square Foot)
[click to expand]

MLH MED Index (Miller Samuel Manhattan Luxury Housing Median Sales Price)
[click to expand]

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[Bloomberg] Manhattan Luxury Housing Market Charts 3Q-2012

October 9, 2012 | 12:00 pm | bloomberglogo | Charts |

A few years ago Bloomberg created indices for the Manhattan Luxury Housing market based on our data to be seen by their terminal subscribers. Cool to have an index based on our research (and a project triggered by our report efforts).

The top 10% of the market (Luxury) is hovering at just over $2,000 per square foot for the past year [top chart]. Median sales price has remained just above $4M for the past 3 years [bottom chart].

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Bloomberg Manhattan Luxury Housing Market Charts 2Q-2012

August 9, 2012 | 12:02 am | bloomberglogo | Charts |

A few years ago Bloomberg set indices for the Manhattan Luxury Housing market based on our data seen by their terminal subscribers. Kind of cool.

These charts show the reset when the credit crunch began circa 2007-2009. On a ppsf basis (top chart), the luxury market seems to have begun climbing again at the same trajectory that was seen pre-Lehman bankruptcy.

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[In The Media] Bloomberg TV’s “Taking Stock” with Pimm Fox 7-17-12

July 18, 2012 | 10:23 am | bloomberglogo | Videos |

Had a nice conversation about the rental market with Bloomberg’s Pimm Fox, one of the nicest people you’ll ever meet, on his show Taking Stock.

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