Matrix Blog

Bloomberg News

[In The Media] Bloomberg’s “Street Smart” 1-7-13

January 8, 2013 | 2:37 pm | | TV, Videos |

Had a quick but fun visit with Trish Regan and Adam Johnson on Bloomberg TV’s “Street Smart.” We covered some of the results of the 4th quarter market report on Manhattan sales I have been preparing for Douglas Elliman for years.

Just before I came on to the set there was a breaking news flash that a tanker crashed into San Francisco’s Bay Bridge – quickly thought my segment would be cut but alas it wasn’t. I have a long legacy for timing like that, just not this time.

Tags: , , ,


[In The Media] Bloomberg’s “Money Makers” 12-28-12

December 29, 2012 | 11:50 am | | Public |

Had a nice chat with Erik Schatzker and Sara Eisen on the top 5 closed Manhattan transactions to date (there may be a few more squeezed in). We got through 3 and then there was a breaking news event – the president was announcing the status of the “fiscal cliff” talks.

Imagine that! As if the “fiscal cliff” was somehow more important than learning where the super wealthy invested their money in real estate? Ok I’m kidding.

I’ll finish the list and include the top sales in a post later today when the howling snow storm hits CT.

Tags:


[NYTimes] What Could Disappear Interactive Charts

December 4, 2012 | 10:00 am | |

I’ve been remiss in not presenting the now week old interactive web page on the New York Times site called, alarmingly, What Could Disappear.

These maps are based on elevation data from the U.S. Geological Survey and tidal level data from the National Oceanic and Atmospheric Administration. Maps show the extent of potential flooding relative to local high tide. The 25-foot sea level rise is based on a 2012 study in the journal Science…

I think Sandy brought this conversation front and center in NYC. The Bloomberg administration brought this issue up last year.

While we are talking hundreds of years for an ominous 25 foot increase in sea levels, it’s a wake up call for cities located in low lying areas. How does this impact the future of real estate in these areas?



What Could Disappear [New York Times]

Tags: , , ,


[In The Media] Bloomberg TV’s Street Smart 11-14-2012

November 15, 2012 | 5:53 pm | | TV, Videos |

Had a good discussion with Adam Johnson and Alix Steel on the Manhattan/Brooklyn rental markets and how credit relates to it.

Tags: ,


[Bloomberg Video] Falling Mortgage Rates Aren’t Driving More Mortgage Loans

October 25, 2012 | 11:29 am | | TV, Videos |

Michael McKee provides a great chart on “Bloomberg Surveillance” showing how falling mortgage rates are not pushing mortgage apps up.

Tags: ,


[In The Media] Bloomberg TV’s ‘Money Moves’ w/Deirdre Bolton 10-22-2012

October 22, 2012 | 5:32 pm | | Public |

Always fun to speak with Deirdre Bolton on her Bloomberg TV show “Money Moves.” We talk macro housing and foreign investors today and my tweet quote: Housing is the new global currency.

Tags: , ,


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

October 9, 2012 | 12:00 pm | | 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].

Tags: ,


[In The Media] Bloomberg TV’s ‘Street Smart’ w/ Trish Regan 10-2-12

October 4, 2012 | 2:10 pm | | Public |

Had a nice chat with Trish Regan over at Bloomberg TV on her Reganomix (I get it) segment of Street Smarts on Tuesday (bonus: I became the mayor of Bloomberg TV on Foursquare at same time).

We talked about the results of our recent market report release on Manhattan for Prudential Douglas Elliman.




The Elliman Report: 3Q 2012 Manhattan Sales [Miller Samuel]
The Elliman Report: 3Q 2012 Manhattan Sales [Prudential Douglas Elliman]

Tags: , ,


[In The Media] Bloomberg Surveillance 9-18-12 QE3, Low Rates and Housing

September 18, 2012 | 9:14 am | | Public |

Very much enjoyed my conversation with Tom Keene and Scarlet Fu on Bloomberg Television’s Surveillance.

Scratch notes before my appearance:

Some thoughts about the Fed’s QE3 as it relates to housing (Einstein defines insanity as doing something for a 3rd time hoping it works).

-Focus of QE3 seems to be housing, but it shows how little Fed understands housing since this seems to be an effort to press borrowing costs lower.
-Falling rates until now have increased affordability 15% this year but reaction in sales is less. A diminishing return for this action. Yes it temporarily helps but is more akin to the 2010 tax credit – remove it and consumers stop buying.
-Fed must believe recent “happy housing news” isn’t sustainable. Prices and sale generally showing improvement.

-Banks prob won’t drop rates all that much-could even see a slight increase in short term: admin backlog from existing business, guarantee fees by Fannie Mae to kick in a few months and spreads already low. This action provides little traction.

-QE3 doesn’t address THE REAL PROBLEM – mortgage underwriting remains irrationally tight. Smaller universe qualifies for mortgaged and a large number of contracts fall through – approx 15%.
-Telegraphing low rates through 2015 eliminates any urgency for consumers to take action. National volume up YOY but 2011 was the aftermath of 2010 tax credit so comparing against low.



Bernanke’s Speech on QE3 [MarketPlace.org]
Benanke Statement on QE3 [Federal Reserve]
QE3: What is quantitative easing? And will it help the economy? [WaPo Wonk Blog]
Fed’s Evans Says QE3 Will Make Economy More Resilient [Bloomberg]
Low Rates Not Improving Housing Market, Miller Says [Bloomberg Surveillance TV]

Tags: , , , , ,


Bloomberg Manhattan Luxury Housing Market Charts 2Q-2012

August 9, 2012 | 12:02 am | | 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.

Tags: ,


[In The Media] Bloomberg Surveillance w/Tom Keene 8-1-12

August 8, 2012 | 11:13 pm | | Public |

This interview occurred more than a week ago – I’m doing some blog housekeeping after returning from vacation.

Always a lively discussion on housing. I’m big on negative or low equity to explain why inventory is falling faster than sales activity can explain. Love their show. Had some issues with my earpiece constantly falling out. Apparently my ears are too big for TV (ie better listener).

Tags: , , ,


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

July 18, 2012 | 10:23 am | | TV, 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.

Tags: , ,

Get Weekly Insights and Research

Housing Notes by Jonathan Miller

Receive Jonathan Miller's 'Housing Notes' and get regular market insights, the market report series for Douglas Elliman Real Estate as well as interviews, columns, blog posts and other content.

Follow Jonathan on Twitter

#Housing analyst, #realestate, #appraiser, podcaster/blogger, non-economist, Miller Samuel CEO, family man, maker of snow and lobster fisherman (order varies)
NYC CT Hamptons DC Miami LA Aspen
millersamuel.com/housing-notes
Joined October 2007